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<!--XBRL Document Created with Wdesk from Workiva-->
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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel"/>
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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_150c38ba-dfcc-4b12-8617-c89190e5a9a6_terseLabel_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Furniture, fixtures, and equipment</link:label>
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_label_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fixtures and Equipment, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FixturesAndEquipmentGross" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FixturesAndEquipmentGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixturesAndEquipmentGross" xlink:to="lab_us-gaap_FixturesAndEquipmentGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_d6ce1d33-5c00-4ee1-b2c0-ad16512e20ab_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_NameOfMajorCustomerDomain_542b3256-e328-4e2a-b132-f7dd4972c968_terseLabel_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Domain]</link:label>
    <link:label id="lab_srt_NameOfMajorCustomerDomain_label_en-US" xlink:label="lab_srt_NameOfMajorCustomerDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_NameOfMajorCustomerDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_NameOfMajorCustomerDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_NameOfMajorCustomerDomain" xlink:to="lab_srt_NameOfMajorCustomerDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_03ce65ae-fed5-49ac-8d85-9605c43e1f29_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash and Cash Equivalents [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_d5246805-f733-4877-80e3-83aecd3608b3_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_63811e6a-7d32-4b47-8f12-d0b6d4eb5191_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredOfferingCosts_85612f4b-f19e-488d-bcf6-28b4fd352001_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred offering costs</link:label>
    <link:label id="lab_us-gaap_DeferredOfferingCosts_label_en-US" xlink:label="lab_us-gaap_DeferredOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Offering Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredOfferingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredOfferingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredOfferingCosts" xlink:to="lab_us-gaap_DeferredOfferingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock_a87689bc-ae7b-4778-a982-935dea91eec5_terseLabel_en-US" xlink:label="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Distributions</link:label>
    <link:label id="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock_label_en-US" xlink:label="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Distributions To Shareholders Policy [Policy Text Block]</link:label>
    <link:label id="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock_documentation_en-US" xlink:label="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of accounting policy for distributions to shareholders including dividends.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:href="cmct-20211231.xsd#cmct_DistributionsToShareholdersPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:to="lab_cmct_DistributionsToShareholdersPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_8fce282f-013c-44d0-b6cb-f2a7bbb1e752_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transaction costs</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_cf6fa59a-ec57-43f5-89d1-f27948ebdf45_negatedLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transaction costs</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination, Acquisition Related Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationAcquisitionRelatedCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:to="lab_us-gaap_BusinessCombinationAcquisitionRelatedCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockSharesIssuedTwoMember_f205486d-a13d-4141-8d05-55796cf9cf72_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued, Two</link:label>
    <link:label id="lab_cmct_PreferredStockSharesIssuedTwoMember_label_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued, Two [Member]</link:label>
    <link:label id="lab_cmct_PreferredStockSharesIssuedTwoMember_documentation_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued, Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockSharesIssuedTwoMember" xlink:href="cmct-20211231.xsd#cmct_PreferredStockSharesIssuedTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockSharesIssuedTwoMember" xlink:to="lab_cmct_PreferredStockSharesIssuedTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDueFromToRelatedParty_a5c25a25-7ed7-473b-9a0c-859115d9cb5c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDueFromToRelatedParty" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Due to related party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDueFromToRelatedParty_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDueFromToRelatedParty" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Due from (to) Related Party</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDueFromToRelatedParty" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedParty"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionDueFromToRelatedParty" xlink:to="lab_us-gaap_RelatedPartyTransactionDueFromToRelatedParty" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsCommonStockCash_a00fca9c-159c-47b7-a6fe-1f098d15a793_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Initial dividend on common stock</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStockCash_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends, Common Stock, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStockCash" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsCommonStockCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStockCash" xlink:to="lab_us-gaap_DividendsCommonStockCash" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_0f24522d-563d-44fb-b193-cdc5bcca96db_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_ExchangeDomain_780387b7-5d71-4c71-a747-6fc22a43258b_terseLabel_en-US" xlink:label="lab_dei_ExchangeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exchange [Domain]</link:label>
    <link:label id="lab_dei_ExchangeDomain_label_en-US" xlink:label="lab_dei_ExchangeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Exchange [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_ExchangeDomain" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_ExchangeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_ExchangeDomain" xlink:to="lab_dei_ExchangeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AboveMarketLeasesAcquiredMember_89ccdc19-52bf-4d9c-81c3-ef525c035554_terseLabel_en-US" xlink:label="lab_cmct_AboveMarketLeasesAcquiredMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired above-market leases</link:label>
    <link:label id="lab_cmct_AboveMarketLeasesAcquiredMember_label_en-US" xlink:label="lab_cmct_AboveMarketLeasesAcquiredMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Above Market Leases Acquired [Member]</link:label>
    <link:label id="lab_cmct_AboveMarketLeasesAcquiredMember_documentation_en-US" xlink:label="lab_cmct_AboveMarketLeasesAcquiredMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Above Market Leases Acquired [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AboveMarketLeasesAcquiredMember" xlink:href="cmct-20211231.xsd#cmct_AboveMarketLeasesAcquiredMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AboveMarketLeasesAcquiredMember" xlink:to="lab_cmct_AboveMarketLeasesAcquiredMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member_34d6b336-6c7b-4967-b90f-3550a783e79a_terseLabel_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1,000,000 - 1,500,000</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member_label_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Of Investment Range From1000000 To1500000 [Member]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member_documentation_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the range of daily average gross fair value of investments between 1,000,000 to 1,500,000.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:href="cmct-20211231.xsd#cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:to="lab_cmct_FairValueOfInvestmentRangeFrom1000000To1500000Member" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross_198277a9-48d4-47c8-9a77-d8eed10c79e7_terseLabel_en-US" xlink:label="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gross proceeds from sale of preferred stock</link:label>
    <link:label id="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross_label_en-US" xlink:label="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds From Issuance Of Preferred Stock, Preference Stock, And Warrants, Gross</link:label>
    <link:label id="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross_documentation_en-US" xlink:label="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds From Issuance Of Preferred Stock, Preference Stock, And Warrants, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:href="cmct-20211231.xsd#cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:to="lab_cmct_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsGross" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AcquiredBelowMarketLeasesMember_540369bb-eadb-4f80-8af0-05719f585150_terseLabel_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Below Market Leases</link:label>
    <link:label id="lab_cmct_AcquiredBelowMarketLeasesMember_label_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Below Market Leases [Member]</link:label>
    <link:label id="lab_cmct_AcquiredBelowMarketLeasesMember_documentation_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to leases acquired as part of a real property acquisition at below market lease rate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AcquiredBelowMarketLeasesMember" xlink:href="cmct-20211231.xsd#cmct_AcquiredBelowMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AcquiredBelowMarketLeasesMember" xlink:to="lab_cmct_AcquiredBelowMarketLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid_14106e19-c74c-418c-954a-41f5c665c938_terseLabel_en-US" xlink:label="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued Redeemable Preferred Stock fees</link:label>
    <link:label id="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid_label_en-US" xlink:label="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable Preferred Stock Fees Incurred But Not Yet Paid</link:label>
    <link:label id="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid_documentation_en-US" xlink:label="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable Preferred Stock Fees Incurred But Not Yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:href="cmct-20211231.xsd#cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:to="lab_cmct_RedeemablePreferredStockFeesIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember_3399067e-167e-4b8c-89e3-8878c9373fc9_terseLabel_en-US" xlink:label="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured Borrowings - Government Guaranteed Loans</link:label>
    <link:label id="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember_label_en-US" xlink:label="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured Borrowings Government Guaranteed Loans [Member]</link:label>
    <link:label id="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember_documentation_en-US" xlink:label="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to secured borrowings - government guaranteed loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:href="cmct-20211231.xsd#cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:to="lab_cmct_SecuredBorrowingsGovernmentGuaranteedLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member_7fe07811-b997-4668-b8f1-0d0d727cbd8c_terseLabel_en-US" xlink:label="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unsecured Revolving Credit Facility Due May 2022</link:label>
    <link:label id="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member_label_en-US" xlink:label="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unsecured Revolving Credit Facility Due May 2022 [Member]</link:label>
    <link:label id="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member_documentation_en-US" xlink:label="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unsecured Revolving Credit Facility Due May 2022 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:href="cmct-20211231.xsd#cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:to="lab_cmct_UnsecuredRevolvingCreditFacilityDueMay2022Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_a5dd0aa2-9677-40e6-aea0-bdac531572b9_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract" xlink:to="lab_us-gaap_SubsequentEventsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CimManagementEntitiesAffiliateMember_f3e84423-45cf-4557-bac3-10007f08f6fc_terseLabel_en-US" xlink:label="lab_cmct_CimManagementEntitiesAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Management Entities Affiiate</link:label>
    <link:label id="lab_cmct_CimManagementEntitiesAffiliateMember_label_en-US" xlink:label="lab_cmct_CimManagementEntitiesAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cim Management Entities Affiliate [Member]</link:label>
    <link:label id="lab_cmct_CimManagementEntitiesAffiliateMember_documentation_en-US" xlink:label="lab_cmct_CimManagementEntitiesAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents an affiliate of CIM Management Entities.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CimManagementEntitiesAffiliateMember" xlink:href="cmct-20211231.xsd#cmct_CimManagementEntitiesAffiliateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CimManagementEntitiesAffiliateMember" xlink:to="lab_cmct_CimManagementEntitiesAffiliateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination and Asset Acquisition [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationAndAssetAcquisitionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:to="lab_us-gaap_BusinessCombinationAndAssetAcquisitionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_261002f4-30d1-4bec-bf84-43625cf6225b_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_8c0f72a3-b33c-497f-88d3-fb3f40d74f4d_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reverse stock split ratio, common stock</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stockholders' Equity Note, Stock Split, Conversion Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquityNoteStockSplitConversionRatio1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:to="lab_us-gaap_StockholdersEquityNoteStockSplitConversionRatio1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_77855c0a-6fda-443d-a00e-3454afdbae19_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis" xlink:to="lab_us-gaap_BusinessAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock_f054e502-cd0d-4ae2-9128-19640db28e7a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock deemed dividends</link:label>
    <link:label id="lab_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock_label_en-US" xlink:label="lab_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase in Carrying Amount of Redeemable Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock" xlink:to="lab_us-gaap_IncreaseInCarryingAmountOfRedeemablePreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExaminationTable_d012bc21-9d40-4680-93c9-f2d7ff5a02ab_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Examination [Table]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExaminationTable_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExaminationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Examination [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExaminationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxExaminationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExaminationTable" xlink:to="lab_us-gaap_IncomeTaxExaminationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CIMServiceProviderLLCMember_d9db8441-b0ee-44dd-ac5a-015b1f98f489_terseLabel_en-US" xlink:label="lab_cmct_CIMServiceProviderLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Service Provider LLC</link:label>
    <link:label id="lab_cmct_CIMServiceProviderLLCMember_label_en-US" xlink:label="lab_cmct_CIMServiceProviderLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Service Provider L L C [Member]</link:label>
    <link:label id="lab_cmct_CIMServiceProviderLLCMember_documentation_en-US" xlink:label="lab_cmct_CIMServiceProviderLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to CIM Service Provider, LLC.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CIMServiceProviderLLCMember" xlink:href="cmct-20211231.xsd#cmct_CIMServiceProviderLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CIMServiceProviderLLCMember" xlink:to="lab_cmct_CIMServiceProviderLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_9f4a5a97-c532-4d4d-a7aa-16042811d924_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_4748942c-ef3f-4e75-ad1b-fa8559b08f93_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Future amortization of acquisition related intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract"/>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateLoanTypeDomain_739051c0-c2bc-47f4-a293-0791d71dc0ef_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLoanTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateLoanTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateLoanTypeDomain"/>
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    <link:label id="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable_789ef6f2-4b9c-4fd3-8208-f9f3f738ad42_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table]</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable" xlink:to="lab_us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTable" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember_98a11db0-32aa-4847-9eeb-d4867a2e25ba_terseLabel_en-US" xlink:label="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured borrowing principal on SBA 7(a) loans sold for a premium and excess spread</link:label>
    <link:label id="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember_label_en-US" xlink:label="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans Sold For Premium And Excess Spread [Member]</link:label>
    <link:label id="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember_documentation_en-US" xlink:label="lab_cmct_LoansSoldForPremiumAndExcessSpreadMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to loans sold for a premium and excess spread - principal.</link:label>
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    <link:label id="lab_dei_LocalPhoneNumber_43c78125-ab1e-48e4-a342-8a77c5051d7f_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_c5b5c26a-77d3-4ba9-930a-8a67a9124a9f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value, Nonrecurring</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value, Nonrecurring [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsLineItems_30566586-349a-43a2-97ef-5f03abd7dcd1_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</link:label>
    <link:label id="lab_us-gaap_OperatingLossCarryforwardsLineItems_label_en-US" xlink:label="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLossCarryforwardsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLossCarryforwardsLineItems" xlink:to="lab_us-gaap_OperatingLossCarryforwardsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmploymentContractsMember_22c4fd76-b5b6-4b2f-bb8c-941f4ef90349_terseLabel_en-US" xlink:label="lab_us-gaap_EmploymentContractsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Employment agreements</link:label>
    <link:label id="lab_us-gaap_EmploymentContractsMember_label_en-US" xlink:label="lab_us-gaap_EmploymentContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Employment Contracts [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmploymentContractsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EmploymentContractsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmploymentContractsMember" xlink:to="lab_us-gaap_EmploymentContractsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CIMUrbanREITManagementLPMember_fc6a6065-7d57-4183-b58c-a74855f32eab_terseLabel_en-US" xlink:label="lab_cmct_CIMUrbanREITManagementLPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Urban REIT Management L P</link:label>
