2022 Q4 Form 10-Q Financial Statement

#000090831122000097 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $25.87M $24.85M
YoY Change 2.96% 2.49%
Cost Of Revenue $14.57M $15.30M
YoY Change -4.92% 19.46%
Gross Profit $11.30M $9.553M
YoY Change 15.25% -16.5%
Gross Profit Margin 43.69% 38.44%
Selling, General & Admin $1.916M $2.108M
YoY Change 20.2% 29.72%
% of Gross Profit 16.95% 22.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.316M $5.127M
YoY Change 6.81% 0.22%
% of Gross Profit 47.03% 53.67%
Operating Expenses $7.193M $7.201M
YoY Change 10.0% 7.7%
Operating Profit $4.110M $2.352M
YoY Change 25.76% -50.54%
Interest Expense -$2.850M $2.193M
YoY Change 48.21% 0.37%
% of Operating Profit -69.34% 93.24%
Other Income/Expense, Net
YoY Change
Pretax Income $1.260M -$45.00K
YoY Change -6.32% -101.75%
Income Tax $316.0K $187.0K
% Of Pretax Income 25.08%
Net Earnings -$8.941M -$237.0K
YoY Change -1442.49% -114.59%
Net Earnings / Revenue -34.56% -0.95%
Basic Earnings Per Share -$0.50
Diluted Earnings Per Share -$0.39 -$0.50
COMMON SHARES
Basic Shares Outstanding 22.74M shares 23.21M shares
Diluted Shares Outstanding 23.21M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.19M $14.79M
YoY Change 107.03% 1.66%
Cash & Equivalents $46.19M $14.79M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $3.780M $3.930M
Other Receivables $0.00 $0.00
Total Short-Term Assets $49.97M $18.72M
YoY Change 94.38% 9.36%
LONG-TERM ASSETS
Property, Plant & Equipment $502.0M $503.8M
YoY Change 0.81% 0.98%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.38M $12.10M
YoY Change
Other Assets $48.83M $48.41M
YoY Change 2.95% 2.25%
Total Long-Term Assets $640.3M $646.9M
YoY Change 0.81% -1.68%
TOTAL ASSETS
Total Short-Term Assets $49.97M $18.72M
Total Long-Term Assets $640.3M $646.9M
Total Assets $690.2M $665.6M
YoY Change 4.45% -1.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $107.2M $24.34M
YoY Change 300.81% 42.94%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $110.4M $28.32M
YoY Change 252.73% 7.08%
LONG-TERM LIABILITIES
Long-Term Debt $184.3M $216.4M
YoY Change -8.39% -2.59%
Other Long-Term Liabilities $17.88M $19.62M
YoY Change 4.55% 28.82%
Total Long-Term Liabilities $202.1M $236.1M
YoY Change -7.38% -0.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $110.4M $28.32M
Total Long-Term Liabilities $202.1M $236.1M
Total Liabilities $312.5M $264.4M
YoY Change 25.24% 0.19%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $23.00K $23.00K
YoY Change -4.17% -4.17%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $361.7M $371.8M
YoY Change
Total Liabilities & Shareholders Equity $690.2M $665.6M
YoY Change 4.45% -1.4%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$8.941M -$237.0K
YoY Change -1442.49% -114.59%
Depreciation, Depletion And Amortization $5.316M $5.127M
YoY Change 6.81% 0.22%
Cash From Operating Activities $4.119M $3.003M
YoY Change -87.28% -176.1%
INVESTING ACTIVITIES
Capital Expenditures $2.433M -$4.454M
YoY Change -207.37% 14.47%
Acquisitions
YoY Change
Other Investing Activities $3.793M $16.57M
YoY Change -180.6% 454.05%
Cash From Investing Activities $1.360M $12.11M
YoY Change -119.51% -1444.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.20M -16.00M
YoY Change -240.72% -58.48%
NET CHANGE
Cash From Operating Activities 4.119M 3.003M
Cash From Investing Activities 1.360M 12.11M
Cash From Financing Activities 25.20M -16.00M
Net Change In Cash 30.68M -888.0K
YoY Change 308.74% -97.95%
FREE CASH FLOW
Cash From Operating Activities $4.119M $3.003M
Capital Expenditures $2.433M -$4.454M
Free Cash Flow $1.686M $7.457M
YoY Change -95.13% -13658.18%

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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Income Loss From Equity Method Investments
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us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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us-gaap Proceeds From Sale Of Loans Held For Sale
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176000 usd
cmct Proceeds From Equity Method Investment Distribution Return On Investment
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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1717000 usd
us-gaap Increase Decrease In Deferred Leasing Fees
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us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Due To Related Parties
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28291000 usd
us-gaap Net Cash Provided By Used In Operating Activities
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13894000 usd
us-gaap Payments To Develop Real Estate Assets
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us-gaap Payments To Develop Real Estate Assets
