Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 88

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 88
---
 CODM evaluates performance and allocates resources based on segment net operating income (loss). All expense categories on the statement of operations are significant and there are no other significant segment expenses that would require disclosure. The CODM uses net operating income (loss) to make key operating decisions, such as identifying attractive investment opportunities, evaluating underwriting standards, determining the appropriate level of leverage to enhance returns on equity and deciding on the sources of financing. 

35

Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2025 (Unaudited) – (Continued)

The net operating income (loss) of the Company’s segments for the three months ended March 31, 2025 and 2024 is as follows (in thousands): Three Months Ended March 31, 20252024Office (1):Revenues$13,054 $14,611 Property expenses:  Operating5,636 6,859 General and administrative288 4 Total property expenses5,924 6,863 (Loss) income from unconsolidated entities(29)117 Segment net operating income—office7,101 7,865 Hotel:  Revenues12,681 11,854 Property expenses:  Operating7,986 7,785 General and administrative11 7 Total property expenses7,997 7,792 Segment net operating income—hotel4,684 4,062 Multifamily (1):Revenues4,091 4,749 Property expenses:Operating3,503 3,337 General and administrative86 52 Total property expenses3,589 3,389 Loss from unconsolidated entity(1,122)(443)Segment net operating (loss) income—multifamily(620)917 Lending:Revenues2,378 2,640 Lending expenses: Interest expense574 920 Expense reimbursements to related parties—lending segment659 563 General and administrative555 368 Total lending expenses1,788 1,851 Segment net operating income—lending590 789 Total segment net operating income$11,755 $13,633 (1)Beginning in the quarter ended December 31, 2024, the Company reclassified its investment in the 4750 Wilshire JV to include income