    <link:label id="lab_cmct_CIMUrbanREITManagementLPMember_label_en-US" xlink:label="lab_cmct_CIMUrbanREITManagementLPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Urban R E I T Management L P [Member]</link:label>
    <link:label id="lab_cmct_CIMUrbanREITManagementLPMember_documentation_en-US" xlink:label="lab_cmct_CIMUrbanREITManagementLPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to CIM Urban REIT Management, LP.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CIMUrbanREITManagementLPMember" xlink:href="cmct-20211231.xsd#cmct_CIMUrbanREITManagementLPMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CIMUrbanREITManagementLPMember" xlink:to="lab_cmct_CIMUrbanREITManagementLPMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_ce507e0a-4d33-4cff-be03-e6aa00972fea_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_10d23c6b-933e-47ec-bd35-c5479efdeb20_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Distributions to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_170093ab-a29f-4a39-b165-d35bbf742f99_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Distributions in Excess of Earnings</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember_3cd98392-1c33-45ec-b56d-dd7ffe8b1bb5_terseLabel_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Annual Incentive Fee</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember_label_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Annual Incentive Fee [Member]</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember_documentation_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Annual Incentive Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:href="cmct-20211231.xsd#cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:to="lab_cmct_MasterServicesAgreementAmendmentAnnualIncentiveFeeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_9b180c55-db56-4901-b114-e515cbb446ad_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Above Market Leases</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AboveMarketLeasesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AboveMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember" xlink:to="lab_us-gaap_AboveMarketLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_64a58519-c396-4da7-b3fc-69e53947f140_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage payable</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFairValue" xlink:to="lab_us-gaap_DebtInstrumentFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember_cf5a9ad2-9db8-48ea-8dd5-6825b224a115_terseLabel_en-US" xlink:label="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock</link:label>
    <link:label id="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember_label_en-US" xlink:label="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock and Series A Cumulative Preferred Stock [Member]</link:label>
    <link:label id="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember_documentation_en-US" xlink:label="lab_cmct_SeriesAPreferredStockandSeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock and Series A Cumulative Preferred Stock [Member]</link:label>
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    <link:label id="lab_cmct_ContinuousPublicOfferingMember_14e579c8-b031-44de-9a74-024fd8832f45_terseLabel_en-US" xlink:label="lab_cmct_ContinuousPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuous Public Offering</link:label>
    <link:label id="lab_cmct_ContinuousPublicOfferingMember_label_en-US" xlink:label="lab_cmct_ContinuousPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuous Public Offering [Member]</link:label>
    <link:label id="lab_cmct_ContinuousPublicOfferingMember_documentation_en-US" xlink:label="lab_cmct_ContinuousPublicOfferingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Continuous Public Offering</link:label>
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    <link:label id="lab_cmct_ReserveForUncertainTaxPositions_14884440-cdc8-4c8a-a660-3daab9248ff5_terseLabel_en-US" xlink:label="lab_cmct_ReserveForUncertainTaxPositions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reserve for uncertain tax positions</link:label>
    <link:label id="lab_cmct_ReserveForUncertainTaxPositions_label_en-US" xlink:label="lab_cmct_ReserveForUncertainTaxPositions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reserve For Uncertain Tax Positions</link:label>
    <link:label id="lab_cmct_ReserveForUncertainTaxPositions_documentation_en-US" xlink:label="lab_cmct_ReserveForUncertainTaxPositions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The amount of reserve recognized for uncertain tax positions.</link:label>
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    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends_a22d1e3e-3e0e-4dc8-85cb-e45449d08c55_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividend increase per year for failure to timely declare or pay dividends</link:label>
    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends_label_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Temporary Dividend Rate Percentage Increase Upon Failure To Declare Or Pay Dividends</link:label>
    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends_documentation_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Temporary Dividend Rate Percentage Increase Upon Failure To Declare Or Pay Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends" xlink:href="cmct-20211231.xsd#cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividends"/>
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    <link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_ace16ae1-92f8-4b9c-a263-4920487149e5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:to="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_d3e11abd-a697-4e8d-9b35-a775a6c0a1e1_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carrying amount of mortgages</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_c2c9c62f-d159-41b7-94a9-a6630a21508f_periodStartLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance, beginning of period</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_0d7f69f9-af82-4393-9841-5b161d496caa_periodEndLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance, end of period</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MortgageLoansOnRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstate" xlink:to="lab_us-gaap_MortgageLoansOnRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts_f988d9b0-2052-40a2-b00a-f8cf29f70150_terseLabel_en-US" xlink:label="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transaction costs, capitalized</link:label>
    <link:label id="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts_4b4bcc81-298a-4e59-a8a0-419993070bdc_verboseLabel_en-US" xlink:label="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Transaction costs</link:label>
    <link:label id="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts_label_en-US" xlink:label="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset Acquisitions, Acquisition Related Transaction Costs</link:label>
    <link:label id="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts_documentation_en-US" xlink:label="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset Acquisitions, Acquisition Related Transaction Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:href="cmct-20211231.xsd#cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:to="lab_cmct_AssetAcquisitionsAcquisitionRelatedTransactionCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_003e145c-20df-4b8b-aae4-48ebf69c8a34_terseLabel_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued capital expenditures, tenant improvements and real estate developments</link:label>
    <link:label id="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid_label_en-US" xlink:label="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:to="lab_us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember_56f80921-35f6-41b4-a571-e54866a631bd_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Personnel Fees</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Reimbursement Of On Site Personnel [Member]</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Reimbursement Of On Site Personnel</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:to="lab_cmct_RelatedPartyTransactionReimbursementOfOnSitePersonnelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_90e6bca3-5c3b-4fff-bdac-22b588b9dd9a_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in Real Estate</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_68a39e41-ad56-4b30-84e8-55177bcfb87e_terseLabel_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:label id="lab_dei_EntityWellKnownSeasonedIssuer_label_en-US" xlink:label="lab_dei_EntityWellKnownSeasonedIssuer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityWellKnownSeasonedIssuer" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityWellKnownSeasonedIssuer" xlink:to="lab_dei_EntityWellKnownSeasonedIssuer" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CCOCapitalLLCMember_71161c51-59a4-4e06-89b5-15f12a126044_terseLabel_en-US" xlink:label="lab_cmct_CCOCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CCO Capital, LLC</link:label>
    <link:label id="lab_cmct_CCOCapitalLLCMember_label_en-US" xlink:label="lab_cmct_CCOCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CCO Capital, LLC [Member]</link:label>
    <link:label id="lab_cmct_CCOCapitalLLCMember_documentation_en-US" xlink:label="lab_cmct_CCOCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CCO Capital, LLC [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CCOCapitalLLCMember" xlink:href="cmct-20211231.xsd#cmct_CCOCapitalLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CCOCapitalLLCMember" xlink:to="lab_cmct_CCOCapitalLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties_6d5cfbf5-8683-460b-acfc-530ac708d188_terseLabel_en-US" xlink:label="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of types of commercial real estate properties</link:label>
    <link:label id="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties_label_en-US" xlink:label="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Types of Commercial Real Estate Properties</link:label>
    <link:label id="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties_documentation_en-US" xlink:label="lab_cmct_NumberOfTypesOfCommercialRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the number of types of commercial real estate properties.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_NumberOfTypesOfCommercialRealEstateProperties" xlink:href="cmct-20211231.xsd#cmct_NumberOfTypesOfCommercialRealEstateProperties"/>
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    <link:label id="lab_cmct_ClassOfWarrantOrRightIssued_05f1c03f-4732-40e2-a955-89933bddc188_terseLabel_en-US" xlink:label="lab_cmct_ClassOfWarrantOrRightIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Warrants issued (in shares)</link:label>
    <link:label id="lab_cmct_ClassOfWarrantOrRightIssued_label_en-US" xlink:label="lab_cmct_ClassOfWarrantOrRightIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class Of Warrant Or Right, Issued</link:label>
    <link:label id="lab_cmct_ClassOfWarrantOrRightIssued_documentation_en-US" xlink:label="lab_cmct_ClassOfWarrantOrRightIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class Of Warrant Or Right, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ClassOfWarrantOrRightIssued" xlink:href="cmct-20211231.xsd#cmct_ClassOfWarrantOrRightIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ClassOfWarrantOrRightIssued" xlink:to="lab_cmct_ClassOfWarrantOrRightIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_e397fc50-7fcc-444c-85e2-e26fb7df9504_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average rate</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
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    <link:label id="lab_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_6c9350db-2287-48ee-93f0-5b5d2f436d98_terseLabel_en-US" xlink:label="lab_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Due to related parties</link:label>
    <link:label id="lab_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Due to Related Parties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent"/>
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    <link:label id="lab_cmct_ScheduleOfCapitalExpendituresAndOriginationsBySegmentTableTextBlock_0a4f9b75-3dd7-4e87-b3a0-5638dd8ea15a_terseLabel_en-US" xlink:label="lab_cmct_ScheduleOfCapitalExpendituresAndOriginationsBySegmentTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Segment Capital Expenditures and Loan Originations</link:label>
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    <link:label id="lab_cmct_PreferredStockRedemptionPriceConsecutiveTradingDaysofWeightedAverageCommonStockPrice_e5c8ba1b-f9b9-4b31-9859-66d56e1191fe_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockRedemptionPriceConsecutiveTradingDaysofWeightedAverageCommonStockPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock redemption, trading days prior to redemption</link:label>
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    <link:label id="lab_cmct_RightsOfferingMember_9abd4ff0-dbef-477c-be3b-35e49d624b98_terseLabel_en-US" xlink:label="lab_cmct_RightsOfferingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights Offering</link:label>
    <link:label id="lab_cmct_RightsOfferingMember_label_en-US" xlink:label="lab_cmct_RightsOfferingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights Offering [Member]</link:label>
    <link:label id="lab_cmct_RightsOfferingMember_documentation_en-US" xlink:label="lab_cmct_RightsOfferingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rights Offering</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareBasic_c95ab97e-85ad-455e-95c8-e166ea8e87e0_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basic (in usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share, Basic</link:label>
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    <link:label id="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath_9e57618f-c3d4-4c99-94d9-d0ef8f26afca_terseLabel_en-US" xlink:label="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Multiplier to annual base salary paid in event of death</link:label>
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    <link:label id="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath_documentation_en-US" xlink:label="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the multiplier used for the calculation of payment to be made in the event of death of employee.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath" xlink:href="cmct-20211231.xsd#cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDeath"/>
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    <link:label id="lab_cmct_SBA7ALoansHeldForSaleMember_a8bba124-b2ea-4dd3-9db1-6665b7718a5a_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loans receivable, held for sale</link:label>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_d20e979c-31b5-4be7-9734-8edb50119903_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Category [Axis]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionLoanCategoryAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_ff4125b6-0b5a-4cb8-a79e-50ad6a8e8d1d_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance, January 1 (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_dbf89d7f-7cb5-48a5-b52f-8ce647f61e79_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance, December 31 (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_04bad388-ca68-4e92-8226-2b7e47cfe831_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2022</link:label>
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    <link:label id="lab_cmct_OperatingLeaseAndOtherPropertyRevenue_c8dd4752-2c29-4fb7-b8a9-cf29f9928c48_terseLabel_en-US" xlink:label="lab_cmct_OperatingLeaseAndOtherPropertyRevenue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rental and other property income</link:label>
    <link:label id="lab_cmct_OperatingLeaseAndOtherPropertyRevenue_label_en-US" xlink:label="lab_cmct_OperatingLeaseAndOtherPropertyRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Lease and Other Property Revenue</link:label>
    <link:label id="lab_cmct_OperatingLeaseAndOtherPropertyRevenue_documentation_en-US" xlink:label="lab_cmct_OperatingLeaseAndOtherPropertyRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue, sublease revenue and revenue from other property income.</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToRelatedParties_793c3abd-4852-4883-9f0b-bf77dec924dc_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Due to related parties</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:to="lab_us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_4c002f96-98df-4acc-aea3-e9bf3f035660_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Measurement [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:to="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CorporateAndReconcilingItemsMember_4a8ded7d-f299-481b-8511-08ac424e6f3b_terseLabel_en-US" xlink:label="lab_cmct_CorporateAndReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Corporate And Reconciling Items</link:label>
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    <link:label id="lab_cmct_CorporateAndReconcilingItemsMember_documentation_en-US" xlink:label="lab_cmct_CorporateAndReconcilingItemsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to corporate-level activity and other items used in reconciling reportable segments' amounts to consolidated amount.</link:label>
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    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_315562f3-5f7b-4424-a973-f6603151550a_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted cash</link:label>
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    <link:label id="lab_cmct_LineOfCreditFacilityAccruedInterestAndUnusedCommitmentFeePayable_documentation_en-US" xlink:label="lab_cmct_LineOfCreditFacilityAccruedInterestAndUnusedCommitmentFeePayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the amount of accrued interest and unused commitment fee payable as of the balance sheet date.</link:label>
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    <link:label id="lab_us-gaap_CashEquivalentsAtCarryingValueAbstract_2151060d-a928-4db6-a27c-cf77192db23e_terseLabel_en-US" xlink:label="lab_us-gaap_CashEquivalentsAtCarryingValueAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:</link:label>
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    <link:label id="lab_cmct_LossContingencyEstimatedRecoveryFromThirdPartyAmount_90fa44cf-8cdf-42c2-97b3-2d364d45e88e_terseLabel_en-US" xlink:label="lab_cmct_LossContingencyEstimatedRecoveryFromThirdPartyAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Refund sought for penalties, interest and legal fees paid for real property transfer tax</link:label>
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    <link:label id="lab_us-gaap_TemporaryEquityParOrStatedValuePerShare_238a2d04-fbcc-486a-abe4-bd580cda69da_terseLabel_en-US" xlink:label="lab_us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, par value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_TemporaryEquityParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_TemporaryEquityParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Temporary Equity, Par or Stated Value Per Share</link:label>
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    <link:label id="lab_us-gaap_LongTermDebt_126ea801-d654-4ebd-b624-45e71f1806bb_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total Debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityListingsExchangeAxis_345df6a7-bdda-4e9e-8857-a3a29c7f39ec_terseLabel_en-US" xlink:label="lab_dei_EntityListingsExchangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Listings, Exchange [Axis]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityListingsExchangeAxis" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityListingsExchangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityListingsExchangeAxis" xlink:to="lab_dei_EntityListingsExchangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilities_355ca158-7303-40b0-b92a-b55ba45743b4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_24f34403-bef7-433b-9913-e7c85c447aa7_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
