Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One): ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13610 CREATIVE MEDIA & COMMUNITY TRUST CORPORATION (Exact name of registrant as specified in its charter) (Stat ...

Creative Media & Community Trust (CMCT) Q1 2025 Earnings Call May 09, 2025 12:00 PM ET Company Participants Steve Altebrando - 1st VP Portfolio OversightDavid Thompson - Chief Executive OfficerBarry Berlin - Executive VP, CFO, Treasurer & Secretary Operator Good day, and welcome to the Creative Media and Community Trust Corporation First Quarter twenty twenty five Earnings Call. All participants will be in a listen only mode. After today's presentation, there will be an opportunity to ask questions. Please ...

Financial Data and Key Metrics Changes - Core FFO improved by approximately $1,900,000 from the prior quarter, primarily due to higher net operating income and lower preferred dividends [8] - Net operating income increased by approximately $2,600,000 from the prior quarter, driven by a $2,600,000 improvement at the hotel [8] - First quarter NOI at the hotel increased 15% year over year [9] - FFO was negative $5,400,000 or negative $9.42 per diluted share compared to negative $5,900,000 or negative $60.42 per diluted share in the prior year [19] - Core FFO was negative $5,100,000 or negative $8.85 per diluted share compared to negative $4,400,000 or negative $45.15 per diluted share in the prior year [19] Business Line Data and Key Metrics Changes - Multifamily NOI decreased by $1,500,000 from the prior quarter due to lower occupancy [9] - Office NOI improved by $1,900,000 from the prior quarter, with increased leasing activity particularly in Los Angeles and Austin [9] - Hotel segment NOI for Q1 2025 was $4,700,000 compared to $4,100,000 in the prior year, driven by increased occupancy and average daily rate [19] - Lending NOI declined to $590,000 from $789,000 in the prior year, primarily due to decreased interest income [19] Market Data and Key Metrics Changes - Multifamily occupancy at 701 South Hudson reached approximately 41% at the end of the quarter, up from 22% at year-end [11] - Office lease percentage was 71.4% at the end of the quarter, and 83% when excluding the Oakland office [14] - The Oakland residential market recovery is expected to take time due to broader economic headwinds and local market dynamics [13] Company Strategy and Development Direction - The company is focused on improving its balance sheet and liquidity while accelerating its focus on premier multifamily assets [5] - The company has fully repaid its recourse corporate level credit facility, enhancing financial flexibility [6] - The company is actively evaluating potential asset sales to strengthen its balance sheet and grow its multifamily portfolio [8] Management's Comments on Operating Environment and Future Outlook - Management noted significant opportunities to grow multifamily net operating income through improving occupancy and marketing rents [10] - The company anticipates starting a renovation of the public space at the hotel later this year, positioning the asset well for 2026 [15] - Management expressed optimism about the leasing activity in Los Angeles and Austin, indicating a positive trend in the office segment [14] Other Important Information - The company completed a refinancing on its office property in Austin, Texas, using a portion of the proceeds to pay off its credit facility [20] - A one-for-25 reverse split of common stock was approved by shareholders [20] Q&A Session Summary - No questions were raised during the Q&A session, leading to the conclusion of the conference call [21]

Exhibit 99.1 Creative Media & Community Trust Corporation Reports 2025 First Quarter Results Dallas—(May 9, 2025) Creative Media & Community Trust Corporation (NASDAQ and TASE: CMCT) ("we", "our", "CMCT", or the "Company"), today reported operating results for the three months ended March 31, 2025. On April 15, 2025, the previously announced 1-for-25 reverse stock split of our Common Stock became effective. All of the share and per share amounts in this release have been adjusted to give retroactive effect ...

