Creative Media & Community Trust Corporation

AI-generated fair value estimate for this company.

Method: Cap-rate sum-of-parts NAV

Reasoning: Q2 2026 (10-Q/press release, Jun 30 2026): 27 properties - 12 office (~1.3M sq ft, 72.3% leased, Oakland asset in default/no further capital), 5 multifamily (93.6% occupied), 1 hotel (505 rooms, 80.7% occ), 8 land parcels. Est. TTM revenue ~$108M split ~45% office/30% multifamily/20% hotel/5% other; applying segment NOI margins of ~40/55/25/20% gives NOI of ~$19.4M/$17.8M/$5.4M/~$1M. Capitalizing at risk-adjusted rates of 10.5% (office, reflecting low leasing and Oakland default), 7.0% (multifamily), 9.5% (hotel), plus ~$10M assigned to land, yields gross real estate value of ~$506M. Adding cash+restricted cash of $36.7M and subtracting total debt of $498.8M (per Q2 2026 balance sheet) gives NAV to common of ~$43.8M, or ~$15.10/share over 2.9M shares outstanding. This is far above the $3.62 market price, implying the market is pricing in substantial going-concern, dilution and refinancing risk (negative FFO every recent quarter, two reverse splits in ~18 months, ~80% debt/asset-value leverage) beyond what static cap rates capture.