Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 102

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 102
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$11,854 $827 7.0 %Multifamily$4,091 $4,749 $(658)(13.9)%Lending$2,378 $2,640 $(262)(9.9)%Expenses:    Office$5,924 $6,863 $(939)(13.7)%Hotel$7,997 $7,792 $205 2.6 %Multifamily$3,589 $3,389 $200 5.9 %Lending$1,788 $1,851 $(63)(3.4)%(Loss) Income From Unconsolidated Entities:Office$(29)$117 $(146)NM*Multifamily$(1,122)$(443)$(679)NM*Non-Segment Revenue and Expenses:Interest and other income$91 $144 $(53)(36.8)%Asset management and other fees to related parties$(360)$(394)$34 (8.6)%Expense reimbursements to related parties - corporate$(626)$(605)$(21)3.5 %Interest expense$(9,184)$(8,057)$(1,127)14.0 %General and administrative$(1,241)$(1,188)$(53)4.5 %Transaction-related costs$(26)$(690)$664 (96.2)%Depreciation and amortization$(6,560)$(6,478)$(82)1.3 %Provision for income taxes$(121)$(270)$149 (55.2)%______________________

(*)Percentage changes in excess of 100% are deemed to be not meaningful (“NM”)

Revenues

Office Revenue: Office revenue includes rental revenue, expense reimbursements and lease termination income from office properties. Office revenue decreased to $13.1 million for the three months ended March 31, 2025, compared to $14.6 million for the three months ended March 31, 2024. The decrease was primarily due to lower occupancy at an office property in Oakland, California, partially offset by higher rental revenues at an office property in Beverly Hills, California due to higher rent per occupied square foot. 

Hotel Revenue: Hotel revenue increased to $12.7 million for the three months ended March 31, 2025, compared to $11.9 million for the three months ended March 31,