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    <link:label id="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes_9922de27-5c9f-4721-8e3f-f4b23cc0ee77_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">State income taxes</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxReconciliationStateAndLocalIncomeTaxes"/>
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    <link:label id="lab_dei_EntitySmallBusiness_3bed5202-39b2-4b9e-b9e9-950d7f870a66_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Small Business</link:label>
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    <link:label id="lab_us-gaap_BaseRateMember_f74f9b37-2e35-411f-8cb9-61476b3eb509_terseLabel_en-US" xlink:label="lab_us-gaap_BaseRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Base rate</link:label>
    <link:label id="lab_us-gaap_BaseRateMember_label_en-US" xlink:label="lab_us-gaap_BaseRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Base Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BaseRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BaseRateMember"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PendingLitigationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PendingLitigationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PendingLitigationMember" xlink:to="lab_us-gaap_PendingLitigationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementScenarioAxis_309705ad-9ba4-4d28-bcfe-6931bc33ac4a_terseLabel_en-US" xlink:label="lab_srt_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:label id="lab_srt_StatementScenarioAxis_label_en-US" xlink:label="lab_srt_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementScenarioAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_StatementScenarioAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementScenarioAxis" xlink:to="lab_srt_StatementScenarioAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_HotelMember_a2e50a13-8365-4522-b6be-a3be9dcff21c_terseLabel_en-US" xlink:label="lab_srt_HotelMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hotel</link:label>
    <link:label id="lab_srt_HotelMember_label_en-US" xlink:label="lab_srt_HotelMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hotel [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_HotelMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_HotelMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_HotelMember" xlink:to="lab_srt_HotelMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees_fec703f5-475d-4984-aa27-f398b1d8496f_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset management and other fees to related parties</link:label>
    <link:label id="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees_b7d56d97-5c23-469f-a0a1-e0b57c0bc7a8_negatedLabel_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset management and other fees to related parties</link:label>
    <link:label id="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees_label_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Asset Management Fees and Other Fees</link:label>
    <link:label id="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees_documentation_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The aggregate costs of related party asset management fees and other fees during the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyAssetManagementFeesAndOtherFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:to="lab_cmct_RelatedPartyAssetManagementFeesAndOtherFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_ba78bb4e-533a-424b-a0cd-341bdc48a73e_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional Paid in Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage_cd88c5e1-1338-4f44-82c4-537be976680e_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Quarterly fee percentage</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Asset Management Fees, Percentage</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the percentage of amount of fee revenue for the management of an investment fund portfolio.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionAssetManagementFeesPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:to="lab_cmct_RelatedPartyTransactionAssetManagementFeesPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLoansHeldForSale_03392802-d3ee-4af8-8413-006500aa53d4_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLoansHeldForSale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal collected on loans subject to secured borrowings</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLoansHeldForSale_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLoansHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Collection of Loans Held-for-sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromCollectionOfLoansHeldForSale" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromCollectionOfLoansHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfLoansHeldForSale" xlink:to="lab_us-gaap_ProceedsFromCollectionOfLoansHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DebtInstrumentDuringDeferralPeriodMember_b07dfd49-ed3f-4b28-86b1-b15dac2eced2_terseLabel_en-US" xlink:label="lab_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, During, Deferral Period</link:label>
    <link:label id="lab_cmct_DebtInstrumentDuringDeferralPeriodMember_label_en-US" xlink:label="lab_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, During, Deferral Period [Member]</link:label>
    <link:label id="lab_cmct_DebtInstrumentDuringDeferralPeriodMember_documentation_en-US" xlink:label="lab_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, During, Deferral Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:href="cmct-20211231.xsd#cmct_DebtInstrumentDuringDeferralPeriodMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:to="lab_cmct_DebtInstrumentDuringDeferralPeriodMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_48e4e776-822d-4836-a5cb-41db11439976_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMeasurementInput_cb736688-5e61-4c11-87ef-157cb06c0977_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement input for debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMeasurementInput_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMeasurementInput" xlink:to="lab_us-gaap_LongTermDebtMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeaseTermOfContract_9f5b82b4-8379-4d33-b472-77fa7a90086d_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeaseTermOfContract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating lease term</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeaseTermOfContract_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeaseTermOfContract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Term of Contract</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeaseTermOfContract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeaseTermOfContract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeaseTermOfContract" xlink:to="lab_us-gaap_LessorOperatingLeaseTermOfContract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_a6055513-7d5f-4a50-9383-6fb8a7002075_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_dbd98e10-7389-4b5e-a3f8-d7a401e64ccd_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Maturity, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember_18504579-d6b0-4b28-9160-85805355152f_terseLabel_en-US" xlink:label="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses reimbursements to related parties - lending segment</link:label>
    <link:label id="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember_label_en-US" xlink:label="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses Related to Lending Segment Subject To Reimbursement [Member]</link:label>
    <link:label id="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember_documentation_en-US" xlink:label="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses Related to Lending Segment Subject To Reimbursement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:href="cmct-20211231.xsd#cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:to="lab_cmct_ExpensesRelatedtoLendingSegmentSubjectToReimbursementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_daa433a9-c0ef-4d13-8daf-08cf4cda9aff_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MinimumFixedChargeCoverageRatio_ffdc3c08-e55a-48e1-9f9c-5ad06b061a13_terseLabel_en-US" xlink:label="lab_cmct_MinimumFixedChargeCoverageRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum fixed charge coverage ratio</link:label>
    <link:label id="lab_cmct_MinimumFixedChargeCoverageRatio_label_en-US" xlink:label="lab_cmct_MinimumFixedChargeCoverageRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum Fixed Charge Coverage Ratio</link:label>
    <link:label id="lab_cmct_MinimumFixedChargeCoverageRatio_documentation_en-US" xlink:label="lab_cmct_MinimumFixedChargeCoverageRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum Fixed Charge Coverage Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MinimumFixedChargeCoverageRatio" xlink:href="cmct-20211231.xsd#cmct_MinimumFixedChargeCoverageRatio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MinimumFixedChargeCoverageRatio" xlink:to="lab_cmct_MinimumFixedChargeCoverageRatio" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember_351606af-bf6c-4b54-b911-1f3d56060cca_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loans receivable, Paycheck Protection Program</link:label>
    <link:label id="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember_label_en-US" xlink:label="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(A) Loans, Paycheck Protection Program, CARES Act [Member]</link:label>
    <link:label id="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember_documentation_en-US" xlink:label="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(A) Loans, Paycheck Protection Program, CARES Act</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:href="cmct-20211231.xsd#cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:to="lab_cmct_SBA7ALoansPaycheckProtectionProgramCARESActMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_d0c5bebb-c0fe-4e62-a534-83efdc493003_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Segment Condensed Assets</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of Assets from Segment to Consolidated [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:to="lab_us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PaymentofOtherDeferredCosts_42c1130f-57a6-4f16-aa41-f4bea66d768a_negatedTerseLabel_en-US" xlink:label="lab_cmct_PaymentofOtherDeferredCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of deferred costs</link:label>
    <link:label id="lab_cmct_PaymentofOtherDeferredCosts_label_en-US" xlink:label="lab_cmct_PaymentofOtherDeferredCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of Other Deferred Costs</link:label>
    <link:label id="lab_cmct_PaymentofOtherDeferredCosts_documentation_en-US" xlink:label="lab_cmct_PaymentofOtherDeferredCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of Other Deferred Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PaymentofOtherDeferredCosts" xlink:href="cmct-20211231.xsd#cmct_PaymentofOtherDeferredCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PaymentofOtherDeferredCosts" xlink:to="lab_cmct_PaymentofOtherDeferredCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AffiliatedEntityMember_44d5bcb2-6a10-4f22-8210-3de362c89531_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Affiliated Entity</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AffiliatedEntityMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_AffiliatedEntityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AffiliatedEntityMember" xlink:to="lab_srt_AffiliatedEntityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_24c6f5cd-de6f-470b-abbd-51162768eb7e_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Future Minimum Rental Revenue Under Long-Term Operating Leases</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTextBlock_da742268-40ba-4ea2-8c26-8c4474e3c086_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Issuances, Reclassifications and Redemptions for each class of Preferred Stock in Permanent Equity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Stock by Class [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfStockByClassTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTextBlock" xlink:to="lab_us-gaap_ScheduleOfStockByClassTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetRentableArea_ca466b2d-a408-4fa0-955d-348ae476cf32_terseLabel_en-US" xlink:label="lab_us-gaap_NetRentableArea" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Square Feet</link:label>
    <link:label id="lab_us-gaap_NetRentableArea_3ef1d508-38cf-4efc-873f-8d365065e822_verboseLabel_en-US" xlink:label="lab_us-gaap_NetRentableArea" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Square feet</link:label>
    <link:label id="lab_us-gaap_NetRentableArea_label_en-US" xlink:label="lab_us-gaap_NetRentableArea" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Rentable Area</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetRentableArea" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetRentableArea"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetRentableArea" xlink:to="lab_us-gaap_NetRentableArea" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationSevenPropertyMember_ccd7941b-cb8d-4218-a7fd-d9f142059010_terseLabel_en-US" xlink:label="lab_cmct_LocationSevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">3601 S Congress Avenue Austin, TX</link:label>
    <link:label id="lab_cmct_LocationSevenPropertyMember_label_en-US" xlink:label="lab_cmct_LocationSevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Seven Property [Member]</link:label>
    <link:label id="lab_cmct_LocationSevenPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationSevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location seven.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationSevenPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationSevenPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationSevenPropertyMember" xlink:to="lab_cmct_LocationSevenPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockSharesIssuedDomain_d9cc5dad-27cb-43dd-b18a-b8588daba234_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued [Domain]</link:label>
    <link:label id="lab_cmct_PreferredStockSharesIssuedDomain_label_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued [Domain]</link:label>
    <link:label id="lab_cmct_PreferredStockSharesIssuedDomain_documentation_en-US" xlink:label="lab_cmct_PreferredStockSharesIssuedDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockSharesIssuedDomain" xlink:href="cmct-20211231.xsd#cmct_PreferredStockSharesIssuedDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockSharesIssuedDomain" xlink:to="lab_cmct_PreferredStockSharesIssuedDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_3cdf8a9b-8f0e-40c9-b818-6ceab6f110fc_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_149df3b6-edad-4b99-a668-22e51b6221d1_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redemption of Series A Preferred Stock</link:label>
    <link:label id="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Redeemed or Called During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockRedeemedOrCalledDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:to="lab_us-gaap_StockRedeemedOrCalledDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_23667e25-e7a8-4d41-bc86-3eddf80f3203_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_d3d8fe5a-053c-4c7d-8f87-42a02fc983df_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LineOfCreditFacilityMaximumFeeAmount_4fbd4648-90fd-4a2b-8c0a-52eda9a3df01_terseLabel_en-US" xlink:label="lab_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum fee amount payable</link:label>
    <link:label id="lab_cmct_LineOfCreditFacilityMaximumFeeAmount_label_en-US" xlink:label="lab_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line Of Credit Facility, Maximum Fee Amount</link:label>
    <link:label id="lab_cmct_LineOfCreditFacilityMaximumFeeAmount_documentation_en-US" xlink:label="lab_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line Of Credit Facility, Maximum Fee Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:href="cmct-20211231.xsd#cmct_LineOfCreditFacilityMaximumFeeAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:to="lab_cmct_LineOfCreditFacilityMaximumFeeAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability_359088f7-71ee-445b-a02d-cade4465a172_terseLabel_en-US" xlink:label="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Multiplier to annual base salary paid in event of disability</link:label>
    <link:label id="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability_label_en-US" xlink:label="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Multiplier Used for Calculation of Payment to be Made in Event of Disability</link:label>
    <link:label id="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability_documentation_en-US" xlink:label="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the multiplier used for the calculation of payment to be made in the event of disability to employee.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:href="cmct-20211231.xsd#cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:to="lab_cmct_MultiplierUsedforCalculationofPaymenttobeMadeinEventofDisability" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_A1037NSycamoreLosAngelesCAMember_c8ed4482-671e-4408-bc03-cc094d252ce4_terseLabel_en-US" xlink:label="lab_cmct_A1037NSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 N Sycamore Los Angeles, CA</link:label>
    <link:label id="lab_cmct_A1037NSycamoreLosAngelesCAMember_label_en-US" xlink:label="lab_cmct_A1037NSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 N Sycamore Los Angeles, CA [Member]</link:label>
    <link:label id="lab_cmct_A1037NSycamoreLosAngelesCAMember_documentation_en-US" xlink:label="lab_cmct_A1037NSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 N Sycamore Los Angeles, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_A1037NSycamoreLosAngelesCAMember" xlink:href="cmct-20211231.xsd#cmct_A1037NSycamoreLosAngelesCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_A1037NSycamoreLosAngelesCAMember" xlink:to="lab_cmct_A1037NSycamoreLosAngelesCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost_22e29063-ebc8-45af-ba2f-93e06a1d1dca_totalLabel_en-US" xlink:label="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total capital expenditures and loan originations</link:label>
    <link:label id="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost_label_en-US" xlink:label="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Expenditures And Disposal Group, Originations Cost</link:label>
    <link:label id="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost_documentation_en-US" xlink:label="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the amount of capital expenditures and loan origination cost of assets held for sale incurred during the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:href="cmct-20211231.xsd#cmct_CapitalExpendituresAndDisposalGroupOriginationsCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:to="lab_cmct_CapitalExpendituresAndDisposalGroupOriginationsCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_09caeedf-fd16-41fa-b239-3b2080f7e91f_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_aa62f1ee-7092-4e4f-8936-46cbd6b8e453_negatedLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharesOutstanding_4d7d3e43-7dec-48cc-8db6-02242e8af7b8_periodStartLabel_en-US" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_SharesOutstanding_893be872-f515-4243-aacb-6e0c197e80d2_periodEndLabel_en-US" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_SharesOutstanding_label_en-US" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesOutstanding" xlink:to="lab_us-gaap_SharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive_376f0479-2a28-4965-9608-67619f5df7b1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Amortization Income, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_TenantReimbursementsExcludingLeaseAgreements_4caea57c-6258-4a28-aaf8-a38692fa7985_terseLabel_en-US" xlink:label="lab_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant recoveries outside of lease agreements</link:label>
