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Creative Media & Community Trust Q2 2026 NOI rises on multifamily recovery
The company linked the 22.0% increase in net operating income, excluding JV losses, to stronger multifamily performance across Los Angeles, Austin, and a Bay Area occupancy gain to 95.3%.
Creative Media & Community Trust Corporation reported a 22.0% increase in net operating income (excluding joint venture losses) in its Q2 2026 results, attributing the gain to improving conditions across its multifamily portfolio and select office and hotel assets, including properties in Los Angeles, Austin, and Sacramento.
The company said the multifamily segment benefited from a recovery in the Bay Area, where occupancy rose 1,190 basis points year over year to 95.3%. Management also cited a 12% gap between in-place rents and current asking rents in the Bay Area as a potential driver of organic NOI growth as leases roll to market rates.
For its office segment, performance was described as mixed, with steady leasing interest at Los Angeles and Austin properties but overall segment NOI weighed down by non-cash fair value adjustments within joint ventures. The Sacramento hotel saw an 11.0% NOI increase after completion of guestroom and public space renovations, which management said should support growth through 2026.
Management said it chose not to invest additional capital into an Oakland office property to refinance its maturing mortgage, and that negotiations with the servicer are ongoing for a long-term resolution. The company also said it is evaluating the sale of one or more real estate assets to strengthen its balance sheet, and plans to refinance the Sheraton Grand mortgage, while targeting 2026 to 2027 FFO improvement through preferred dividend reductions and improving market concessions.