Core Insights - Creative Media & Community Trust Corporation reported a net loss of $17.7 million for Q3 2025, a significant improvement from a net loss of $34.8 million in Q3 2024, primarily due to reduced preferred stock redemptions and dividends [9][10][45] - The company is focusing on enhancing its multifamily asset portfolio, improving liquidity, and evaluating additional asset sales, including a recent agreement to sell its lending business for approximately $44 million [2][3][4] Real Estate Portfolio - As of September 30, 2025, the real estate portfolio comprised 27 assets, including 12 office properties totaling approximately 1.3 million rentable square feet and four multifamily properties totaling 696 units [8] - The office portfolio was 73.6% leased, an increase from 81.7% at the end of 2024, while the occupancy rate was 69.8%, a decrease of 240 basis points year-over-year [6][14] Financial Results - Total revenues for Q3 2025 were $26.2 million, down from $28.6 million in Q3 2024, with rental and other property income decreasing from $18.2 million to $16.2 million [44] - Funds from operations (FFO) attributable to common stockholders were $(11.1) million, compared to $(28.4) million in the same period last year [10][46] Segment Information - The office segment reported a same-store net operating income (NOI) of $5.0 million for Q3 2025, down from $5.4 million in Q3 2024, primarily due to decreased rental revenues [12][13] - The hotel segment's NOI decreased to $850,000 from $1.0 million, impacted by renovations, while occupancy improved to 68.9% from 55.5% [18] - The multifamily segment's NOI increased to $792,000 from $508,000, driven by lower real estate taxes despite decreased revenues due to lower occupancy [20] Debt and Equity - The company refinanced an $81.0 million mortgage loan at a multifamily property, extending the maturity date to January 2027 [22] - As of September 30, 2025, total assets were $871.8 million, down from $889.6 million at the end of 2024, with total liabilities increasing to $588.9 million from $562.5 million [43][44]