Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 150

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 150
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1 Trade name and license2,957 2,957 Total intangible assets, net$3,488 $3,568 Amortization of the acquired above-market leases is recorded as a reduction to rental and other property income, and amortization of the acquired in-place leases is included in depreciation and amortization in the accompanying consolidated statements of operations. Amortization of the acquired below-market leases is recorded as an increase to rental and other property income in the accompanying consolidated statements of operations. During the three months ended March 31, 2025 and 2024, the Company recognized amortization related to its intangible assets and liabilities as follows (in thousands):Three Months Ended March 31,20252024Acquired above-market lease amortization$1 $2 Acquired in-place lease amortization$79 $94 A schedule of future amortization and accretion of acquired intangible assets and liabilities as of March 31, 2025, is as follows (in thousands): AssetsYears Ending December 31,AcquiredIn-PlaceLeases2025 (Nine months ended December 31, 2025)$91 2026123 2027123 2028122 202972 Thereafter— $531 

18

Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSMarch 31, 2025 (Unaudited) – (Continued)

7. DEBTThe following table summarizes the debt balances as of March 31, 2025 and December 31, 2024, and the debt activity for the three months ended March 31, 2025 (in thousands):During the Three Months Ended March 31, 2025Balances as of December 31, 2024Debt Issuances & AssumptionsRepaymentsAccretion & (Amortization)Balances as of March 31, 2025Mortgages Payable:Fixed rate mortgages payable$269,100 $— $— $— $269,100 Variable rate mortgage payable171,346 9,013 — — 180,359 440,446 9,013 — — 449,459 Deferred debt origination costs — Mortgages Payable(3,995)(119)— 517 (3,597)Total Mortgages Payable436,