CMCT Leasing Surges as NOI Drops in Q2
Creative Media & Community Trust (NASDAQ:CMCT) reported fiscal Q2 2025 results on Aug. 12, 2025, highlighting a core funds from operations (FFO) loss of $7.2 million and a year-over-year increase of
Creative Media Community Trust (NASDAQ:CMCT) reported fiscal Q2 2025 results on Aug. 12, 2025, highlighting a core funds from operations (FFO) loss of $7.2 million and a year-over-year increase of over 55% in leasing activity through July 2025. The call detailed progress on debt refinancing, multifamily development, and ongoing hotel renovations, while also disclosing a decline in net operating income (NOI) to $9.8 million from $11.8 million in the prior quarter and continued strategic asset sale evaluations. (Fiscal Q2 2025 ended June 30, 2025.)
The office segment reported approximately 140,000 square feet of new leases through July, heavily concentrated in Los Angeles and Austin, resulting in total office occupancy of 70% at the end of the quarter (rising to approximately 80% when excluding Oakland). This expansion follows 176,000 square feet leased in 2024 and a major, nearly 11-year commitment from Boston Scientific for Penfield Creative.
This sharp leasing momentum suggests increased activity and optimism in the market.
Source Fool.com