Financial Data and Key Metrics Changes - Core FFO improved by approximately $4.5 million from the prior quarter primarily due to higher NOI, lower interest expense, and lower preferred dividends [11] - Net operating income (NOI) increased by $1.6 million from the third quarter, mainly driven by the Hotel Segment which increased by $1.1 million [11] - FFO was negative $8.7 million or negative $0.93 per diluted share compared to negative $9.9 million or negative $4.07 per diluted share in the prior year [27] - Core FFO was negative $7 million or negative $0.75 per diluted share compared to negative $8.4 million or negative $3.46 per diluted share in the prior year [27] Business Line Data and Key Metrics Changes - Hotel operations experienced a decrease in NOI of approximately $828,000, resulting in $2.1 million for Q4 2024 compared to $2.9 million in the prior year [26] - Multifamily segment reported NOI of approximately $855,000 during Q4 2024, down from approximately $1.1 million in the prior year [25] - Office segment NOI for Q4 2024 was $5.2 million versus $5.4 million during Q4 2023, driven by a decrease in rental revenue at the Oakland property [24] Market Data and Key Metrics Changes - Total occupancy in the multifamily segment declined about 220 basis points from the prior quarter but increased 240 basis points year-over-year [17] - Office lease percentage was 71% at the end of Q4, and 82% when excluding one office building in Oakland [20] Company Strategy and Development Direction - Company remains focused on improving balance sheet and liquidity, growing multifamily portfolio, and reducing traditional office assets [7] - Significant progress made in reducing corporate debt, with the balance on the credit facility down to $15 million from $169 million [9] - Company is evaluating asset sales to strengthen balance sheet and improve liquidity [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging environment for financing office properties but expressed optimism about progress made in refinancing and reducing debt [9] - Leasing activity has been steadily picking up, particularly in L.A. and Austin assets, despite work-from-home trends impacting occupancy [21] Other Important Information - Company is seeking shareholder approval for a 1 for 25 reverse stock split to improve stock price following recent preferred common redemptions [28] - Renovation projects are underway, including a $21 million room renovation at the Sheraton Grand Hotel [14] Q&A Session Summary - No questions were raised during the Q&A session [29]

UNITED STATES Table of Contents SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-13610 CREATIVE MEDIA & COMMUNITY TRUST CORPORATION (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organiz ...

Creative Media & Community Trust Corporation (NASDAQ:CMCT) Q4 2024 Earnings Conference Call March 7, 2025 11:30 AM ET Company Participants Steve Altebrando – Portfolio Oversight David Thompson – Chief Executive Officer Barry Berlin – Chief Financial Officer Conference Call Participants Operator Good morning, everyone, and welcome to the Creative Media & Community Trust Fourth Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presenta ...

