Creative Media & Community Trust Corp
For the period ended Dec 31, 2023. Filed Mar 29, 2024.
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FY2023 · Filed Mar 29, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule III—Real Estate and Accumulated Depreciation
| Initial Cost · NetImprovements(Write-Offs)SinceAcquisition · Gross Amount at Which Carried (2) | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Property Name,City and State · Encumbrances · Land · BuildingandImprovements · Land · BuildingandImprovements · Total · Acc.Deprec. · Year Built /Renovated · Year ofAcquisition | |||||||||||||||||||||||||||
| Office | |||||||||||||||||||||||||||
| 3601 S Congress Avenue (1) | |||||||||||||||||||||||||||
| Austin, TX | $— | $9,569 | $18,593 | $14,976 | $9,569 | $33,569 | $43,138 | $10,468 | 1918 / 2001 & 2020 | 2007 | |||||||||||||||||
| 1 Kaiser Plaza | |||||||||||||||||||||||||||
| Oakland, CA | 97,100 | 9,261 | 113,619 | 14,353 | 9,261 | 127,972 | 137,233 | 54,338 | 1970 / 2008 | 2008 | |||||||||||||||||
| 2 Kaiser Plaza Parking Lot (1) | |||||||||||||||||||||||||||
| Oakland, CA | — | 10,931 | 110 | 3,624 | 10,931 | 3,734 | 14,665 | — | N/A | 2015 | |||||||||||||||||
| 11600 Wilshire Boulevard (1) | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 3,477 | 18,522 | 2,780 | 3,477 | 21,302 | 24,779 | 7,902 | 1955 | 2010 | |||||||||||||||||
| 11620 Wilshire Boulevard (1) | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 7,672 | 51,999 | 8,214 | 7,672 | 60,213 | 67,885 | 21,902 | 1976 | 2010 | |||||||||||||||||
| 4750 Wilshire Boulevard | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 4,000 | — | 172 | 4,000 | 172 | 4,172 | — | 1984 / 2014 | 2014 | |||||||||||||||||
| Lindblade Media Center | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 6,341 | 11,568 | 721 | 6,341 | 12,289 | 18,630 | 3,136 | 1930 & 1957 / 2010 | 2014 | |||||||||||||||||
| 1037 N Sycamore | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 1,839 | 1,094 | 130 | 1,839 | 1,224 | 3,063 | 81 | 2000 / 2021 | 2021 | |||||||||||||||||
| 1130 Howard Street (1) | |||||||||||||||||||||||||||
| San Francisco, CA | — | 8,290 | 10,480 | (49) | 8,290 | 10,431 | 18,721 | 1,706 | 1930 / 2016 & 2017 | 2017 | |||||||||||||||||
| 9460 Wilshire Boulevard (1) | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 52,199 | 76,730 | 3,038 | 52,199 | 79,768 | 131,967 | 12,677 | 1959 / 2008 | 2018 | |||||||||||||||||
| 1021 E 7th Street | |||||||||||||||||||||||||||
| Austin, TX | — | 4,979 | 733 | (188) | 4,979 | 545 | 5,524 | 112 | 1972 / 2001 | 2020 | |||||||||||||||||
| 3101 S Western Avenue | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 2,279 | — | 1,091 | 2,279 | 1,091 | 3,370 | — | N/A | 2022 | |||||||||||||||||
| 3022 S Western Avenue | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 5,638 | 156 | 716 | 5,638 | 872 | 6,510 | 12 | N/A | 2022 | |||||||||||||||||
| 1007 E 7th Street | |||||||||||||||||||||||||||
| Austin, TX | — | 1,866 | 6 | 264 | 1,866 | 270 | 2,136 | — | 1920 | 2022 | |||||||||||||||||
| 3109 S Western Avenue | |||||||||||||||||||||||||||
| Los Angeles, CA | — | 712 | 2 | 117 | 712 | 119 | 831 | — | N/A | 2022 | |||||||||||||||||
| Channel House | |||||||||||||||||||||||||||
| Oakland, CA | 87,000 | 17,214 | 103,553 | 214 | 17,214 | 103,767 | 120,981 | 2,934 | 2021 | 2023 | |||||||||||||||||
| 1150 Clay | |||||||||||||||||||||||||||
| Oakland, CA | 66,600 | 16,643 | 115,828 | 288 | 16,643 | 116,116 | 132,759 | 2,968 | 2021 | 2023 | |||||||||||||||||
| F3 Land Site | |||||||||||||||||||||||||||
| Oakland, CA | — | 251 | — | 31 | 251 | 31 | 282 | — | N/A | 2023 | |||||||||||||||||
| 466 Water Street Land Site | |||||||||||||||||||||||||||
| Oakland, CA | — | 2,505 | — | 95 | 2,505 | 95 | 2,600 | — | N/A | 2023 | |||||||||||||||||
| Hotel | |||||||||||||||||||||||||||
| Sheraton Grand Hotel (1) | |||||||||||||||||||||||||||
| Sacramento, CA | — | 3,498 | 107,447 | 818 | 3,498 | 108,265 | 111,763 | 41,538 | 2001 | 2008 | |||||||||||||||||
| Sheraton Grand Hotel Parking & Retail (1) | |||||||||||||||||||||||||||
| Sacramento, CA | — | 6,551 | 10,996 | 322 | 6,551 | 11,318 | 17,869 | 4,342 | 2001 | 2008 | |||||||||||||||||
| $250,700 | $175,715 | $641,436 | $51,727 | $175,715 | $693,163 | $868,878 | $164,116 | ||||||||||||||||||||
(1)These properties collateralize the revolving credit facility, which had a $153.2 million outstanding balance as of December 31, 2023.
(2)The aggregate gross cost of property included above for federal income tax purposes approximates $956.9 million (unaudited) as of December 31, 2023.
Schedule III—Real Estate and Accumulated Depreciation (Continued)
The following table reconciles the Company’s investments in real estate from January 1, 2022 to December 31, 2023:
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (in thousands) | ||
| Investments in Real Estate | ||
| Balance, beginning of period | $660,413 | $642,702 |
| Additions: | ||
| Improvements | 10,969 | 10,548 |
| Property acquisitions | 255,993 | 10,756 |
| Deductions: | ||
| Asset sales | (49,484) | — |
| Retirements | (9,013) | (3,593) |
| Balance, end of period | $868,878 | $660,413 |
The following table reconciles the accumulated depreciation from January 1, 2022 to December 31, 2023:
| Year Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| (in thousands) | ||
| Accumulated Depreciation | ||
| Balance, beginning of period | $(158,407) | $(144,718) |
| Additions: depreciation | (22,384) | (17,282) |
| Deductions: | ||
| Assets held for sale | — | — |
| Asset sales | 7,662 | — |
| Retirements | 9,013 | 3,593 |
| Balance, end of period | $(164,116) | $(158,407) |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.