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us-gaap Payments To Acquire Real Estate
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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14436000 usd
us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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23667000 usd
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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cmct Payments Of Deferred Stock Issuance Costs
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
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us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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4781000 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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3000 usd
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5000 usd
us-gaap Proceeds From Minority Shareholders
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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cmct Stock Offering Costs Not Yet Paid
StockOfferingCostsNotYetPaid
477000 usd
cmct Stock Offering Costs Not Yet Paid
StockOfferingCostsNotYetPaid
738000 usd
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AccrualOfDividendsPayableToPreferredStockholders
5285000 usd
cmct Accrual Of Dividends Payable To Preferred Stockholders
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1029000 usd
cmct Offering Costs Offset Against Redeemable Preferred Stock Temporary Equity
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ReclassificationsOfTemporaryToPermanentEquity
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us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
34552000 usd
us-gaap Redeemable Preferred Stock Dividends
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us-gaap Redeemable Preferred Stock Dividends
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253000 usd
cmct Redeemable Preferred Stock Fees Incurred But Not Yet Paid
RedeemablePreferredStockFeesIncurredButNotYetPaid
509000 usd
cmct Redeemable Preferred Stock Fees Incurred But Not Yet Paid
RedeemablePreferredStockFeesIncurredButNotYetPaid
677000 usd
us-gaap Stock Issued1
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4083000 usd
us-gaap Stock Issued1
StockIssued1
4652000 usd
cmct Common Stock Issuance Costs Incurred But Not Yet Paid
CommonStockIssuanceCostsIncurredButNotYetPaid
0 usd
cmct Common Stock Issuance Costs Incurred But Not Yet Paid
CommonStockIssuanceCostsIncurredButNotYetPaid
1420000 usd
us-gaap Nature Of Operations
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<div style="margin-bottom:8pt;margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. ORGANIZATION AND OPERATIONS</span></div><div style="margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Creative Media &amp; Community Trust Corporation (formerly known as CIM Commercial Trust Corporation) (the “Company”), is a Maryland corporation and real estate investment trust (“REIT”). The Company primarily owns and operates Class A and creative office real assets in vibrant and improving metropolitan communities throughout the United States. The Company also owns one hotel in northern California and a lending platform that originates loans under the Small Business Administration (“SBA”) 7(a) loan program. The Company seeks to acquire, operate and develop premier multifamily and creative office assets that cater to rapidly growing industries such as technology, media and entertainment in vibrant and emerging communities throughout the United States. The Company seeks to apply the expertise of CIM Group, L.P. (“CIM Group”) to the acquisition, development and operation of top-tier multifamily properties situated in dynamic markets with similar business and employment characteristics to its creative office investments. </span></div><div style="margin-bottom:8pt;margin-top:9pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s common stock, $0.001 par value per share (“Common Stock”), is currently traded on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “CMCT”, and on the Tel Aviv Stock Exchange (the “TASE”) under the ticker symbol “CMCT-L.” The Company’s Series L preferred stock, $0.001 par value per share (“Series L Preferred Stock”), is currently traded on Nasdaq and on the TASE, in each case under the ticker symbol “CMCTP.” The Company has authorized for issuance 900,000,000 shares of common stock and 100,000,000 shares of preferred stock (“Preferred Stock”).</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">June 2022, the Company has</span> been conducting a continuous public offering with respect to shares of its Series A1 Preferred Stock, par value $0.001 per share with an initial stated value of $25.00 per share, subject to adjustment (Note 10).
