Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 205

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 205
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 real estate, transaction costs, and provision (benefit) for income taxes. For the Company’s lending segment, the Company defines net operating income as interest income net of interest expense and general overhead expenses.The Company’s chief operating decision maker (“CODM”) is the Company’s executive management team, comprised of the Chief Executive Officer, Chief Investment Officer, Chief Financial Officer, and the 1st Vice President for portfolio oversight of CIM. The 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. 

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSJune 30, 2025 (Unaudited) – (Continued)

The net operating income (loss) of the Company’s segments for the three and six months ended June 30, 2025 and 2024 is as follows (in thousands): Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Office (1): Revenues$11,877 $14,101 $24,931 $28,712 Property expenses:    Operating6,444 6,331 12,080 13,190 General and administrative89 66 377 70 Total property expenses6,533 6,397 12,457 13,260 Income from unconsolidated entities175 1,204 146 1,321 Segment net operating income—office5,519 8,908 12,620 16,773 Hotel:    Revenues11,635 12,155 24,316 24,009 Property expenses:    Operating7,470 7,831 15,456 15,616 General and administrative7 4 18 11 Total property expenses7,477 7,835 15,474 15,627 Segment net operating income—hotel4,158 4,320 8,842 8,382 Multifamily (1):Revenues3,944 5