Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 11

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 11
---
 the three months ended March 31, 2024. The increase in FFO was primarily due to a decrease in redeemable preferred stock dividends of $2.3 million and a decrease in redeemable preferred stock redemptions of $506,000, which were partially offset by the aforementioned increase in net loss of $2.4 million. 

44

Summary Segment Results

During the three months ended March 31, 2025 and March 31, 2024, we operated in four segments: office, hotel and multifamily properties and lending. Set forth and described below are summary segment results for our operating segments (dollar amounts in thousands).

 Three Months Ended March 31,Change 20252024$%Revenues:    Office$13,054 $14,611 $(1,557)(10.7)%Hotel$12,681 $11,854 $827 7.0 %Multifamily$4,091 $4,749 $(658)(13.9)%Lending$2,378 $2,640 $(262)(9.9)%Expenses:    Office$5,924 $6,863 $(939)(13.7)%Hotel$7,997 $7,792 $205 2.6 %Multifamily$3,589 $3,389 $200 5.9 %Lending$1,788 $1,851 $(63)(3.4)%(Loss) Income From Unconsolidated Entities:Office$(29)$117 $(146)NM*Multifamily$(1,122)$(443)$(679)NM*Non-Segment Revenue and Expenses:Interest and other income$91 $144 $(53)(36.8)%Asset management and other fees to related parties$(360)$(394)$34 (8.6)%Expense reimbursements to related parties - corporate$(626)$(605)$(21)3.5 %Interest expense$(9,184)$(8,057)$(1,127)14.0 %General and administrative$(1,241)$(1,188)$(53)4.5 %Transaction-related costs$(26)$(690)$664 (96.2)%Depreciation and amortization$(6,560)$(6,478)$(82)1.3 %Provision for income taxes$(121)$(