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
900000000 shares
CY2022Q3 cmct Preferred Stock Including Temporary Equity Shares Authorized
PreferredStockIncludingTemporaryEquitySharesAuthorized
100000000 shares
us-gaap Fiscal Period
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Interim Financial Information</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The accompanying interim consolidated financial statements of the Company have been prepared by the Company’s management in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain information and note disclosures required for annual financial statements have been condensed or excluded pursuant to SEC rules and regulations. Accordingly, the interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements. The accompanying financial information reflects all adjustments which are, in the opinion of the Company’s management, of a normal recurring nature and necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the interim periods. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022 given, among other things, the uncertain impact of the novel coronavirus (“COVID-19”) on the Company’s operations during the remainder of the year. The accompanying interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto, included in the 2021 Form 10-K.</span>
CY2022Q3 us-gaap Equity Method Investments
EquityMethodInvestments
12100000 usd
us-gaap Impairment Of Real Estate
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CY2021Q3 us-gaap Impairment Of Real Estate
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us-gaap Impairment Of Real Estate
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CY2022Q3 us-gaap Incentive To Lessee
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4100000 usd
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3000000 usd
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2700000 usd
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us-gaap Operating Lease Lease Income Lease Payments
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us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34257000 usd
CY2022Q3 us-gaap Operating Lease Variable Lease Income
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2545000 usd
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3091000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7651000 usd
CY2022Q3 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
-9600000 usd
CY2021Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
-9600000 usd
cmct Loan And Leases Receivable Nonaccrual Loan And Lease Status Past Due Period
LoanAndLeasesReceivableNonaccrualLoanAndLeaseStatusPastDuePeriod
P60D
us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loan Loss Reserves</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—On a quarterly basis, the Company evaluates the collectability of its loans receivable. The Company’s evaluation of collectability involves significant judgment, estimates, and a review of the ability of the borrower to make principal and interest payments, the underlying collateral and the borrowers’ business models and future operations. For the three and nine months ended September 30, 2022, the Company recorded no net impairment losses on its loans receivable. For the three and nine months ended September 30, 2021, the Company recorded a net impairment of </span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$7,000</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </span><span style="color:#212529;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$11,000</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, respectively, on its loans receivable. There were no material loans receivable subject to credit risk which were considered to be </span>impaired as of September 30, 2022 or December 31, 2021. The Company considers a loan to be impaired when the Company does not expect to collect all of the contractual interest and principal payments as scheduled in the loan agreements. The Company also establishes a general loan loss reserve when available information indicates that it is probable a loss has occurred based on the carrying value of the portfolio and the amount of the loss can be reasonably estimated. Significant judgment is required in determining the general loan loss reserve, including estimates of the likelihood of default and the estimated fair value of the collateral. The general loan loss reserve includes those loans, which may have negative characteristics which have not yet become known to the Company. In addition to the reserves established on loans not considered impaired that have been evaluated under a specific evaluation, the Company establishes the general loan loss reserve using a consistent methodology to determine a loss percentage to be applied to loan balances. These loss percentages are based on many factors, primarily cumulative and recent loss history and general economic conditions.
CY2022Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
CY2021Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
7000 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
11000 usd
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1100000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
943000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
5239000 usd
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
14194000 usd
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
12838000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
42484000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
39496000 usd
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
337000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
579000 usd
CY2022Q3 cmct Tenant Reimbursements Excluding Lease Agreements
TenantReimbursementsExcludingLeaseAgreements
0 usd
cmct Tenant Reimbursements Excluding Lease Agreements
TenantReimbursementsExcludingLeaseAgreements
0 usd
CY2021Q3 cmct Tenant Reimbursements Excluding Lease Agreements
TenantReimbursementsExcludingLeaseAgreements
0 usd
cmct Tenant Reimbursements Excluding Lease Agreements
TenantReimbursementsExcludingLeaseAgreements
0 usd
CY2022Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33651000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
43649000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26800000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26145000 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14794000 usd
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14552000 usd
CY2022Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
12006000 usd
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
