Company: CMCT
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0000908311-25-000096
Chunk: 170

Company: Creative Media & Community Trust Corp
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 170
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 events and changes in circumstances that could indicate that the carrying value of certain of its investments in real estate may not be recoverable. See Note 2 for a discussion of the Company’s accounting policies regarding impairment of investments in real estate.During the nine months ended months ended September 30, 2025, one office property in Austin, Texas, with a carrying value of $2.1 million, was deemed to be impaired and its carrying value was reduced to an estimated fair value of $1.9 million, resulting in impairment charges of $0 and $221,000 during the three and nine months ended September 30, 2025, respectively. The Company recorded no impairment charges during the three and nine months ended September 30, 2024. See Note 2 for a discussion of the Company’s policies regarding impairment of real estate assets.   See Note 13 for a further discussion regarding these impairment charges during the three and nine months ended September 30, 2025.2025 and 2024 Transactions and Assets Held for Sale—In July 2025, the Company sold a vacant land parcel adjacent to its multifamily property at 1150 Clay Street in Oakland, California (“1150 Clay”). The Company received proceeds of $1.2 million, net of transaction costs of $89,000, and recorded a gain on the sale of $679,000 during the three and nine months ended September 30, 2025. In connection with the sale, the Company used a portion of the proceeds to make a repayment of $696,000 under the mortgage loan at 1150 Clay. There were no acquisitions or dispositions during the nine months ended September 30, 2024.

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Table of ContentsCREATIVE MEDIA & COMMUNITY TRUST CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTSSeptember 30, 2025 (Unaudited) – (Continued)

4. INVESTMENT IN UNCONSOLIDATED ENTITIESThe following table details the Company’s equity method investments in its Unconsolidated Joint Ventures. See Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (dollars in thousands):Ownership InterestCarrying ValueJoint VentureAsset TypeLocationAcquisition DateSeptember 30, 2025September 30, 2025December 31, 20241910 Sunset Boulevard (1)Office / Multifamily (Development)Los Angeles, CAFebruary 11,