    <link:label id="lab_cmct_TenantReimbursementsExcludingLeaseAgreements_label_en-US" xlink:label="lab_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant Reimbursements, Excluding Lease Agreements</link:label>
    <link:label id="lab_cmct_TenantReimbursementsExcludingLeaseAgreements_documentation_en-US" xlink:label="lab_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant Reimbursements, Excluding Lease Agreements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:href="cmct-20211231.xsd#cmct_TenantReimbursementsExcludingLeaseAgreements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:to="lab_cmct_TenantReimbursementsExcludingLeaseAgreements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_JuniorSubordinatedDebtMember_a95402e7-4c32-4fc1-81ac-27e8eade28b1_terseLabel_en-US" xlink:label="lab_us-gaap_JuniorSubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Junior subordinated notes</link:label>
    <link:label id="lab_us-gaap_JuniorSubordinatedDebtMember_label_en-US" xlink:label="lab_us-gaap_JuniorSubordinatedDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Junior Subordinated Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_JuniorSubordinatedDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_JuniorSubordinatedDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_JuniorSubordinatedDebtMember" xlink:to="lab_us-gaap_JuniorSubordinatedDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction_e8097acf-c382-41d3-937b-06ec2f6e6857_terseLabel_en-US" xlink:label="lab_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued deferred costs</link:label>
    <link:label id="lab_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction_label_en-US" xlink:label="lab_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction" xlink:to="lab_us-gaap_DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_67ef5e21-af01-41ba-8aae-04d40cc54235_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateAbstract" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateAbstract" xlink:to="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CIMCapitalLLCMember_e2be4715-2cc7-4999-9561-f77f5edc232b_terseLabel_en-US" xlink:label="lab_cmct_CIMCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Capital, LLC</link:label>
    <link:label id="lab_cmct_CIMCapitalLLCMember_label_en-US" xlink:label="lab_cmct_CIMCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Capital, LLC [Member]</link:label>
    <link:label id="lab_cmct_CIMCapitalLLCMember_documentation_en-US" xlink:label="lab_cmct_CIMCapitalLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Capital, LLC [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CIMCapitalLLCMember" xlink:href="cmct-20211231.xsd#cmct_CIMCapitalLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CIMCapitalLLCMember" xlink:to="lab_cmct_CIMCapitalLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_5e7b4b34-13b7-46e8-b924-45e3947528d2_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_0a83f6f0-0c6d-44bf-83a0-794e2403b89a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock, $0.001 par value; 900,000,000 shares authorized; 23,369,331 and 14,827,410 shares issued and outstanding as of December&#160;31, 2021 and December&#160;31, 2020, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_9f094c36-5944-483b-a1f1-fd6cb7d8d645_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MortgageLoanFaceAmountAxis_edfcfa18-0f5d-4b88-b8d1-cccf51e0c848_terseLabel_en-US" xlink:label="lab_cmct_MortgageLoanFaceAmountAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage Loan, Face Amount [Axis]</link:label>
    <link:label id="lab_cmct_MortgageLoanFaceAmountAxis_label_en-US" xlink:label="lab_cmct_MortgageLoanFaceAmountAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage Loan, Face Amount [Axis]</link:label>
    <link:label id="lab_cmct_MortgageLoanFaceAmountAxis_documentation_en-US" xlink:label="lab_cmct_MortgageLoanFaceAmountAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Information by face amounts of mortgage loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MortgageLoanFaceAmountAxis" xlink:href="cmct-20211231.xsd#cmct_MortgageLoanFaceAmountAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MortgageLoanFaceAmountAxis" xlink:to="lab_cmct_MortgageLoanFaceAmountAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockDiscount_d4a9d1e3-8c7e-491c-a50d-a308fa1c3c09_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockDiscount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount on shares issued</link:label>
    <link:label id="lab_cmct_PreferredStockDiscount_label_en-US" xlink:label="lab_cmct_PreferredStockDiscount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Discount</link:label>
    <link:label id="lab_cmct_PreferredStockDiscount_documentation_en-US" xlink:label="lab_cmct_PreferredStockDiscount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Discount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockDiscount" xlink:href="cmct-20211231.xsd#cmct_PreferredStockDiscount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockDiscount" xlink:to="lab_cmct_PreferredStockDiscount" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SBA7ALoansSubjectToCreditRiskMember_b4d2a11e-8af7-4a91-8e8b-9f3e2fcbd446_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loans receivable, subject to credit risk</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToCreditRiskMember_label_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(A) Loans Subject To Credit Risk [Member]</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToCreditRiskMember_documentation_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(A) Loans Subject To Credit Risk [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:href="cmct-20211231.xsd#cmct_SBA7ALoansSubjectToCreditRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:to="lab_cmct_SBA7ALoansSubjectToCreditRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized_64e09c74-46f5-4ce8-97f4-3b1cdf8921ab_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized_label_en-US" xlink:label="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Including Temporary Equity, Shares Authorized</link:label>
    <link:label id="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized_documentation_en-US" xlink:label="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Including Temporary Equity, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:href="cmct-20211231.xsd#cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:to="lab_cmct_PreferredStockIncludingTemporaryEquitySharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_f72f3b55-c028-499c-916f-81a2b6aac228_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Balance, January 1 (in dollars per share)</link:label>
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    <link:label id="lab_cmct_AssetAcquisitionPercentageOfInterestAcquired_eaa03edd-1aa7-449a-948b-2d8d89c09b25_terseLabel_en-US" xlink:label="lab_cmct_AssetAcquisitionPercentageOfInterestAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset acquisition, percentage of voting interests acquired</link:label>
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    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_32c5dd01-d415-4e3e-bd39-aa3f3da710d3_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contributions to noncontrolling interests</link:label>
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    <link:label id="lab_cmct_MortgageLoan4.14PercentDueOn1July2026Member_c9567052-0498-4759-8124-c078ee313e87_terseLabel_en-US" xlink:label="lab_cmct_MortgageLoan4.14PercentDueOn1July2026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage Payable</link:label>
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    <link:label id="lab_cmct_MortgageLoan4.14PercentDueOn1July2026Member_documentation_en-US" xlink:label="lab_cmct_MortgageLoan4.14PercentDueOn1July2026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to nonrecourse mortgage loan with an interest rate of 4.14 percent, due on July 1, 2026.</link:label>
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    <link:label id="lab_dei_LegalEntityAxis_d5888a07-bb3d-4074-89ac-4fe74d45f5c6_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Legal Entity [Axis]</link:label>
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    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_7586d18b-d5d8-4852-813c-fa6b5d28d3af_terseLabel_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Effect of dilutive securities&#8212;contingently issuable shares (in shares)</link:label>
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    <link:label id="lab_us-gaap_StatementClassOfStockAxis_6ce5d7dd-41d8-4aa8-a2a2-09e79c52639d_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementClassOfStockAxis"/>
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    <link:label id="lab_us-gaap_IncomeTaxContingencyLineItems_2f9c6351-cf9d-4b1d-8e48-dac61456a60d_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxContingencyLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Contingency [Line Items]</link:label>
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    <link:label id="lab_us-gaap_NotesPayableOtherPayablesMember_e891652c-ac22-4bdc-a512-db85a03471b5_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableOtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Debt</link:label>
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    <link:label id="lab_us-gaap_NotesPayableOtherPayablesMember_label_en-US" xlink:label="lab_us-gaap_NotesPayableOtherPayablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Notes Payable, Other Payables [Member]</link:label>
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    <link:label id="lab_us-gaap_VariableRateAxis_15041aef-517d-4356-9153-7b42f61719f1_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate [Axis]</link:label>
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    <link:label id="lab_us-gaap_OtherIntangibleAssetsNet_06ebbeef-d972-4878-854f-4d108a5181f5_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other intangible assets, net</link:label>
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    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_58634584-3375-4c7f-8c0a-762bd4e677ca_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEGMENT DISCLOSURE</link:label>
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    <link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_cc8ef6ea-7f3b-43f6-9b4f-4a4efbee21b4_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans Receivable</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_c11aeb01-f1b9-46c1-9e16-66fc3967a452_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_53573d0e-fa13-4088-b8d4-f6d4537b6e00_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
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    <link:label id="lab_dei_DocumentFiscalYearFocus_0f25cabe-bc17-4d40-aa21-25a58fa7d5ba_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Fiscal Year Focus</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentFiscalYearFocus"/>
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    <link:label id="lab_us-gaap_OperatingCostsAndExpenses_af4029c8-5f40-4e94-8c3e-dfc8d095de06_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingCostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingCostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingCostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingCostsAndExpenses" xlink:to="lab_us-gaap_OperatingCostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable_03fc1490-8cae-4b23-8399-64927832106d_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationByPropertyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, by Property [Table]</link:label>
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    <link:label id="lab_us-gaap_VariableRateDomain_08a2f2fc-9212-4a7b-95ee-538cfdaf672d_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable Rate [Domain]</link:label>
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    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_d208e8bd-448f-4b5c-8e48-754e8ba0b42b_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additional Paid-in Capital</link:label>
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    <link:label id="lab_cmct_SBA7ALoansMember_88eb6717-50bc-458a-b0b7-799aaef55bb4_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) Loans</link:label>
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    <link:label id="lab_cmct_SBA7ALoansMember_documentation_en-US" xlink:label="lab_cmct_SBA7ALoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the class of financing receivables related to SBA 7(a) loans.</link:label>
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    <link:label id="lab_us-gaap_RepaymentsOfDebt_d100cfdd-2b69-4962-b8a9-5c201bd2e3b7_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments</link:label>
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    <link:label id="lab_us-gaap_CommonStockDividendsPerShareCashPaid_40b83738-2db6-481a-b9af-d76e9d6ee5d8_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends paid per common share (in usd per share)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="lab_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_06034f2c-6d8d-4a8c-b144-84ae80a1e119_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
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    <link:label id="lab_cmct_FeesPayableAndExpenseReimbursementsMember_b5fbf222-2b39-439a-bf95-a3c32ec516a4_terseLabel_en-US" xlink:label="lab_cmct_FeesPayableAndExpenseReimbursementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property management fees and reimbursements</link:label>
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    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum_fc3bae5b-3d40-4f60-94ff-59b9e592851f_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividend increase per year for failure to timely declare or pay dividends, maximum increase</link:label>
    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum_label_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Temporary Dividend Rate Percentage Increase Upon Failure To Declare Or Pay Dividends, Maximum</link:label>
    <link:label id="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum_documentation_en-US" xlink:label="lab_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Temporary Dividend Rate Percentage Increase Upon Failure To Declare Or Pay Dividends, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum" xlink:href="cmct-20211231.xsd#cmct_PreferredStockTemporaryDividendRatePercentageIncreaseUponFailureToDeclareOrPayDividendsMaximum"/>
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    <link:label id="lab_cmct_LocationTwentySevenPropertyMember_bf4147cb-cd09-4e86-8050-658e3eb02b9d_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentySevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">9460 Wilshire Boulevard Los Angeles, CA</link:label>
    <link:label id="lab_cmct_LocationTwentySevenPropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentySevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twenty Seven Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentySevenPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentySevenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twenty Seven Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentySevenPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentySevenPropertyMember"/>
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    <link:label id="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_81ee6299-0b1b-43b8-8dc9-1212006cdd79_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding common stock available for purchase (in shares)</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_label_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights"/>
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    <link:label id="lab_dei_EntityInformationLineItems_3883c0c8-0ae4-4554-82bc-7eddc5a33e99_terseLabel_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:label id="lab_dei_EntityInformationLineItems_label_en-US" xlink:label="lab_dei_EntityInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInformationLineItems" xlink:to="lab_dei_EntityInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesReceivableNet_3400e1b9-5859-44f3-b53a-38c7ea1cdfc1_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans receivable, net</link:label>
    <link:label id="lab_us-gaap_NotesReceivableNet_56da4010-9f11-47f6-9f53-1047cbaaac55_totalLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans receivable, net</link:label>
    <link:label id="lab_us-gaap_NotesReceivableNet_label_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NotesReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableNet" xlink:to="lab_us-gaap_NotesReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_13299b18-c96a-433a-90b4-b3b1d325295e_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_b6e92c1d-d580-4b4f-a665-e2f46a6c4f02_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other investing activity</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments for (Proceeds from) Other Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_90b34050-b333-4f42-969a-a77545c0408d_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_5ed979e5-6652-435f-90f3-aef23d87d876_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_47148cae-3b97-4d44-953f-c82d6311d0c4_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Building and Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Building and Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_3d4c25f6-cbf9-4568-a7f0-23cfb51c313c_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_label_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyNatureDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LossContingencyNatureDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNatureDomain" xlink:to="lab_us-gaap_LossContingencyNatureDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputPrepaymentRateMember_43b77c9f-50ef-46f6-85b9-8fcdd8bcf294_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputPrepaymentRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Prepayment Rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputPrepaymentRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputPrepaymentRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Input, Prepayment Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputPrepaymentRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MeasurementInputPrepaymentRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputPrepaymentRateMember" xlink:to="lab_us-gaap_MeasurementInputPrepaymentRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_9a5a4f7c-bfa2-4bce-8510-9f12720c5668_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInReceivables_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInReceivables" xlink:to="lab_us-gaap_IncreaseDecreaseInReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateOtherAdditions_fc1966a8-22fb-42ae-b4aa-2cab5fc1704a_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other - deferral of loan origination costs</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateOtherAdditions_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Other Addition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MortgageLoansOnRealEstateOtherAdditions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateOtherAdditions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_d4626a3c-a32e-48cf-b7ea-97860043a30e_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_be4ae9b0-6139-43a8-baca-dfa57515ed04_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom0To500000Member_579c1692-49aa-4b98-903c-faeb96d10892_terseLabel_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom0To500000Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">0 - 500,000</link:label>
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    <link:label id="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract_47c76633-43ce-4d2b-95f4-f9887b9df102_terseLabel_en-US" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Goodwill and Intangible Assets Disclosure [Abstract]</link:label>