Financial Performance - The net loss attributable to common stockholders for Q4 2024 was $16.6 million, or $1.78 per diluted share, compared to a net loss of $16.3 million, or $6.66 per diluted share in Q4 2023[5]. - Total revenues for Q4 2024 were $27,459, a decrease of 6.8% compared to $29,468 in Q4 2023[31]. - Net loss attributable to common stockholders for Q4 2024 was $16,606, compared to a loss of $16,263 in Q4 2023, representing an increase in loss of 2.1%[35]. - Funds from Operations (FFO) attributable to common stockholders for Q4 2024 was $(8,656), a slight improvement from $(9,939) in Q4 2023[35]. - Core Funds from Operations (Core FFO) attributable to common stockholders for Q4 2024 was $(6,953), compared to $(8,445) in Q4 2023, indicating a 17.6% improvement[39]. - Basic net loss per share for Q4 2024 was $(1.78), compared to $(6.66) in Q4 2023, showing a significant reduction in loss per share[31]. - The company reported a net loss attributable to the Company of $10,265,000 for Q4 2024, compared to a net loss of $8,402,000 in Q4 2023, indicating an increase in losses of 22.1%[43][44]. Operational Metrics - The same-store office portfolio was 71.0% leased, with an annualized rent per occupied square foot of $60.48, up from $57.28 in the previous year[7]. - The multifamily segment NOI decreased to $855,000 for Q4 2024, compared to $1.1 million in Q4 2023, with an occupancy rate of 81.7%[11]. - Hotel segment NOI was $2.1 million for Q4 2024, down from $2.9 million in Q4 2023, with occupancy dropping to 54.5% from 69.9%[9]. - The company executed 175,654 square feet of leases with terms longer than 12 months in the same-store office portfolio during Q4 2024[7]. - Total segment net operating income (NOI) was $9.2 million for Q4 2024, down from $10.8 million in Q4 2023[7]. - Cash net operating income for the three months ended December 31, 2024, was $10,166,000, a decrease of 21.3% compared to $12,915,000 for the same period in 2023[43][44]. - Segment net operating income for the same period in 2024 was $9,158,000, down from $10,764,000 in 2023, reflecting a decline of 14.9%[43][44]. - Cash NOI for the real estate segments was $6,234,000 in Q4 2024, down from $6,815,000 in Q4 2023, a decrease of 8.5%[43][44]. - The total cash NOI for the lending segment was $980,000 in Q4 2024, compared to $1,311,000 in Q4 2023, reflecting a decline of 25.3%[43][44]. Financial Position - Total assets decreased from $891,200,000 as of December 31, 2023, to $889,555,000 as of December 31, 2024, reflecting a decline of approximately 0.2%[30]. - Investments in real estate increased from $704,762,000 in 2023 to $709,194,000 in 2024, representing a growth of about 0.6%[30]. - Total liabilities rose from $514,431,000 in 2023 to $562,492,000 in 2024, indicating an increase of approximately 9.3%[30]. - Cash and cash equivalents increased from $19,290,000 in 2023 to $20,262,000 in 2024, a rise of about 5.0%[30]. - The company reported a significant increase in redeemable preferred stock from $0 in 2023 to $20,799,000 in 2024[30]. - Total stockholders' equity decreased from $374,403,000 in 2023 to $304,516,000 in 2024, a decline of approximately 18.6%[30]. Financing Activities - The company completed three property-level financings, reducing the balance on its recourse credit facility to $15 million from $169 million[3]. - The company closed a $105.0 million fixed-rate mortgage on three Los Angeles office properties and a variable-rate mortgage loan on its hotel property with an initial advance of $84.3 million[14]. - The company reported a loss on early extinguishment of debt of $1,416 for the year ended December 31, 2024[31]. - Redeemable preferred stock dividends declared for the year ended December 31, 2024 were $29,686, compared to $25,731 in 2023, reflecting an increase of 15.5%[31]. Future Outlook - The company plans to complete a 36-unit multifamily development in Echo Park, Los Angeles, expected to be completed in Q3 2025[3]. - The company plans to maintain or increase occupancy levels and raise in-place rents to existing market rents as part of its future growth strategy[27]. - Forward-looking statements indicate potential risks including fluctuations in market rents and the impact of inflation and interest rates on operations[27]. Expense Management - Total expenses for Q4 2024 were $37,287, an increase of 1.9% from $36,601 in Q4 2023[31]. - General and administrative expenses increased to $675,000 in Q4 2024 from $1,443,000 in Q4 2023, a reduction of 53.2%[43][44]. - The company’s transaction-related costs were $31,000 in Q4 2024, compared to $1,023,000 in Q4 2023, indicating a significant reduction of 96.9%[43][44]. - Interest expense for the three months ended December 31, 2024, was $8,356,000, compared to $9,465,000 in the same period of 2023, showing a decrease of 11.7%[43][44]. Performance Metrics - Core FFO and FFO should not be used as the sole measure of performance, as they exclude depreciation and amortization, which can materially impact operating results[21]. - The company emphasizes that Segment NOI and Cash NOI are not measures of operating results as per GAAP, but are useful for reflecting revenues and expenses associated with property operations[24].

