Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 12

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 12
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36.7)%Multifamily$(169)$(405)$236 (58.3)%Non-Segment Revenue and Expenses:Interest and other income$87 $158 $(71)(44.9)%Asset management and other fees to related parties$(331)$(515)$184 (35.7)%Expense reimbursements to related parties - corporate$(1,174)$(592)$(582)98.3 %Interest expense$(9,612)$(8,830)$(782)8.9 %General and administrative$(1,189)$(1,421)$232 (16.3)%Transaction-related costs$(598)$(526)$(72)13.7 %Depreciation and amortization$(7,345)$(6,423)$(922)14.4 %Gain on sale of real estate$679 $— $679 N/AProvision for income taxes$(74)$(15)$(59)NM*______________________

(*)Percentage changes in excess of 100% are deemed to be not meaningful (“NM”)

Revenues

Office Revenue: Office revenue includes rental revenue, expense reimbursements and lease termination income from office properties. Office revenue decreased to $12.5 million for the three months ended September 30, 2025, compared to $13.8 million for the three months ended September 30, 2024. The decrease was primarily due to lower rental revenues at office properties in Oakland, California, San Francisco, California, and Los Angeles, California, each as a result of lower occupancy. 

Hotel Revenue: Hotel revenue increased to $7.6 million for the three months ended September 30, 2025, compared to $7.1 million for the three months ended September 30, 2024. The increase was mainly due to an increase in occupancy and average daily rates for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

Multifamily Revenue: Multifamily revenue was $3.9 million for the three months ended September 30, 2025, compared to $4.8 million for the three months ended September 30, 2024. The decrease was attributed to lower rental revenues at our multifamily properties due to decreases in occupancy and monthly rent per occupied unit, net of rent concessions, for the three months ended September 30, 2025 compared to the three months ended September