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    <link:label id="lab_us-gaap_IntangibleAssetsDisclosureTextBlock_744b54b7-1dda-4545-aada-9bfeb6a5f804_terseLabel_en-US" xlink:label="lab_us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">OTHER INTANGIBLE ASSETS AND LIABILITIES</link:label>
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    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_02ac0f59-08d6-45fa-8bea-723535d16731_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Estimated useful lives</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskCreditRisk_b2a03481-04fd-4f63-9153-4259e5ad7831_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration of Credit Risk</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskCreditRisk" xlink:to="lab_us-gaap_ConcentrationRiskCreditRisk" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Land_bc21bd00-a9a3-4468-add0-e76b9c1aa440_terseLabel_en-US" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_Land_label_en-US" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Land" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Land"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Land" xlink:to="lab_us-gaap_Land" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredCharges_98414b92-c406-4da3-a747-715784c72f11_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredCharges" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred leasing costs</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredCharges_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Deferred Charges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredCharges" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredCharges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeferredCharges" xlink:to="lab_us-gaap_IncreaseDecreaseInDeferredCharges" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_777aaae2-99ba-476e-a400-a3bc33527fbf_verboseLabel_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts receivable, net</link:label>
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_label_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts and Financing Receivable, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsAndNotesReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountsAndNotesReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsAndNotesReceivableNet" xlink:to="lab_us-gaap_AccountsAndNotesReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember_9d2e64ab-83b2-4228-9003-14bc80169e6c_terseLabel_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Upfront Dealer Manager Fee</link:label>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember_label_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Upfront Dealer Manager Fee [Member]</link:label>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember_documentation_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Upfront Dealer Manager Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:href="cmct-20211231.xsd#cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:to="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementUpfrontDealerManagerFeeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock_dba5f8f3-45c0-4276-bb84-1a76c9d85d6e_terseLabel_en-US" xlink:label="lab_cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Reconciliation of Net Income to REIT Taxable Income</link:label>
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    <link:label id="lab_cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock_documentation_en-US" xlink:label="lab_cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tabular disclosure of the reconciliation of the reported amount of net income for the year to the amount of REIT taxable income.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock" xlink:href="cmct-20211231.xsd#cmct_ScheduleOfNetIncomeToTaxableIncomeReconciliationTableTextBlock"/>
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    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerProductAndServiceExtensibleList_47fb958a-9fba-46e1-a981-d938615b3586_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerProductAndServiceExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue from Contract with Customer, Product and Service [Extensible List]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerProductAndServiceExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RevenueFromContractWithCustomerProductAndServiceExtensibleList"/>
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    <link:label id="lab_us-gaap_OperatingSegmentsMember_75bc7b30-49b7-45bd-a61b-ba411d84f68c_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lending Segment</link:label>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_1a80910d-1720-423d-a1d7-d0bc42fb42c4_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Segments</link:label>
    <link:label id="lab_us-gaap_OperatingSegmentsMember_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Segments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingSegmentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingSegmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember" xlink:to="lab_us-gaap_OperatingSegmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_450faf54-535d-49a5-975f-694bec246202_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unused commitment fee</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage"/>
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    <link:label id="lab_cmct_FinancingReceivableMeasurementInput_74952b0f-af63-48aa-b155-c78ef982de67_terseLabel_en-US" xlink:label="lab_cmct_FinancingReceivableMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement input for loans receivable</link:label>
    <link:label id="lab_cmct_FinancingReceivableMeasurementInput_label_en-US" xlink:label="lab_cmct_FinancingReceivableMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Measurement Input</link:label>
    <link:label id="lab_cmct_FinancingReceivableMeasurementInput_documentation_en-US" xlink:label="lab_cmct_FinancingReceivableMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Measurement Input</link:label>
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    <link:label id="lab_cmct_LineOfCreditFacilityFeePercentage_89245572-f867-491a-b50b-d6dcf87e69eb_terseLabel_en-US" xlink:label="lab_cmct_LineOfCreditFacilityFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fee percentage for each advance made</link:label>
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    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_c5bb3016-619e-4c29-a1c4-c5362f605eea_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
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    <link:label id="lab_us-gaap_OperatingLeaseVariableLeaseIncome_3eaeade8-4d91-405d-bebe-52fa36d6d70a_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseVariableLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Variable lease payments</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseVariableLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingLeaseVariableLeaseIncome"/>
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    <link:label id="lab_us-gaap_ShareRepurchaseProgramAxis_056f039b-1990-4608-a29e-41f82dfd0828_terseLabel_en-US" xlink:label="lab_us-gaap_ShareRepurchaseProgramAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share Repurchase Program [Axis]</link:label>
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    <link:label id="lab_us-gaap_IncomeStatementAbstract_ef1f8331-77f1-414e-8003-a961fa2948d1_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Statement [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeStatementAbstract"/>
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    <link:label id="lab_us-gaap_DevelopmentInProcess_a2dadb1a-6d6d-4c5d-85cf-c4eefcb4e785_terseLabel_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Work in progress</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCostsLeasingAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredCostsLeasingAccumulatedAmortization"/>
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    <link:label id="lab_dei_EntityRegistrantName_1d37f117-8df7-4c52-b1ec-dc01dc762c73_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Registrant Name</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_90b5de43-ee4a-4c9b-a278-f8c92e03b2e4_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
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    <link:label id="lab_us-gaap_PreferredStockDividendsPerShareCashPaid_33980c81-b93e-44e6-8224-d68a7ac4d5e9_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred dividends, per share amount (in usd per share)</link:label>
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    <link:label id="lab_us-gaap_RevenueRemainingPerformanceObligation_28f8dde8-3b30-4b73-a99a-ba7cdbf67e7c_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRemainingPerformanceObligation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Performance obligations</link:label>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_1beecc73-760d-4d37-b3b1-2600bb3dd2bc_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LIABILITIES:</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_e8da28da-5c30-4714-8d41-ed1e6c0382c7_negatedLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collections of principal</link:label>
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    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_67c63404-3723-474b-90b4-f38c624b52b2_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparty Name [Domain]</link:label>
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    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_fc8877b8-767a-49c5-99f6-b4104f409e51_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Level 2</link:label>
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    <link:label id="lab_cmct_BaseServiceFeeMember_06a2f09d-8ec6-4473-a054-2e04c0b8547a_terseLabel_en-US" xlink:label="lab_cmct_BaseServiceFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Base service fee</link:label>
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    <link:label id="lab_cmct_BaseServiceFeeMember_documentation_en-US" xlink:label="lab_cmct_BaseServiceFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents base service fees payable for management and administration services.</link:label>
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    <link:label id="lab_dei_AuditorLocation_92444dc0-c314-4b89-9f86-067dce588f3a_terseLabel_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Location</link:label>
    <link:label id="lab_dei_AuditorLocation_label_en-US" xlink:label="lab_dei_AuditorLocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Location</link:label>
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    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfWarrants_943e7c74-d153-4e5f-8fed-50f77168cfac_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfWarrants" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net proceeds from issuance of Series A Preferred Warrants</link:label>
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    <link:label id="lab_us-gaap_SegmentReportingAbstract_709fbf2c-cb59-40a4-bd89-71a754adaa7f_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
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    <link:label id="lab_cmct_FiniteLivedIntangibleLiabilitiesMajorClassNameDomain_8580d1c9-32d9-42d1-933b-5e180a1bd77d_terseLabel_en-US" xlink:label="lab_cmct_FiniteLivedIntangibleLiabilitiesMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite Lived Intangible Liabilities Major Class Name [Domain]</link:label>
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    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_a1dc8f99-79b7-43ac-88c3-9bb7bae1bbdd_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accumulated depreciation</link:label>
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    <link:label id="lab_cmct_RegistrationStatementMember_cc877228-c69e-49be-8e7b-2ffaf25be4af_terseLabel_en-US" xlink:label="lab_cmct_RegistrationStatementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Registration Statement</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedPurchasePremiumDiscount_a427ca73-21e4-4e5f-823c-6facb8f5334c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedPurchasePremiumDiscount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unamortized retained loan discounts</link:label>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateInterestRate_8b40a942-7f7f-4b95-aab8-3acdae08d21e_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest Rate</link:label>
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    <link:label id="lab_dei_DocumentType_f2f55ac8-2b32-4cc6-9114-65f50d774342_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Type</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ReclassificationsOfPermanentEquityToLiabilities" xlink:to="lab_cmct_ReclassificationsOfPermanentEquityToLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6c4b46fb-f4f4-4236-8f21-dc99d03b4358_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net loss (income) attributable to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_2fdb31aa-685a-4288-9106-c7ff5419d4cf_negatedLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net loss (income) attributable to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_bc8478f1-d37c-444a-87fa-0dbee5e905cc_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based compensation plans</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
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    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_a048431b-2eb9-4a51-b054-c05220ff4adc_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revolving Credit Facility</link:label>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_7cf3839c-98ad-441d-9828-848ab1fa4c54_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis"/>
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    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_e66fc549-9b91-4f9c-83cc-f73cfa0b9eee_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gain on sale of real estate (Note 3)</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_53b21720-b5f3-4c11-a38b-e5dc466d8038_verboseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gain on sale of real estate</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gains (Losses) on Sales of Investment Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_GainsLossesOnSalesOfInvestmentRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:to="lab_us-gaap_GainsLossesOnSalesOfInvestmentRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_d4bc104c-2c69-4fb8-b0d2-71b7579cd5b8_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementGeographicalAxis_00a3aaa3-122b-4518-88e0-496d077ac7f7_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_StatementGeographicalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges_e02d07d9-9a47-4898-b454-f1516a1252b6_terseLabel_en-US" xlink:label="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassification to deferred rent receivable and charges</link:label>
    <link:label id="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges_label_en-US" xlink:label="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncash Reclassification From Deferred Rent Receivable And Charges</link:label>
    <link:label id="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges_documentation_en-US" xlink:label="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncash Reclassification From Deferred Rent Receivable And Charges</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:href="cmct-20211231.xsd#cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:to="lab_cmct_NoncashReclassificationFromDeferredRentReceivableAndCharges" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_19f38062-3d3e-4acc-9e22-610d5f25c315_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase price (in usd per share)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockPricePerShare_label_en-US" xlink:label="lab_us-gaap_SaleOfStockPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of Stock, Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SaleOfStockPricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockPricePerShare" xlink:to="lab_us-gaap_SaleOfStockPricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_58f022a5-9a0b-453b-9ca8-110fbb3b454b_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset sales</link:label>
    <link:label id="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold_label_en-US" xlink:label="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Investment in Real Estate Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAccumulatedDepreciationRealEstateSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:to="lab_us-gaap_RealEstateAccumulatedDepreciationRealEstateSold" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_64979c7a-23ff-45f6-9ec2-24869602a1f9_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal amount of loans subject to delinquent principal or "interest"</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Principal Amount of Delinquent Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstatePrincipalAmountOfDelinquentLoans"/>
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    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_e6815d98-54d3-4305-8dea-3cf661ac3db7_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net assets acquired</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets"/>
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    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_f31d5c59-734e-42e2-b0cf-9638d26704a4_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SUBSEQUENT EVENTS</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated_8b2108a6-175d-497d-b25c-2cfef98104d4_negatedTerseLabel_en-US" xlink:label="lab_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock dividends declared or accumulated (Note 9)</link:label>
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    <link:label id="lab_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated_documentation_en-US" xlink:label="lab_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable Preferred Stock Dividends, Declared And Accumulated</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated" xlink:href="cmct-20211231.xsd#cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated" xlink:to="lab_cmct_RedeemablePreferredStockDividendsDeclaredAndAccumulated" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_5e326e10-172f-45f7-ad76-36c0707f8f11_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_54124763-ea54-45a3-bbe0-4974a7f96d9a_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING:</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_335ece57-0d1f-48ab-ada5-1ef21d007dc2_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_ba8b7e32-3042-4660-9e19-1b88c908bc8b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Award vesting period</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract_7136c773-06b1-4631-926a-e663ab2bb306_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax assets:</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract" xlink:to="lab_us-gaap_DeferredTaxAssetsNetOfValuationAllowanceAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DebtRollForward_9852b319-b61b-4eed-9964-82b0c00b96c0_terseLabel_en-US" xlink:label="lab_cmct_DebtRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt [Roll Forward]</link:label>
    <link:label id="lab_cmct_DebtRollForward_label_en-US" xlink:label="lab_cmct_DebtRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt [Roll Forward]</link:label>
