Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 90

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 90
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 Net loss attributable to the Company$(6,114)$(3,730)The condensed assets for each of the segments as of March 31, 2025 and December 31, 2024 are as follows (in thousands): March 31, 2025December 31, 2024Condensed assets:  Office (1)$417,243 $421,438 Hotel109,971 108,963 Multifamily (1)277,449 279,308 Lending70,392 71,192 Non-segment assets7,288 8,654 Total assets$882,343 $889,555 

(1)Beginning in the quarter ended December 31, 2024, the Company reclassified its consolidated property located at 4750 Wilshire Boulevard (Backlot) in Los Angeles, California to include the property in the multifamily segment, from its previous classification in the office segment. In the above table, the assets related to 4750 Wilshire Boulevard (Backlot) as of March 31, 2025 and December 31, 2024 are included in with Multifamily. 

18. SUBSEQUENT EVENTS

On April 3, 2025, the Company entered into a $35.5 million first lien mortgage loan secured by a first priority deed of trust and security agreement on the Company’s fee simple interest in its office property at 3601 S Congress Avenue in Austin, Texas. In connection with entry into such mortgage loan, the Company repaid in full the outstanding obligations under the 2022 Credit Facility. 

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Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

This Quarterly Report on Form 10-Q contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations, including plans and objectives relating to future growth of our business and availability of funds. Such forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “project,” “target,” “expect,” “intend,” “might,” “believe,” “anticipate,” “estimate,” “