CMCT reports Q2 net loss $0.10/share, FFO $0.11; CFO replaced

Creative Media & Community Trust Corp

2022-Q2 EPS reported -$0.22 revenue$51,185,000

Net loss attributable to common stockholders $2.3M ($0.10/diluted); FFO $2.6M ($0.11) vs $859K ($0.06) in Q2 2021.
Hotel occupancy improved to 77.5% (from 47.7% YoY), driving NOI to $3.2M vs -$2K.
Lending NOI dropped to $1.7M from $5.0M; expects materially lower lending revenue in H2 2022.
Barry Berlin promoted to CFO/Secretary, replacing Nathan DeBacker; effective Aug 10, 2022.
Acquired LA development site for $5.7M; planning 114 residential units.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Nathan DeBacker

Chief Financial Officer and Secretary

CMCT · Creative Media & Community Trust Corp

Effective: 2022-08-10
Successor: Barry Berlin
Filed: August 9, 2022, 7:59 PM ET

Nathan DeBacker, the prior Chief Financial Officer and Secretary of the Company, will focus on other responsibilities within CIM Group, the manager of the Company (including continuing as the Chief Financial officer of CIM Real Estate Finance Trust, Inc., a public non-listed REIT operated by an affiliate of CIM Group).

Role change

Barry Berlin

Chief Financial Officer and Secretary

CMCT · Creative Media & Community Trust Corp

Effective: 2022-08-10
Filed: August 9, 2022, 7:59 PM ET

Effective August 10, 2022, Barry Berlin, 62, an Executive Vice President of the Company and the Chief Executive Officer and Chairman of the Board of the Company’s lending division, will assume the additional roles of Chief Financial Officer and Secretary of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Nathan DeBacker departed as Chief Financial Officer and Secretary at Creative Media & Community Trust Corp.

Action: departed
Role: Chief Financial Officer and Secretary

Exact text from the filing

Nathan DeBacker, the prior Chief Financial Officer and Secretary of the Company, will focus on other responsibilities within CIM Group, the manager of the Company (including continuing as the Chief Financial officer of CIM Real Estate Finance Trust, Inc., a public non-listed REIT operated by an affiliate of CIM Group).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Barry Berlin changed role as Chief Financial Officer and Secretary at Creative Media & Community Trust Corp.

Action: assumed additional roles of
Role: Chief Financial Officer and Secretary

Exact text from the filing

Effective August 10, 2022, Barry Berlin, 62, an Executive Vice President of the Company and the Chief Executive Officer and Chairman of the Board of the Company’s lending division, will assume the additional roles of Chief Financial Officer and Secretary of the Company.

View on SEC.gov

Creative Media & Community Trust Corp filing history →

Source: SEC EDGAR

accession 0000908311-22-000087

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