Creative Media & Community Trust Corp Q3 FY2025 earnings call

• Strategic initiatives: Executing refinancing program and evaluating selective asset sales, entered into definitive agreement to sell lending business (estimated $44M purchase price, ~$31M after expenses), completed financings on seven assets and put in place warehouse facility for lending division, working on upsize of mortgage on Penfield. - Multifamily business: Four operating assets, 701 South Hudson multifamily occupancy up from 68% to ~81% in Q3, 1915 Park in LA to deliver this month, San Francisco multifamily properties improving with 5.2% rent growth in Q3. - Office segment: Through first nine months of 2025, executed 159,000 sq ft of leases (69% increase vs same period 2024), office portfolio 73.6% leased, excluding Oakland office property 86.6% leased. - Hotel: Nearing completion of $11M renovation of public space at Sheraton Grand Sacramento, including upgrades to ballroom, banquet space, etc., funded by key money, cash flow, and future mortgage funding.

For the third quarter, overall net operating income was $7 million. Within the office segment, NOI declined by approximately $500,000 from the second quarter, largely due to lower appraised value at one of our JVs; wholly-owned office properties saw modest increase. Hotel NOI was $850,000 in the quarter compared to $4.2 million in the second quarter, primarily reflecting disruption from renovation of public space. Multifamily NOI increased by approximately $600,000 from the prior quarter, due to lower appraisal impact in Q3 and decrease in real estate tax expense. Lending segment NOI increased by approximately $360,000, primarily due to higher reserve taken in the second quarter. In terms of revenue contribution, details would be derived from the specific percentages related to each segment's contribution to the overall $7 million NOI, but exact percentages weren't explicitly stated in absolute terms of total revenue but by segment performance changes.

• Opportunities to improve cash flow in 2026 supported by continued improvement in office leasing activity, full completion of hotel renovation, steady gains in multifamily through higher rental rates, improved occupancy, delivery of new units, and more favorable interest rate environment.

• Forward-looking statements are based on beliefs and assumptions, actual results may differ due to known and unknown risks, trends, uncertainties, and other factors beyond control or prediction. For a more detailed description of potential risks, refer to SEC file on Investor Relations section of website.

Q: Are there any questions?

A: Operator states there are no questions and concludes the conference