    <link:label id="lab_cmct_DebtRollForward_documentation_en-US" xlink:label="lab_cmct_DebtRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DebtRollForward" xlink:href="cmct-20211231.xsd#cmct_DebtRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DebtRollForward" xlink:to="lab_cmct_DebtRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_b5dad413-065b-4953-904b-f856e91c0190_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_64ce6115-3848-4e78-8a75-eb66b045bfe2_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember_72221b46-b6dd-4f90-a9f9-55412357b6bf_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loans receivable, subject to secured borrowings</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember_label_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">S B A7 A Loans Subject To Secured Borrowings [Member]</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember_documentation_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the class of financing receivables related to SBA 7(a) loans, subject to secured borrowings.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:href="cmct-20211231.xsd#cmct_SBA7ALoansSubjectToSecuredBorrowingsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:to="lab_cmct_SBA7ALoansSubjectToSecuredBorrowingsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_e41548f5-2d5a-4916-bf72-1786cde75dba_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2024</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CommitmentAndContingenciesLineItems_dc469857-a2de-43a5-ab79-1c3ecbd5c561_terseLabel_en-US" xlink:label="lab_cmct_CommitmentAndContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment and Contingencies [Line Items]</link:label>
    <link:label id="lab_cmct_CommitmentAndContingenciesLineItems_label_en-US" xlink:label="lab_cmct_CommitmentAndContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment and Contingencies [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CommitmentAndContingenciesLineItems" xlink:href="cmct-20211231.xsd#cmct_CommitmentAndContingenciesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CommitmentAndContingenciesLineItems" xlink:to="lab_cmct_CommitmentAndContingenciesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BusinessCombinationsPolicy_69421b1e-83d9-453c-bc40-56a85ec1ed13_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Purchase Accounting for Acquisition of Investments in Real Estate</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationsPolicy_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combinations Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationsPolicy" xlink:to="lab_us-gaap_BusinessCombinationsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_fd538170-649a-44d9-b613-2aaf1cb09d05_terseLabel_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accumulated Depreciation</link:label>
    <link:label id="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward_label_en-US" xlink:label="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:to="lab_us-gaap_ReconciliationOfRealEstateAccumulatedDepreciationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_ec90b33b-10d7-4168-8c6c-e663c49290a0_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrual of dividends payable to common stockholders</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FiniteLivedIntangibleLiabilitiesAbstract_6f526144-5813-4a07-a276-a4b9d4eaee1d_terseLabel_en-US" xlink:label="lab_cmct_FiniteLivedIntangibleLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible lease liabilities:</link:label>
    <link:label id="lab_cmct_FiniteLivedIntangibleLiabilitiesAbstract_label_en-US" xlink:label="lab_cmct_FiniteLivedIntangibleLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite Lived Intangible Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FiniteLivedIntangibleLiabilitiesAbstract" xlink:href="cmct-20211231.xsd#cmct_FiniteLivedIntangibleLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FiniteLivedIntangibleLiabilitiesAbstract" xlink:to="lab_cmct_FiniteLivedIntangibleLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_TenantImprovementsMember_62f194c7-450a-420b-9dca-b472e9891bd6_terseLabel_en-US" xlink:label="lab_cmct_TenantImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant improvements</link:label>
    <link:label id="lab_cmct_TenantImprovementsMember_label_en-US" xlink:label="lab_cmct_TenantImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant Improvements [Member]</link:label>
    <link:label id="lab_cmct_TenantImprovementsMember_documentation_en-US" xlink:label="lab_cmct_TenantImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Improvements having a life longer than one year that were made for the benefit of one or more tenants.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_TenantImprovementsMember" xlink:href="cmct-20211231.xsd#cmct_TenantImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_TenantImprovementsMember" xlink:to="lab_cmct_TenantImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenuesAbstract_3daebbec-5778-403f-81f9-325203ef2754_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">REVENUES:</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenuesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RevenuesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract" xlink:to="lab_us-gaap_RevenuesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_ee4bb200-e2cb-4d59-bc38-2a003a28ff3f_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AmortizationAndAccretionOnLoansReceivableNet_7adbaeda-c479-44b3-ba05-863298d6459a_negatedLabel_en-US" xlink:label="lab_cmct_AmortizationAndAccretionOnLoansReceivableNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization of deferred costs and accretion of fees on loans receivable, net</link:label>
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    <link:label id="lab_cmct_AmortizationAndAccretionOnLoansReceivableNet_documentation_en-US" xlink:label="lab_cmct_AmortizationAndAccretionOnLoansReceivableNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of noncash income included in interest income to amortize the discount associated with the related loans receivable.</link:label>
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    <link:label id="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_53d4108f-9c9a-468b-b8e7-34f57844c13e_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Authorized shares for repurchase (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Repurchase Program, Number of Shares Authorized to be Repurchased</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:to="lab_us-gaap_StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_73f41eb6-e8ea-4b60-a905-03793bc07dac_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts_2ee5c21f-2670-4fce-9260-b6e8df0f6649_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Offering costs</link:label>
    <link:label id="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts_label_en-US" xlink:label="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Issuance Specific Offering Costs</link:label>
    <link:label id="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts_documentation_en-US" xlink:label="lab_cmct_PreferredStockIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Issuance Specific Offering Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockIssuanceSpecificOfferingCosts" xlink:href="cmct-20211231.xsd#cmct_PreferredStockIssuanceSpecificOfferingCosts"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_e80424ac-8918-4704-98c3-993ee87cf9e2_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CASH FLOWS FROM INVESTING ACTIVITIES:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_dd0a486f-853a-44e2-a780-e6015378e09b_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Estimated Useful Lives of Real Estate Investment Assets</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_cfb8e805-edda-4cf5-acad-f06801e04643_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in real estate, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_eaf6b283-bab1-474d-ac2a-9381a9300ca3_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net investments in real estate</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStockCash_d207b2ec-c7fb-4358-84c0-e8ff04597e8e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends to holders of Series Preferred Stock</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStockCash_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStockCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends, Preferred Stock, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStockCash" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsPreferredStockCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStockCash" xlink:to="lab_us-gaap_DividendsPreferredStockCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_0820ed9f-1350-4f7a-9e71-cdcecfb4ab15_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfOtherLongTermDebt_5662a4ea-c518-439c-98c4-fd4d1b662420_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of unsecured revolving lines of credit, revolving credit facilities, mortgages payable, term notes and principal on SBA 7(a) loan-backed notes</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfOtherLongTermDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfOtherLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Repayments of Other Long-term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfOtherLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RepaymentsOfOtherLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfOtherLongTermDebt" xlink:to="lab_us-gaap_RepaymentsOfOtherLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CIMGroupMember_64d67563-a45a-443c-affd-18c609cc19c1_terseLabel_en-US" xlink:label="lab_cmct_CIMGroupMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Group</link:label>
    <link:label id="lab_cmct_CIMGroupMember_label_en-US" xlink:label="lab_cmct_CIMGroupMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Group [Member]</link:label>
    <link:label id="lab_cmct_CIMGroupMember_documentation_en-US" xlink:label="lab_cmct_CIMGroupMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CIM Group [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CIMGroupMember" xlink:href="cmct-20211231.xsd#cmct_CIMGroupMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CIMGroupMember" xlink:to="lab_cmct_CIMGroupMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable_bf86d88a-6c12-4ef3-9f3a-3ce0e6b72deb_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Allowance for uncollectible accounts receivable</link:label>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="lab_us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Revenues_f22aadd4-050f-4741-a855-222f6bb0f4c5_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total Revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_f3b3361c-7238-43aa-b302-e28a7c9cf999_terseLabel_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_label_en-US" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Revenues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements_cadf054b-6312-4252-9bdc-545ec31c7983_terseLabel_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Retirements</link:label>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements_label_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule III, Real Estate Accumulated Depreciation, Retirements</link:label>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements_documentation_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of decrease to accumulated depreciation for real estate investments retirements for entities with a substantial portion of business acquiring and holding investment real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:href="cmct-20211231.xsd#cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:to="lab_cmct_SecScheduleIiiRealEstateAccumulatedDepreciationRetirements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCostsLeasingNet_8b3ec5c9-0b1d-4fea-8b14-fcd449ea282e_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred leasing costs, net of accumulated amortization of $8,971 and $7,742, respectively</link:label>
    <link:label id="lab_us-gaap_DeferredCostsLeasingNet_label_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Costs, Leasing, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCostsLeasingNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredCostsLeasingNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsLeasingNet" xlink:to="lab_us-gaap_DeferredCostsLeasingNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockRedemptionPremium_da474ea7-4779-4fc8-a233-4343d8088b22_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPremium" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock redemptions (Note 9)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockRedemptionPremium" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockRedemptionPremium"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockRedemptionPremium" xlink:to="lab_us-gaap_PreferredStockRedemptionPremium" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateFederalIncomeTaxBasis_7ae6c7a1-8f7c-4a71-b2e3-371b40abf272_terseLabel_en-US" xlink:label="lab_srt_RealEstateFederalIncomeTaxBasis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal tax cost basis (unaudited)</link:label>
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    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_165a29d3-2b5e-4fbd-9a3b-523949fa6ce0_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Future accretion of acquisition related intangible liabilities</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]</link:label>
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    <link:label id="lab_us-gaap_AssetAcquisitionDomain_56f7548c-17c7-44fd-a420-7e3f0ac9b220_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionDomain" xlink:to="lab_us-gaap_AssetAcquisitionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAcquisitions_5f677b5e-1940-4f51-a9a5-b7c249c9d758_terseLabel_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property acquisitions</link:label>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAcquisitions_label_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule III, Real Estate, Acquisitions</link:label>
    <link:label id="lab_cmct_SecScheduleIiiRealEstateAcquisitions_documentation_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAcquisitions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of increase in real estate investments from acquisitions for entities with a substantial portion of business acquiring and holding investment real estate.</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_272d96af-f8b8-4723-8d1d-b716e0e1e396_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
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    <link:label id="lab_us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale_9cf1a17f-21c4-403e-8239-f2be3a1d5729_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForOriginationAndPurchasesOfLoansHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans funded, held for sale to secondary market</link:label>
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    <link:label id="lab_dei_EntityCurrentReportingStatus_cf7e7d08-0cdf-4ab5-81c2-16b36cfbf2c2_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Current Reporting Status</link:label>
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    <link:label id="lab_cmct_BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease_162324bd-62f8-4428-ba63-85912b686259_negatedTerseLabel_en-US" xlink:label="lab_cmct_BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired below-market leases</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_cmct_BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease" xlink:href="cmct-20211231.xsd#cmct_BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedBelowMarketLease"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_46a53c92-b692-4d67-bbf6-b8238e84669a_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Grant Date Fair Value Per Share</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward"/>
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    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_67e09096-1862-4586-a210-d343891fa18d_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesAPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesAPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Stock [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesAPreferredStockMember" xlink:to="lab_us-gaap_SeriesAPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_7b12ccb5-df61-4438-b31c-f77b68cb0695_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amortization of deferred loan costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_0daf0863-d938-408e-886d-8b477c3feda9_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accretion &amp; (Amortization)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_c4b01573-e565-41cd-8751-709cf5264799_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to investments in real estate</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets"/>
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    <link:label id="lab_srt_CounterpartyNameAxis_67b5006f-aa5f-4285-9145-401d5133bd99_terseLabel_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:label id="lab_srt_CounterpartyNameAxis_label_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CounterpartyNameAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_CounterpartyNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CounterpartyNameAxis" xlink:to="lab_srt_CounterpartyNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightAxis_e40383d4-1179-4a98-88c5-b571df508b94_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right [Axis]</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightAxis_label_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfWarrantOrRightAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfWarrantOrRightAxis"/>
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    <link:label id="lab_cmct_PMCCommercialTrustMember_dfcb7ca9-28d8-4bc3-84a4-e8778e96ec44_terseLabel_en-US" xlink:label="lab_cmct_PMCCommercialTrustMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">PMC Commercial</link:label>
    <link:label id="lab_cmct_PMCCommercialTrustMember_label_en-US" xlink:label="lab_cmct_PMCCommercialTrustMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">P M C Commercial Trust [Member]</link:label>
    <link:label id="lab_cmct_PMCCommercialTrustMember_documentation_en-US" xlink:label="lab_cmct_PMCCommercialTrustMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to PMC Commercial Trust.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PMCCommercialTrustMember" xlink:href="cmct-20211231.xsd#cmct_PMCCommercialTrustMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PMCCommercialTrustMember" xlink:to="lab_cmct_PMCCommercialTrustMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_dcce7bff-2c4e-420c-b490-a799ec6bba5f_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discount Rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Input, Discount Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MeasurementInputDiscountRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:to="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationTwentythreePropertyMember_5b6433c2-4315-46e6-9c48-c3f5598f9ef9_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentythreePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lindblade Media Center Los Angeles, CA</link:label>
    <link:label id="lab_cmct_LocationTwentythreePropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentythreePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twentythree Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentythreePropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentythreePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location twenty-three.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentythreePropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentythreePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationTwentythreePropertyMember" xlink:to="lab_cmct_LocationTwentythreePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAbstract_label_en-US" xlink:label="lab_us-gaap_LeasesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leases [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LeasesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAbstract" xlink:to="lab_us-gaap_LeasesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_b726a31b-8fe9-4f50-ae9c-8eb30a437164_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_5e778a6a-03b3-4f2f-904e-2b75fa325f0a_terseLabel_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">LIBOR</link:label>
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_label_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="lab_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CapitalExpenditures_e7a1926e-24bc-424e-97aa-8b7915e8c9d2_terseLabel_en-US" xlink:label="lab_cmct_CapitalExpenditures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total capital expenditures</link:label>