11593000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26800000 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26145000 usd
us-gaap Interest Paid Net
InterestPaidNet
5995000 usd
us-gaap Interest Paid Net
InterestPaidNet
6585000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
905000 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
2100000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3561000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1118000 usd
CY2022Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
20993000 usd
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
20870000 usd
CY2022Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
9481000 usd
CY2021Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
8971000 usd
CY2022Q3 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
8511000 usd
CY2021Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
8453000 usd
CY2022Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
6413000 usd
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
6281000 usd
CY2022Q3 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
491000 usd
CY2021Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
491000 usd
CY2022Q3 cmct Deferred Rent Receivable And Charges Net
DeferredRentReceivableAndChargesNet
36408000 usd
CY2021Q4 cmct Deferred Rent Receivable And Charges Net
DeferredRentReceivableAndChargesNet
36095000 usd
CY2022Q3 us-gaap Land Improvements
LandImprovements
2701000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-11684000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3216000 usd
us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. The Company bases such estimates on historical experience, information available at the time, and assumptions the Company believes to be reasonable under the circumstances and at such time, including the impact of extraordinary events such as COVID-19. Actual results could differ from those estimates.</span>
CY2022Q3 us-gaap Land
Land
151718000 usd
CY2021Q4 us-gaap Land
Land
141236000 usd
CY2021Q4 us-gaap Land Improvements
LandImprovements
2644000 usd
CY2022Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
454868000 usd
CY2021Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
454431000 usd
CY2022Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
4374000 usd
CY2021Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
4398000 usd
CY2022Q3 us-gaap Tenant Improvements
TenantImprovements
35033000 usd
CY2021Q4 us-gaap Tenant Improvements
TenantImprovements
29733000 usd
CY2022Q3 us-gaap Development In Process
DevelopmentInProcess
11363000 usd
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
10260000 usd
CY2022Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
660057000 usd
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
642702000 usd
CY2022Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
156267000 usd
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
144718000 usd
CY2022Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
503790000 usd
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
497984000 usd
CY2022Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
4300000 usd
CY2021Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
4300000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
12800000 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
12700000 usd
cmct Percentage Of Ownership Acquired
PercentageOfOwnershipAcquired
1
cmct Number Of Properties Sold
NumberOfPropertiesSold
0 property
cmct Percentage Of Ownership Acquired
PercentageOfOwnershipAcquired
1
cmct Number Of Properties Sold
NumberOfPropertiesSold
0 property
CY2022Q3 cmct Business Combination Recognized Identifiable Asset Acquired And Liability Assumed Below Market Lease
BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease
37000 usd
CY2021Q3 cmct Business Combination Recognized Identifiable Asset Acquired And Liability Assumed Below Market Lease
BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease
0 usd
CY2022Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
10776000 usd
CY2021Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
2933000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-16844000 usd
CY2022Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
66359000 usd
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
73260000 usd
CY2022Q3 cmct Financing Receivables Deferred Capitalized Costs Net
FinancingReceivablesDeferredCapitalizedCostsNet
1373000 usd
CY2021Q4 cmct Financing Receivables Deferred Capitalized Costs Net
FinancingReceivablesDeferredCapitalizedCostsNet
1226000 usd
CY2022Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1105000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
943000 usd
CY2022Q3 us-gaap Notes Receivable Net
NotesReceivableNet
66627000 usd
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
73543000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-15632000 usd
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4664000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5251000 usd
CY2022Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1123000 usd
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1134000 usd
cmct Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P5Y
CY2021 cmct Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life
AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife
P5Y
CY2022Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
67000 usd
CY2021Q3 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
79000 usd
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23209000 shares
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23349000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23303000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17784000 shares
CY2022Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
196000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
278000 usd
CY2021Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
201145000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
110000000 usd
us-gaap Repayments Of Debt
RepaymentsOfDebt
95583000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
880000 usd
CY2022Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
216442000 usd
CY2022Q3 cmct Line Of Credit Facility Accrued Interest And Unused Commitment Fee Payable
LineOfCreditFacilityAccruedInterestAndUnusedCommitmentFeePayable
351000 usd
CY2021Q4 cmct Line Of Credit Facility Accrued Interest And Unused Commitment Fee Payable
LineOfCreditFacilityAccruedInterestAndUnusedCommitmentFeePayable
467000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
408000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
