Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 11

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 2
Chunk 11
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1)$(11,124)$(28,420)

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(1)During the three months ended September 30, 2025 and 2024, we recognized $0 and $16.1 million, respectively, of redeemable preferred stock redemptions. Such amounts are included in, and have the effect of increasing, net loss attributable to common stockholders and FFO attributable to common stockholders because redeemable preferred stock redemptions are not an adjustment prescribed by NAREIT.

FFO attributable to common stockholders, which is a non-GAAP measure, was $(11.1) million for the three months ended September 30, 2025, an increase of approximately $17.3 million, compared to $(28.4) million for the three months ended September 30, 2024. The increase in FFO was primarily due to a decrease in redeemable preferred stock redemptions of $16.1 million and a decrease in redeemable preferred stock dividends of $2.7 million, partially offset by a decrease of $617,000 in segment net operating income (discussed in more detail in the following Summary Segment Results), and an increase in interest expense of $782,000.

49

Summary Segment Results

During the three months ended September 30, 2025 and September 30, 2024, we operated in four segments: office, hotel and multifamily properties and lending. Set forth and described below are summary segment results for our operating segments (dollar amounts in thousands).

 Three Months Ended September 30,Change 20252024$%Revenues:    Office$12,464 $13,819 $(1,355)(9.8)%Hotel$7,590 $7,142 $448 6.3 %Multifamily$3,875 $4,773 $(898)(18.8)%Lending$2,218 $2,724 $(506)(18.6)%Expenses:    Office$6,921 $7,566 $(645)(8.5)%Hotel$6,740 $6,169 $571 9.3 %Multifamily$2,914 $3,860 $(946)(24.5)%Lending$1,904 $2,036 $(132)(6.5)%Loss From Unconsolidated Entities:Office$(528)$(834)$306 (