Company: CMCT
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0000908311-25-000017
Chunk: 140

Company: Creative Media & Community Trust Corp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 140
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/AN/A3022 S. Western Avenue (4)Jefferson ParkN/AN/AN/AN/A3109 S. Western Avenue (5)Jefferson ParkN/AN/AN/AN/A4750 Wilshire Boulevard (Backlot) (6)Mid-WilshireN/AN/AN/AN/A1915 Park Avenue - 44% (7)Echo ParkN/AN/AN/AN/AOakland, CAF3 Land Site (8)Jack London DistrictN/AN/AN/AN/A466 Water Street Land Site (9)Jack London DistrictN/AN/AN/AN/ATotal Multifamily and Development Portfolio764 81.7 %$18,478 $2,468 

(1)Represents gross monthly base rent under leases commenced as of December 31, 2024, divided by occupied units.

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(2)The Company owns 25.5% of the property. The amounts shown in the table represent 100% of the property. The property is a 75-unit four-story building. 

(3)We sold 80% of our interest in 4750 Wilshire Boulevard to three co-investors (the “4750 Wilshire JV Partners”) in February 2023, with our remaining 20% interest now invested in a newly-formed joint venture with the JV Partners (the “4750 Wilshire JV”). By September 2024, the 4750 Wilshire JV had substantially completed its conversion of two of the three floors of 4750 Wilshire Boulevard from office-use into 68 for-lease multifamily units (the “4750 Wilshire Project”), with the first floor of 4750 Wilshire continuing to function as 30,335 square feet of office space. Following the substantial completion of the 4750 Wilshire Project, the Company has reclassified its investment in the 4750 Wilshire JV as a multifamily investment. The 4750 Wilshire JV refers to the multifamily portion of the building as “701 S Hudson”. 

(4)The Company intends to develop a total of approximately 160 residential units across both properties. There is no planned start date for such development.

(5)The Company intends to redevelop approximately seven commercial units totaling 5,635 rentable square feet and six parking stalls. There is no planned start date for such redevelopment.

(6)The Company owns 100% of the 4750 Wilshire Boulevard backlot