Company: CMCT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000908311-25-000067
Chunk: 11

Company: Creative Media & Community Trust Corp
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 11
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 not an adjustment prescribed by NAREIT.

FFO attributable to common stockholders, which is a non-GAAP measure, was $(7.9) million for the three months ended June 30, 2025, a decrease of approximately $4.6 million, compared to $(3.3) million for the three months ended June 30, 2024. The decrease in FFO was primarily due to a decrease of $6.4 million in segment net operating income (discussed in more detail in the following Summary Segment Results) and an increase in interest expense of $1.3 million, partially offset by a decrease in redeemable preferred stock dividends of $2.6 million and a decrease in redeemable preferred stock redemptions of $567,000.

46

Summary Segment Results

During the three months ended June 30, 2025 and June 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 June 30,Change 20252024$%Revenues:    Office$11,877 $14,101 $(2,224)(15.8)%Hotel$11,635 $12,155 $(520)(4.3)%Multifamily$3,944 $5,449 $(1,505)(27.6)%Lending$2,090 $2,564 $(474)(18.5)%Expenses:    Office$6,533 $6,397 $136 2.1 %Hotel$7,477 $7,835 $(358)(4.6)%Multifamily$3,143 $3,116 $27 0.9 %Lending$2,137 $1,821 $316 17.4 %(Loss) Income From Unconsolidated Entities:Office$175 $1,204 $(1,029)(85.5)%Multifamily$(612)$(81)$(531)NM*Non-Segment Revenue and Expenses:Interest and other income$143 $170 $(27)(15.9)%Asset management and other fees to related parties$(349)$(425)$76 (17.9)%Expense reimbursements to related parties - corporate$(891)$(612)$(279)45.