Creative Media & Community Trust Corp Q2 FY2025 earnings call

• Business Trends: Uptick in office leasing pipeline translated to significant increase in leasing activity in 2025, with ~140,000 sq ft leased by end of July, over 55% increase from prior year; uneven demand at Oakland assets but encouraged by San Francisco market improvements.
• Balance Sheet and Liquidity: Secured property-level financing on 7 assets, replayed and retired recourse credit facility with $169 million balance, extended debt maturities on multifamily properties, closed $20 million revolving credit facility for Lending division.
• Property Level Performance: Multifamily aims to grow NOI via marking rents to market, improving occupancy; Office Segment sees sustained return to office tailwinds with strong leasing activity; Hotel completed guestroom renovation but common area renovations impact results; Actively evaluating asset sales.

Multifamily: Multifamily NOI increased by approximately $800,000 from the prior quarter, primarily due to a decrease in unrealized losses at unconsolidated entities and lower costs at consolidated properties. In Los Angeles, multifamily occupancy at 701 South Hudson was approximately 68% at the end of the quarter, up from 41% prior quarter. 1915 Park, a 36-unit ground-up multifamily development in Los Angeles, is expected to begin lease-up in the third quarter. In Oakland, total occupancy saw a slight pickup, with the market still challenging but expected to benefit from lower operating costs and lack of new construction. Office Segment: In 2025, approximately 140,000 square feet of leases were executed through the end of July, over 55% increase from prior year period, primarily driven by Los Angeles and Austin properties. Office lease percentage was ~70% at end of Q2, ~80% excluding Oakland office building. Hotel Segment: Hotel NOI was $4.2 million for Q2 2025, compared to $4.7 million in Q1. Planned renovations of common areas impacted Q2 results and will affect balance of year. Lending: Lending NOI declined approximately $640,000 primarily due to higher reserves and lower revenue from loan payoffs. Revenue contribution percentages not explicitly stated in the transcript but financials for each segment are detailed in absolute terms.

• Believes there is a meaningful opportunity to grow NOI in 2026.
• Drivers include continued improvement in office leasing activity, full completion of hotel renovations, steady gains in multifamily performance through higher rental rates, improved occupancy and new unit delivery, and potential benefit of declining interest rate environment.

Q: A: Q: A: Operator stated there are no questions during the call