85501000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
520000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
569000 usd
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
97610000 usd
CY2022Q3 cmct Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
33350000 usd
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
217958000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11684000 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3216000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16844000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15632000 usd
CY2022Q3 cmct Dilutive Securities Effect On Basic Earnings Per Share Redeemable Preferred Stock Dividends
DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends
0 usd
CY2021Q3 cmct Dilutive Securities Effect On Basic Earnings Per Share Redeemable Preferred Stock Dividends
DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends
0 usd
cmct Dilutive Securities Effect On Basic Earnings Per Share Redeemable Preferred Stock Dividends
DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends
0 usd
cmct Dilutive Securities Effect On Basic Earnings Per Share Redeemable Preferred Stock Dividends
DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends
0 usd
CY2021Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23209000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23350000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23303000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17784000 shares
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.88
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.72
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.88
cmct Preferred Stock And Warrants Offering Costs Non Issuance Specific Costs
PreferredStockAndWarrantsOfferingCostsNonIssuanceSpecificCosts
9100000 usd
CY2020Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
0.25 shares
CY2020Q1 cmct Preferred Stock Warrant Included In Preferred Stock Unit
PreferredStockWarrantIncludedInPreferredStockUnit
1 shares
CY2020Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
0.25 shares
cmct Preferred Stock And Warrants Offering Costs Non Issuance Specific Costs
PreferredStockAndWarrantsOfferingCostsNonIssuanceSpecificCosts
9100000 usd
us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
170600000 usd
cmct Preferred Stock And Warrants Offering Costs Non Issuance Specific Costs
PreferredStockAndWarrantsOfferingCostsNonIssuanceSpecificCosts
9100000 usd
CY2021Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
7010799 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
3972000 usd
CY2020Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
0.25 shares
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000 usd
CY2022Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
41374 shares
CY2022Q2 cmct Stock Repurchase Program Average Cost Per Share
StockRepurchaseProgramAverageCostPerShare
7.32
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
303000 usd
CY2022Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
33374 shares
CY2022Q3 cmct Stock Repurchase Program Average Cost Per Share
StockRepurchaseProgramAverageCostPerShare
7.15
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
239000 usd
CY2022Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
587714 shares
CY2022Q3 cmct Stock Repurchase Program Average Cost Per Share
StockRepurchaseProgramAverageCostPerShare
7.10
CY2022Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4173000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
662462 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4715000 usd
CY2022Q1 us-gaap Incentive Fee Expense
IncentiveFeeExpense
0 usd
CY2022Q3 cmct Outstanding Loan Commitments And Approvals To Fund Loans
OutstandingLoanCommitmentsAndApprovalsToFundLoans
11500000 usd
CY2022Q3 cmct Tenant Improvements Obligations
TenantImprovementsObligations
5600000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
11398000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
45753000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
44554000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
28263000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
20592000 usd
CY2022Q3 cmct Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
66231000 usd
CY2022Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
216791000 usd
CY2021Q3 cmct Number Of Types Of Commercial Real Estate Properties
NumberOfTypesOfCommercialRealEstateProperties
2 property
cmct Number Of Types Of Commercial Real Estate Properties
NumberOfTypesOfCommercialRealEstateProperties
2 property
CY2022Q3 cmct Number Of Types Of Commercial Real Estate Properties
NumberOfTypesOfCommercialRealEstateProperties
2 property
cmct Number Of Types Of Commercial Real Estate Properties
NumberOfTypesOfCommercialRealEstateProperties
2 property
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-45000 usd
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2570000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5816000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
796000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
187000 usd
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
946000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
815000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2316000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-232000 usd
CY2021Q3 us-gaap Profit Loss
ProfitLoss
1624000 usd
us-gaap Profit Loss
ProfitLoss
5001000 usd
us-gaap Profit Loss
ProfitLoss
-1520000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000 usd
CY2021Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-4000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-237000 usd
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
1624000 usd
us-gaap Net Income Loss
NetIncomeLoss
4982000 usd
us-gaap Net Income Loss
NetIncomeLoss
-1516000 usd
CY2022Q3 us-gaap Assets
Assets
665597000 usd
CY2021Q4 us-gaap Assets
Assets
660866000 usd
cmct Capital Expenditures
CapitalExpenditures
7205000 usd
cmct Capital Expenditures
CapitalExpenditures
2632000 usd
cmct Disposal Group Including Discontinued Operation New Mortgage Loans
DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans
35956000 usd
cmct Disposal Group Including Discontinued Operation New Mortgage Loans
DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans
119479000 usd
cmct Capital Expenditures And Disposal Group Originations Cost
CapitalExpendituresAndDisposalGroupOriginationsCost
43161000 usd
cmct Capital Expenditures And Disposal Group Originations Cost
CapitalExpendituresAndDisposalGroupOriginationsCost
122111000 usd

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