Creative Media & Community Trust Corporation
NASDAQ:CMCT
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Creative Media & Community Trust Corporation
NASDAQ:CMCT
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US |
Creative Media & Community Trust Corporation
CIM Commercial Trust Corp. engages in the acquisition, ownership, and operation of Class A and office assets. The company is headquartered in Dallas, Texas and currently employs 5 full-time employees. The firm focuses on acquisition, ownership, operation, and development of office, multifamily, retail, parking, infill industrial and limited-service hospitality real assets in communities. The firm serves industries, such as technology, media and entertainment. The firm's segments consist of two types of commercial real estate properties, namely office and hotel, as well as a segment for its lending business, which primarily originates loans to small businesses. The company is operated by affiliates of CIM Group, L.P. (CIM Group). CIM Group is an owner and operator of real assets with skills including in-house research, acquisition, credit analysis, development, finance, leasing, and property management capabilities, and its affiliates.
CIM Commercial Trust Corp. engages in the acquisition, ownership, and operation of Class A and office assets. The company is headquartered in Dallas, Texas and currently employs 5 full-time employees. The firm focuses on acquisition, ownership, operation, and development of office, multifamily, retail, parking, infill industrial and limited-service hospitality real assets in communities. The firm serves industries, such as technology, media and entertainment. The firm's segments consist of two types of commercial real estate properties, namely office and hotel, as well as a segment for its lending business, which primarily originates loans to small businesses. The company is operated by affiliates of CIM Group, L.P. (CIM Group). CIM Group is an owner and operator of real assets with skills including in-house research, acquisition, credit analysis, development, finance, leasing, and property management capabilities, and its affiliates.
Balance sheet: CMCT has materially strengthened its balance sheet — retired its recourse credit facility, completed nine refinancings, sold the lending division and redeemed about $153.3 million of preferred into common since September 2024.
Preferred conversion: Company announced redemption of ~2.0M Series A, ~7.8M Series A1 and ~22k Series D preferred shares to be paid in common stock, expected to boost annual FFO by ~ $16 million.
Operations improving: Portfolio operating trends are improving — overall segment NOI was $10.9M in Q4 2025 (up from $9.2M year-ago) and occupancy gains across multifamily and most office assets.
Multifamily leasing: Multifamily occupancy (excluding certain LA assets) rose to 88.5% at year-end 2025, up 320 bps from Q3 and 680 bps YoY; select developments (701 South Hudson and 1915 Park) showing early leasing momentum.
Hotel repositioning: Sheraton Grand Sacramento renovations substantially complete (public spaces) after prior guestroom renovation; hotel NOI improved to $2.1M in Q4 and company expects stronger 2026 performance.
Divestitures & liquidity: Lending division sold for ~$44.9M (net of related debt) generating ~ $31.2M net cash proceeds; company continues to evaluate additional asset sales to enhance liquidity.
FFO and core FFO: Reported FFO was negative $7.1M (−$4.49 per diluted share); core FFO was negative $5.9M (−$3.74 per diluted share), both improved vs prior-year comparables.
