Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 176

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 176
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 (i) 30-day average compounded SOFR plus 2.90% and (ii) prime rate minus 0.35%. As of June 30, 2025, the variable interest rate was 7.15%. The Company reflects the SBA 7(a) loans receivable as assets on its consolidated balance sheet and the SBA 7(a) loan-backed notes as debt on its consolidated balance sheet. The restricted cash on the Company’s consolidated balance sheets included funds related to the Company’s SBA 7(a) loan-backed notes was $2.8 million as of June 30, 2025.Other—Deferred debt issuance costs, which represent legal and third-party fees incurred in connection with the Company’s borrowing activities, are capitalized and amortized to interest expense on a straight-line or effective interest method over the life of the related loan. Deferred debt issuance costs are presented net of accumulated amortization and are a reduction to total debt. As of June 30, 2025 and December 31, 2024, accrued interest and unused commitment fees payable of $2.4 million and $1.1 million, respectively, were included in accounts payable and accrued expenses.Future principal payments on the Company’s debt (face value) as of June 30, 2025 are as follows (in thousands):Years Ending December 31,Mortgage Payable (1)Secured Borrowings Principal (2)Lending Division Revolving Credit Facility Other (2) (3)Total2025 (Six months ending December 31, 2025)$87,300 $49 $— $3,496 $90,845 2026164,700 101 — 8,504 173,305 202795,011 107 8,250 7,235 110,603 202830,400 114 — 3,669 34,183 2029— 122 — — 122 Thereafter105,000 842 — 27,070 132,912 $482,411 $1,335 $8,250 $49,974 $541,970 ______________________(1)In regards to the $87.0 million Channel House Mortgage, which matures in 2025, see the discussion under Variable Rate Mortgages Payable. In regards to the $67.0 million 1150 Clay Mortgage, which matures on June 7,