Real Estate Portfolio - As of September 30, 2024, the real estate portfolio consisted of 27 assets, with 13 office properties totaling approximately 1.3 million rentable square feet at 72.2% occupancy[235] - The three multifamily properties achieved a 92.0% occupancy rate as of September 30, 2024[235] - The company has nine development sites, three of which are currently utilized as parking lots[235] - The strategy focuses on premier multifamily properties and creative office assets in vibrant metropolitan communities, targeting areas with high barriers to entry and positive population trends[236] Financial Performance - Total revenues for the three months ended September 30, 2024, were $28.6 million, a 1.8% increase from $28.1 million in the same period last year[259] - Total revenues for the nine months ended September 30, 2024, were $97.1 million, an increase of 8.1% compared to $89.8 million for the same period in 2023[286] - The net loss for the three months ended September 30, 2024, was $10.6 million, a significant reduction from a net loss of $16.6 million in the same period last year[259] - Net loss for the nine months ended September 30, 2024, was $15.3 million, a significant improvement from a net loss of $42.6 million in the same period of 2023, reflecting a decrease of $27.3 million[286] Revenue Breakdown - Office revenue decreased to $13.8 million for the three months ended September 30, 2024, down 1.6% from $14.0 million in the same period of 2023[267] - Hotel revenue decreased to $7.1 million for the three months ended September 30, 2024, a decline of 10.1% from $7.9 million in the same period of 2023, primarily due to lower occupancy[268] - Multifamily revenue increased to $4.8 million for the three months ended September 30, 2024, up 43.3% from $3.3 million in the same period of 2023, driven by higher occupancy and rent[270] - Office revenue increased to $42.5 million for the nine months ended September 30, 2024, a 2.5% increase from $41.5 million for the same period in 2023[294] - Multifamily revenue rose to $15.0 million for the nine months ended September 30, 2024, representing a 73.4% increase from $8.6 million for the same period in 2023[297] Occupancy and Rent Trends - As of September 30, 2024, occupancy rates for the office portfolio decreased to 72.2% from 82.6% in the previous year, while annualized rent per occupied square foot increased to $60.31 from $56.93[245] - Multifamily occupancy improved to 92.0% as of September 30, 2024, up from 84.1% in the previous year, with monthly rent per occupied unit at $2,555 compared to $2,869[251] - Hotel occupancy decreased to 71.4% for the nine months ended September 30, 2024, down from 76.9% in the previous year, with ADR increasing to $203.98 from $193.84[252] Expenses and Losses - Total expenses decreased by 16.4% to $37.9 million for the three months ended September 30, 2024, compared to $45.4 million in the previous year[259] - Office expenses increased to $7.6 million for the three months ended September 30, 2024, a rise of 19.3% from $6.3 million in the same period of 2023[274] - Multifamily expenses increased to $10.4 million for the nine months ended September 30, 2024, compared to $8.0 million for the same period in 2023, primarily due to expenses from newly acquired properties[304] Financing and Capital Structure - Financing strategies may include offerings of common stock, preferred stock, credit facilities, and cash flows from operations[243] - The company redeemed 2,589,606 shares of Series A1 Preferred Stock and 2,167,156 shares of Series A Preferred Stock in September 2024[328] - The aggregate commitments under the 2022 Credit Facility were reduced from $206.2 million to $169.3 million following the Third Modification Agreement[325] - The company refinanced its 2018 revolving credit facility with a new 2022 Credit Facility, allowing borrowing up to $150.0 million, with $169.3 million outstanding as of September 30, 2024[335] Cash Flow and Investments - Net cash provided by operating activities decreased by $0.9 million for the nine months ended September 30, 2024, compared to the same period in 2023[316] - Net cash used in investing activities decreased by $68.2 million for the nine months ended September 30, 2024, compared to the same period in 2023, primarily due to a decrease in real estate acquisitions of $96.7 million[317] - Net cash used in financing activities decreased by $61.3 million for the nine months ended September 30, 2024, compared to the same period in 2023, mainly due to net proceeds from the 2022 Credit Facility and mortgages of $7.3 million[318] Legal and Regulatory Matters - The company is not currently involved in any material pending or threatened legal proceedings that could materially affect its financial condition[360]