    <link:label id="lab_cmct_CapitalExpenditures_label_en-US" xlink:label="lab_cmct_CapitalExpenditures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Expenditures</link:label>
    <link:label id="lab_cmct_CapitalExpenditures_documentation_en-US" xlink:label="lab_cmct_CapitalExpenditures" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the expenditures made during the period for additions and improvements to real estate investments, excluding acquisitions.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CapitalExpenditures" xlink:href="cmct-20211231.xsd#cmct_CapitalExpenditures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CapitalExpenditures" xlink:to="lab_cmct_CapitalExpenditures" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_0fa028c0-17de-409d-ba81-3339d58a7968_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_56ec3f3c-bc35-4fd2-a6f0-10aa7f903d1d_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Revenue from Contract with Customer [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_3d8d78e8-328a-4f0a-a2c4-6da001e49596_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_1c437e47-f1ae-4c1d-9bb6-5b3471f1743a_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Diluted weighted average shares and common stock equivalents outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_68064ac5-5c55-4b35-b498-b1b3c3fac713_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">INCOME TAXES</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_6e6a59b9-3c53-4b90-91a6-b1775de0ceae_verboseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible liabilities, net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_ee770eaa-5c2a-4c98-a547-e7cc714288bf_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired below-market leases, net of accumulated amortization of $1,134 and $1,786, respectively, with an average useful life of 5 and 4 years, respectively</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_13d3a8f4-73e0-4058-a8ea-a05c7f99d28c_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible lease liabilities, net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_9589a572-fa17-4a76-a610-07da62000a5d_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_8c53a17a-e6c0-42c9-a8db-5c2d26fc7d71_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_94f8bc65-107f-404d-9bec-0b21e2990595_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest rate margin</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_0de369ee-3bea-4ad6-a807-cc59a737dd91_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired below-market leases, accumulated amortization</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:to="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CapitalGainFeeMember_5a1c0401-dd04-4efa-b804-6595e5cd3041_terseLabel_en-US" xlink:label="lab_cmct_CapitalGainFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Gain Fee</link:label>
    <link:label id="lab_cmct_CapitalGainFeeMember_label_en-US" xlink:label="lab_cmct_CapitalGainFeeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Gain Fee [Member]</link:label>
    <link:label id="lab_cmct_CapitalGainFeeMember_documentation_en-US" xlink:label="lab_cmct_CapitalGainFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Capital Gain Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_CapitalGainFeeMember" xlink:href="cmct-20211231.xsd#cmct_CapitalGainFeeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_CapitalGainFeeMember" xlink:to="lab_cmct_CapitalGainFeeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_2f5cd440-2a0e-47b1-86e5-327794fa2ee0_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure"/>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_f0963352-a55b-4e22-8825-cc6aa085c012_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Name of Property [Axis]</link:label>
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    <link:label id="lab_us-gaap_ClassOfStockLineItems_78d5a680-a518-4725-a8c7-5d4e751e5b4e_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Line Items]</link:label>
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    <link:label id="lab_us-gaap_CreditFacilityAxis_e517a912-b7eb-427c-9dce-88df150a3904_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Credit Facility [Axis]</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_2f2f30e5-256a-4c65-b393-399dc8dd739d_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
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    <link:label id="lab_dei_EntityAddressAddressLine1_f0daed9d-2dab-44be-ba34-bb93f51c2da6_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line One</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine1"/>
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    <link:label id="lab_us-gaap_AreaOfLand_4442319f-31d1-4aa0-afcf-3e97a3dd9f01_terseLabel_en-US" xlink:label="lab_us-gaap_AreaOfLand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Area of land</link:label>
    <link:label id="lab_us-gaap_AreaOfLand_label_en-US" xlink:label="lab_us-gaap_AreaOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Area of Land</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AreaOfLand" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AreaOfLand"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AreaOfLand" xlink:to="lab_us-gaap_AreaOfLand" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_dd3d1ece-37a3-44f0-b4de-bea4b777d294_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, Address Line Two</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts_59f003e2-66dd-4b68-bb54-8ead91706ce5_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loan Loss Reserves</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts"/>
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    <link:label id="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_7e4ca341-ab14-4194-9e8a-4543663192b3_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Deferred Rent Receivables and Charges, Net</link:label>
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    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_2baac604-794f-4fdb-a179-7a2b1e9bbdbc_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principles of Consolidation</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_014b5db3-11ad-4458-a71b-4ca4f32e4aa9_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Shell Company</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_fffaba38-23b7-46a3-806f-8e8c4baeddc0_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Amortization Income, Year Four</link:label>
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    <link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_32a031fc-b3cf-40e1-9b12-5c0584d0a59b_terseLabel_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Rental and other property operating</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:to="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_CIMManagementEntitiesAndRelatedPartiesMember_8bada1a8-1b45-4014-a03b-8a24daa9b326_terseLabel_en-US" xlink:label="lab_cmct_CIMManagementEntitiesAndRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">C I M Management Entities and Related Parties</link:label>
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    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementTrailingDealerManagerFeeDailyAccruingRateOfAnnualRateMember_182bf0bb-8465-4f05-93c4-2ad21582038d_terseLabel_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementTrailingDealerManagerFeeDailyAccruingRateOfAnnualRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Trailing Dealer Manager Fee, Daily Accruing Rate Of Annual Rate</link:label>
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    <link:label id="lab_us-gaap_LitigationStatusDomain_f5aa4318-6239-4d88-9fe1-824942473243_terseLabel_en-US" xlink:label="lab_us-gaap_LitigationStatusDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Litigation Status [Domain]</link:label>
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    <link:label id="lab_us-gaap_NotesReceivableGross_69900be0-d64b-4667-bad0-b5bb7d704c8e_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans receivable</link:label>
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    <link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_0986b71c-c768-4f25-8dbd-abe898aef8b3_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">INVESTMENTS IN REAL ESTATE</link:label>
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    <link:label id="lab_cmct_FiniteLivedIntangibleLiabilitiesByMajorClassAxis_d3603728-db17-436f-9021-4c0fe8d621d1_terseLabel_en-US" xlink:label="lab_cmct_FiniteLivedIntangibleLiabilitiesByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite Lived Intangible Liabilities by Major Class [Axis]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FiniteLivedIntangibleLiabilitiesByMajorClassAxis" xlink:to="lab_cmct_FiniteLivedIntangibleLiabilitiesByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventMember_b65bd364-1c4c-45f2-960d-66ec08fb167e_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_92d0f455-6634-4642-a46a-243c6b4b1e3c_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible lease assets, net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_45ffe658-0f79-4d35-89d0-51be12b163ba_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible lease assets, net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_6298598b-d38e-4c57-a71a-c234c121790a_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember_7f9c6fa3-ab63-4891-9d78-e1238b4903ad_terseLabel_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Selling Commissions Payable</link:label>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember_label_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Selling Commissions Payable [Member]</link:label>
    <link:label id="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember_documentation_en-US" xlink:label="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Second Amended And Restated Dealer Manager Agreement, Selling Commissions Payable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:href="cmct-20211231.xsd#cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:to="lab_cmct_SecondAmendedAndRestatedDealerManagerAgreementSellingCommissionsPayableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive_eff3aaa3-0c18-4980-876b-302a8eace690_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeAfterYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_daf1a9dd-53d9-490e-a4f7-0e5b9b766d2a_terseLabel_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:label id="lab_srt_ScenarioUnspecifiedDomain_label_en-US" xlink:label="lab_srt_ScenarioUnspecifiedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Scenario [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScenarioUnspecifiedDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ScenarioUnspecifiedDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioUnspecifiedDomain" xlink:to="lab_srt_ScenarioUnspecifiedDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_de79097c-6d28-41f7-b283-f3bd2c0dc8fa_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_d8eee1d7-4375-491c-a09d-55ae02b5baa8_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity_ab1026e8-40f1-4083-873d-478365213e2c_terseLabel_en-US" xlink:label="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock offering costs offset against redeemable preferred stock</link:label>
    <link:label id="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity_label_en-US" xlink:label="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Offering Costs Offset Against Redeemable Preferred Stock, Temporary Equity</link:label>
    <link:label id="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity_documentation_en-US" xlink:label="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Offering Costs Offset Against Redeemable Preferred Stock, Temporary Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:href="cmct-20211231.xsd#cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:to="lab_cmct_OfferingCostsOffsetAgainstRedeemablePreferredStockTemporaryEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member_4a8a2e7c-9abf-4e70-9950-793c62513084_terseLabel_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">500,000 - 1,000,000</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member_label_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Of Investment Range From500000 To1000000 [Member]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member_documentation_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the range of daily average gross fair value of investments between 500,000 to 1,000,000.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:href="cmct-20211231.xsd#cmct_FairValueOfInvestmentRangeFrom500000To1000000Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:to="lab_cmct_FairValueOfInvestmentRangeFrom500000To1000000Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_56b8782d-13d5-404d-84f7-30bf8eb5a560_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">RELATED-PARTY TRANSACTIONS</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MasterServicesAgreementMember_caf443b4-a4c7-424e-8d89-441aed4331c8_terseLabel_en-US" xlink:label="lab_cmct_MasterServicesAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementMember_label_en-US" xlink:label="lab_cmct_MasterServicesAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement [Member]</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementMember_documentation_en-US" xlink:label="lab_cmct_MasterServicesAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to the Master Services Agreement.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MasterServicesAgreementMember" xlink:href="cmct-20211231.xsd#cmct_MasterServicesAgreementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MasterServicesAgreementMember" xlink:to="lab_cmct_MasterServicesAgreementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_GeneralReservesMember_6277e59d-5fb3-4e7d-957a-7efc3d4e534c_terseLabel_en-US" xlink:label="lab_cmct_GeneralReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General reserves</link:label>
    <link:label id="lab_cmct_GeneralReservesMember_label_en-US" xlink:label="lab_cmct_GeneralReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General Reserves [Member]</link:label>
    <link:label id="lab_cmct_GeneralReservesMember_documentation_en-US" xlink:label="lab_cmct_GeneralReservesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">General Reserves [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_GeneralReservesMember" xlink:href="cmct-20211231.xsd#cmct_GeneralReservesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_GeneralReservesMember" xlink:to="lab_cmct_GeneralReservesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ExecutiveOfficerMember_c68486df-9fd8-4534-8653-3f63e1ad4f9a_terseLabel_en-US" xlink:label="lab_srt_ExecutiveOfficerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Executive officers</link:label>
    <link:label id="lab_srt_ExecutiveOfficerMember_label_en-US" xlink:label="lab_srt_ExecutiveOfficerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Executive Officer [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ExecutiveOfficerMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ExecutiveOfficerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ExecutiveOfficerMember" xlink:to="lab_srt_ExecutiveOfficerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_3e471c99-148d-49bb-b51e-bd90d0c81d8e_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred income taxes</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_51f58945-35f4-49c3-b7e5-a7f96022ee65_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets:</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract"/>
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    <link:label id="lab_us-gaap_AssetAcquisitionAxis_04c80ad2-10c7-41b6-a944-011b6c7361e5_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AssetAcquisitionAxis"/>
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    <link:label id="lab_cmct_NonIssuanceSpecificOfferingCostsMember_a56a9391-f7fb-4caf-bc4c-4927457d533c_terseLabel_en-US" xlink:label="lab_cmct_NonIssuanceSpecificOfferingCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Non-issuance specific offering costs</link:label>
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    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_1f377aef-ef25-428f-86aa-cc566a8e1aa1_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings per Share ("EPS")</link:label>
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    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_c9720492-433f-4cc5-977a-1397b398166e_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
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    <link:label id="lab_us-gaap_SecuredBorrowingsGrossDifferenceAmount_7f713d20-4d96-445e-9183-23428b5135a8_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredBorrowingsGrossDifferenceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Excess spread</link:label>
    <link:label id="lab_us-gaap_SecuredBorrowingsGrossDifferenceAmount_label_en-US" xlink:label="lab_us-gaap_SecuredBorrowingsGrossDifferenceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured Borrowings, Gross, Difference, Amount</link:label>
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    <link:label id="lab_us-gaap_NetIncomeLoss_ec4c543c-bc84-4032-b305-909bcd71d02c_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">NET (LOSS) INCOME ATTRIBUTABLE TO THE COMPANY</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_205413a8-9616-4f8e-84eb-4d5a4fd5044d_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New loans</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, New Mortgage Loan</link:label>
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    <link:label id="lab_srt_RetailSiteMember_99b3ccdc-7ed4-4c38-ac2e-f6feb5d84443_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Retail Site</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_srt_RetailSiteMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RetailSiteMember"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6a206273-51cd-4b91-906a-137820a51bd6_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible lease assets, accumulated amortization</link:label>
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    <link:label id="lab_srt_RangeMember_949ea899-a54d-4d4b-964e-579206478a0d_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RangeMember"/>
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    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_e448a5a8-f473-4d5d-afb5-d5fb69d77f03_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Future Principal Payments on Debt</link:label>
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    <link:label id="lab_cmct_DeferredRentReceivableAndChargesNet_eb967ccf-0849-4d09-acf1-fc80b7b19777_verboseLabel_en-US" xlink:label="lab_cmct_DeferredRentReceivableAndChargesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred rent receivable and charges, net</link:label>
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    <link:label id="lab_cmct_DeferredRentReceivableAndChargesNet_documentation_en-US" xlink:label="lab_cmct_DeferredRentReceivableAndChargesNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the carrying amount as of the balance sheet of deferred rent receivable, deferred finance costs, and deferred leasing costs, net of accumulated amortization.</link:label>
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    <link:label id="lab_cmct_MortgageLoansOnRealEstateOtherBadDebtExpenseNetOfRecoveries_918a7e51-825e-4ec0-8c20-1cf55dcf4193_negatedLabel_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateOtherBadDebtExpenseNetOfRecoveries" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other - bad debt expense</link:label>
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    <link:label id="lab_cmct_MortgageLoansOnRealEstateOtherBadDebtExpenseNetOfRecoveries_documentation_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateOtherBadDebtExpenseNetOfRecoveries" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage loans on real estate bad expense net of recoveries.</link:label>
