Company: CMCT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000908311-25-000038
Chunk: 151

Company: Creative Media & Community Trust Corp
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 151
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451 8,894 — 517 445,862 Secured Borrowings — Government Guaranteed Loans:Outstanding Balance1,361 — (12)— 1,349 Unamortized premiums22 — — (1)21 Total Secured Borrowings — Government Guaranteed Loans1,383 — (12)(1)1,370 Other Debt:2022 credit facility revolver1,367 — — — 1,367 2022 credit facility term loan13,633 — — — 13,633 Junior subordinated notes27,070 — — — 27,070 SBA 7(a) loan-backed notes27,857 — (2,594)— 25,263 Deferred debt origination costs — other(733)(73)— 168 (638)Discount on junior subordinated notes(1,296)— — 27 (1,269)Total Other Debt67,898 (73)(2,594)195 65,426 Total Debt, Net$505,732 $8,821 $(2,606)$711 $512,658 Fixed Rate Mortgages Payable—The Company’s fixed rate mortgages payable are non-recourse and are secured by, among other things, first priority deeds of trust, security agreements or other similar security instruments on the fee simple interests in properties underlying such mortgages and assignments of rents receivable. As of March 31, 2025, the Company’s fixed rate mortgages payable had fixed interest rates of 4.14%, 6.25% and 7.41% per annum, with payments of interest only and initial maturity dates of July 1, 2026, June 7, 2025 and January 11, 2030, respectively. In regards to the mortgage payable maturing on June 7, 2025, the Company has a one-year extension option exercisable at its discretion (which the Company intends to exercise). Variable Rate Mortgage Payable—The Company’s variable rate mortgages payable are non-recourse and are secured by, among other things, first priority deeds of trust, security agreements or other similar security instruments on the Company’s fee simple and leasehold interests in its hotel asset and adjacent parking garage and by a deed of trust on and assignment of rents receivable from a multifamily property. As of March 31, 2025, the Company’s variable