Financial Performance - Net loss attributable to common stockholders was $34.8 million, or $1.22 per diluted share for Q3 2024, compared to a net loss of $22.9 million, or $0.94 per diluted share in Q3 2023[6]. - Funds from operations (FFO) attributable to common stockholders was $(28.4) million, or $(1.00) per diluted share for Q3 2024, compared to $(7.5) million, or $(0.31) per diluted share in Q3 2023[7]. - Core FFO attributable to common stockholders was $(11.5) million, or $(0.40) per diluted share for Q3 2024, compared to $(7.1) million, or $(0.29) per diluted share in Q3 2023[7]. - Total revenues for the three months ended September 30, 2024, were $28,616 million, a 1.8% increase from $28,118 million in the same period of 2023[34]. - Rental and other property income increased to $18,150 million, up 6.4% from $17,061 million year-over-year[34]. - Total expenses decreased to $37,938 million, down 16.5% from $45,400 million in the same quarter of 2023[34]. - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $(34,775) million, compared to $(22,934) million in the same period of 2023[38]. - Funds from Operations (FFO) attributable to common stockholders for the three months ended September 30, 2024, was $(28,420) million, compared to $(7,478) million in 2023[38]. - Basic FFO per share for the three months ended September 30, 2024, was $(1.00), compared to $(0.31) in the same period of 2023[38]. - The company reported a net loss before provision for income taxes of $(10,561) million for the three months ended September 30, 2024, compared to $(16,093) million in 2023[34]. - The company experienced a loss from unconsolidated entities of $(1,239) million for the three months ended September 30, 2024, compared to a gain of $1,189 million in the same period of 2023[34]. - Total net loss attributable to the Company for the three months ended September 30, 2024, was $(10,384) thousand, compared to $(15,773) thousand for the same period in 2023, showing a 34% improvement[48]. Operational Metrics - Same-store office portfolio was 72.9% leased as of September 30, 2024, a decrease of 1,100 basis points year-over-year[8]. - Multifamily segment NOI increased to $508,000 for Q3 2024, compared to $(391,000) for the same period in 2023, with 92.0% occupancy[12]. - Hotel segment NOI was $973,000 for Q3 2024, down from $1.9 million in Q3 2023, primarily due to decreased occupancy from ongoing renovations[10]. - Total segment net operating income (NOI) was $7.6 million for Q3 2024, compared to $11.2 million for the same period in 2023[8]. - Cash net operating income for the total office segment for the three months ended September 30, 2024, was $6,415 thousand, down from $9,889 thousand in the same period of 2023, reflecting a 35% decrease[46]. - Segment net operating income for the total office segment for the three months ended September 30, 2024, was $5,419 thousand, compared to $9,318 thousand for the same period in 2023, a decline of 42%[46]. Asset and Liability Management - Total assets decreased from $891,200,000 on December 31, 2023, to $868,049,000 on September 30, 2024, representing a decline of approximately 2.6%[31]. - Cash and cash equivalents decreased from $19,290,000 to $18,454,000, a reduction of about 4.3%[31]. - Total liabilities increased from $514,431,000 to $524,389,000, reflecting a rise of approximately 1.8%[31]. - The company reported a decrease in investments in real estate, net, from $704,762,000 to $702,845,000, a decline of about 0.3%[31]. - Total stockholders' equity decreased from $374,403,000 to $320,961,000, a decline of approximately 14.3%[32]. - The Series A1 cumulative redeemable preferred stock saw an increase in shares issued and outstanding from 8,553,591 to 11,327,248[31]. Future Outlook and Strategy - The company plans to invest proceeds from refinancing and potential asset sales into premier multifamily properties[4]. - The company completed renovations of nearly 300 hotel rooms, with plans to finalize all 503 rooms by year-end 2024[4]. - The company anticipates future growth and plans to raise in-place rents to align with existing market rents[29]. - The company is focused on maintaining or increasing occupancy levels amidst fluctuations in market rents and inflationary pressures[29]. - The company plans to continue focusing on market expansion and new product development to enhance future performance[36]. - Forward-looking statements indicate potential risks including economic conditions and interest rate fluctuations that may impact profitability[29]. Shareholder Information - Weighted average shares of common stock outstanding increased to 28,493 million from 24,422 million year-over-year[38]. - The basic weighted average shares of common stock outstanding for the three months ended September 30, 2024, increased to 28,493 thousand from 24,422 thousand in the same period of 2023, a growth of 17%[42]. - Redeemable preferred stock redemptions for the three months ended September 30, 2024, amounted to $16,098 thousand, significantly higher than $352 thousand in the same period of 2023[42]. - Interest expense for the three months ended September 30, 2024, was $(8,830) thousand, compared to $(8,556) thousand for the same period in 2023, indicating a slight increase of 3%[46]. - The company reported transaction-related costs of $526 thousand for the three months ended September 30, 2024, compared to $38 thousand for the same period in 2023, marking a significant increase[46]. - Depreciation and amortization for the three months ended September 30, 2024, was $6,423 thousand, down from $16,082 thousand in the same period of 2023, a reduction of 60%[46].