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    <link:label id="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock_e9d7184c-db38-4fb0-860a-27ee3eccb486_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment Information</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DebtInstrumentExtensionFeePercentage_45d60034-2d91-43b4-9e08-ff9b0708463f_terseLabel_en-US" xlink:label="lab_cmct_DebtInstrumentExtensionFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Extension fee percentage</link:label>
    <link:label id="lab_cmct_DebtInstrumentExtensionFeePercentage_label_en-US" xlink:label="lab_cmct_DebtInstrumentExtensionFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Extension Fee, Percentage</link:label>
    <link:label id="lab_cmct_DebtInstrumentExtensionFeePercentage_documentation_en-US" xlink:label="lab_cmct_DebtInstrumentExtensionFeePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Extension Fee, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DebtInstrumentExtensionFeePercentage" xlink:href="cmct-20211231.xsd#cmct_DebtInstrumentExtensionFeePercentage"/>
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    <link:label id="lab_dei_EntityIncorporationStateCountryCode_845db16a-9ef0-4cfb-b7f3-1f9560f5cbd2_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
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    <link:label id="lab_us-gaap_AssetsAbstract_ae466059-5f75-434f-b7ac-55d0db844757_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">ASSETS</link:label>
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    <link:label id="lab_cmct_UnrealizedPremiumAdjustment_3b2ba913-3c47-4dc6-86b5-1e8676ca15e3_terseLabel_en-US" xlink:label="lab_cmct_UnrealizedPremiumAdjustment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Unrealized premium adjustment</link:label>
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    <link:label id="lab_cmct_UnrealizedPremiumAdjustment_documentation_en-US" xlink:label="lab_cmct_UnrealizedPremiumAdjustment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the amount of unrealized premium adjustment during the period.</link:label>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_af6ff92a-96e0-491f-80a1-30ffde75cc35_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2024</link:label>
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    <link:label id="lab_us-gaap_LandMember_9471061d-1854-4f62-b1ee-1d4426513c6d_terseLabel_en-US" xlink:label="lab_us-gaap_LandMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LandMember"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7a06322c-aee3-4bd7-a059-04d95aacfdd7_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Granted (in shares)</link:label>
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    <link:label id="lab_cmct_DeferredTaxAssetsOperatingLossCarryforwardsContinuingAndDiscontinuedOperations_be12c2cb-1b70-4cb8-aeda-1ca436f05f89_terseLabel_en-US" xlink:label="lab_cmct_DeferredTaxAssetsOperatingLossCarryforwardsContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net operating losses</link:label>
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    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Concentration Risk, Percentage</link:label>
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    <link:label id="lab_cmct_OfficePropertiesSegmentMember_d4de93f3-809f-48bc-84ea-26d8910d350f_terseLabel_en-US" xlink:label="lab_cmct_OfficePropertiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Office</link:label>
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    <link:label id="lab_cmct_OfficePropertiesSegmentMember_documentation_en-US" xlink:label="lab_cmct_OfficePropertiesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to Office properties segment of the entity.</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_5412befa-5edb-4272-8012-50ede1db4666_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount available for future borrowings</link:label>
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    <link:label id="lab_stpr_AL_c12c8151-6276-4866-8d77-d2ceb7e9b7cf_terseLabel_en-US" xlink:label="lab_stpr_AL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Alabama</link:label>
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    <link:label id="lab_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts_2d9d07bc-e78a-44d4-8ec4-76e8cf919f6a_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Offering costs, non-issuance specific</link:label>
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    <link:label id="lab_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts_documentation_en-US" xlink:label="lab_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Offering Costs, Non-Issuance Specific Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts" xlink:href="cmct-20211231.xsd#cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts" xlink:to="lab_cmct_PreferredStockOfferingCostsNonIssuanceSpecificCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_f66f5db2-992c-4fcb-9adb-4746a8dd848d_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reconciliation of Hotel Revenue</link:label>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disaggregation of Revenue [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:to="lab_us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_79a92fbf-0ec5-4f44-a57c-b59710f60afa_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_d7d1a5f6-fc78-443e-97eb-c64902d80320_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in real estate</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans_75cbbb20-d0a5-4be3-844c-89734582667b_terseLabel_en-US" xlink:label="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured borrowings&#8212;government guaranteed loans</link:label>
    <link:label id="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans_label_en-US" xlink:label="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discontinued Operation, Secured Borrowings, Government Guaranteed Loans</link:label>
    <link:label id="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans_documentation_en-US" xlink:label="lab_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">For disposal group, amount before allocation of valuation allowances of deferred tax asset attributable to secured borrowings - government guaranteed loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans" xlink:href="cmct-20211231.xsd#cmct_DiscontinuedOperationSecuredBorrowingsGovernmentGuaranteedLoans"/>
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    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_96824a75-b062-4c45-9705-7c8294763203_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Intangible assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles"/>
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    <link:label id="lab_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock_c409f78a-a9f7-4dc8-8317-ea84e1b22a3a_terseLabel_en-US" xlink:label="lab_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Restricted Shares and the Changes During the Year</link:label>
    <link:label id="lab_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Nonvested Restricted Stock Shares Activity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:to="lab_us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember_545c3afe-d290-4ab0-9f0a-dbf65455728a_terseLabel_en-US" xlink:label="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1021 East 7th Street, Austin, TX</link:label>
    <link:label id="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember_label_en-US" xlink:label="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1021 East 7th Street Austin, Texas, Office Property [Member]</link:label>
    <link:label id="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember_documentation_en-US" xlink:label="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1021 East 7th Street Austin, Texas, Office Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:href="cmct-20211231.xsd#cmct_A1021East7thStreetAustinTexasOfficePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:to="lab_cmct_A1021East7thStreetAustinTexasOfficePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward_f019db67-aa89-48f3-87f1-ae56021bd259_terseLabel_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Movement in Mortgage Loans on Real Estate</link:label>
    <link:label id="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward_label_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_MovementInMortgageLoansOnRealEstateRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:to="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyTransactionPropertyManagementMember_a81fd06f-5965-4c2e-bb7d-74d2cfafe1a9_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Property management fees</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionPropertyManagementMember_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Property Management [Member]</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionPropertyManagementMember_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents property management arrangement with related party.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionPropertyManagementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:to="lab_cmct_RelatedPartyTransactionPropertyManagementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyAssetManagementMember_b158f314-a752-44be-8325-1ed3f0a9a611_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset management fees</link:label>
    <link:label id="lab_cmct_RelatedPartyAssetManagementMember_label_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Asset Management [Member]</link:label>
    <link:label id="lab_cmct_RelatedPartyAssetManagementMember_documentation_en-US" xlink:label="lab_cmct_RelatedPartyAssetManagementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents asset management arrangement with related party.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyAssetManagementMember" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyAssetManagementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyAssetManagementMember" xlink:to="lab_cmct_RelatedPartyAssetManagementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_eebcfd95-2156-4005-bfa1-55555921968f_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Annual dividend rate</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockDividendRatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:to="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_d45ab601-078d-4726-96be-9ec6b3e6e24f_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFiveYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_fbdc22d8-efa2-45d1-b0b5-d2610aba878e_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">(Recoveries) write-offs of uncollectible receivables</link:label>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_label_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Receivable, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForDoubtfulAccounts" xlink:to="lab_us-gaap_ProvisionForDoubtfulAccounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_25f8de18-9813-4606-b853-19e61a32c95d_periodStartLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding, beginning balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_8f7bf824-2ccf-4f6b-b2e0-c44b4e127af9_periodEndLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding, ending balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_71af3bc9-085a-4a26-a961-d8536d750446_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet_1e01ad51-4959-4966-be91-7f7b514cd0f4_terseLabel_en-US" xlink:label="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred capitalized costs, net</link:label>
    <link:label id="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet_label_en-US" xlink:label="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivables, Deferred Capitalized Costs, Net</link:label>
    <link:label id="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet_documentation_en-US" xlink:label="lab_cmct_FinancingReceivablesDeferredCapitalizedCostsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivables, Deferred Capitalized Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FinancingReceivablesDeferredCapitalizedCostsNet" xlink:href="cmct-20211231.xsd#cmct_FinancingReceivablesDeferredCapitalizedCostsNet"/>
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    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember_4308c022-6cc5-44c4-bdc8-e5b5744a6cee_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Onsite management and other cost reimbursement</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Reimbursement Of On Site Management And Other Costs [Member]</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Reimbursement Of On Site Management And Other Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:to="lab_cmct_RelatedPartyTransactionReimbursementOfOnSiteManagementAndOtherCostsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit_c9cadab8-8864-4a9d-94a4-61549fc64c7b_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of shares included in preferred stock unit (in shares)</link:label>
    <link:label id="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit_label_en-US" xlink:label="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Share Included In Preferred Stock Unit</link:label>
    <link:label id="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit_documentation_en-US" xlink:label="lab_cmct_PreferredStockShareIncludedInPreferredStockUnit" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Share Included In Preferred Stock Unit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockShareIncludedInPreferredStockUnit" xlink:href="cmct-20211231.xsd#cmct_PreferredStockShareIncludedInPreferredStockUnit"/>
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    <link:label id="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments_f5f48ad9-af0f-42a0-bef2-596e6ea9c743_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Daily average adjusted fair value of investments</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Average Fair Value of Investments</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionAverageFairValueOfInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the daily average gross fair value of investments used to calculate asset management fees.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionAverageFairValueOfInvestments" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionAverageFairValueOfInvestments"/>
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    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_77aa6add-f467-4325-b1c6-9ab6aa8c5018_terseLabel_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment fees remitted and other operating activity</link:label>
    <link:label id="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement_label_en-US" xlink:label="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Operating Activities, Cash Flow Statement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OtherOperatingActivitiesCashFlowStatement"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:to="lab_us-gaap_OtherOperatingActivitiesCashFlowStatement" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyTransactionFeesPayablePerYear_b96df744-7b02-486c-a9de-7b94d37ba1ce_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related party, fees payable per year under agreement</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionFeesPayablePerYear_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction Fees Payable Per Year</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionFeesPayablePerYear_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the fees payable to the related party under the agreement.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionFeesPayablePerYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:to="lab_cmct_RelatedPartyTransactionFeesPayablePerYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionRate_329bd38b-617c-4a47-b60e-1ea9b2dd0019_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related party transaction, rate</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionRate_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionRate" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionRate" xlink:to="lab_us-gaap_RelatedPartyTransactionRate" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_OtherMember_68d81437-78e0-4498-9f1a-0eae6869cc94_terseLabel_en-US" xlink:label="lab_cmct_OtherMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_cmct_OtherMember_label_en-US" xlink:label="lab_cmct_OtherMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other [Member]</link:label>
    <link:label id="lab_cmct_OtherMember_documentation_en-US" xlink:label="lab_cmct_OtherMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Refers to other states</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_OtherMember" xlink:href="cmct-20211231.xsd#cmct_OtherMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_OtherMember" xlink:to="lab_cmct_OtherMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_364dbd78-555e-4b0c-991a-6cbba47a7f69_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities:</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_28573237-affa-4064-98c1-0b450ef74df6_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK, AND EQUITY</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_64d16948-51f8-4592-95ad-7c43cc076add_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payments to be Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_16f0070b-d633-4cf4-8c0a-e72746f14ba1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Write-down or Reserve, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:to="lab_us-gaap_SECScheduleIIIRealEstateWritedownOrReserveAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts_099d6257-7f97-46ff-86da-ee43dd2b3208_terseLabel_en-US" xlink:label="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Issuance offering costs for preferred stock and warrants</link:label>
    <link:label id="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts_label_en-US" xlink:label="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock And Warrants, Offering Costs, Issuance Specific Offering Costs</link:label>
    <link:label id="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts_documentation_en-US" xlink:label="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock And Warrants, Offering Costs, Issuance Specific Offering Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:href="cmct-20211231.xsd#cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:to="lab_cmct_PreferredStockAndWarrantsOfferingCostsIssuanceSpecificOfferingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract_20eba7c3-bbca-403e-be45-95107271fdba_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">CASH FLOWS FROM OPERATING ACTIVITIES:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_4ae9aa1a-b004-47cf-97d0-d665f2df7b9f_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">EARNINGS PER SHARE ("EPS")</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EarningsPerShareTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock" xlink:to="lab_us-gaap_EarningsPerShareTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_35eba2dd-66f8-4ec4-b419-635a04819861_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_2929f91f-21c4-42d6-a2bc-fc28109817a9_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LoansNotSecuredByRealEstate_11a0f932-1198-496a-8ed7-ea268d3e7a2c_terseLabel_en-US" xlink:label="lab_cmct_LoansNotSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans not secured by real estate</link:label>
    <link:label id="lab_cmct_LoansNotSecuredByRealEstate_label_en-US" xlink:label="lab_cmct_LoansNotSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans, Not Secured By Real Estate</link:label>
    <link:label id="lab_cmct_LoansNotSecuredByRealEstate_documentation_en-US" xlink:label="lab_cmct_LoansNotSecuredByRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carrying amount of loans not secured by real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LoansNotSecuredByRealEstate" xlink:href="cmct-20211231.xsd#cmct_LoansNotSecuredByRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LoansNotSecuredByRealEstate" xlink:to="lab_cmct_LoansNotSecuredByRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_8e3e349e-5841-4c1c-b37e-36c4368d416a_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Investments in Real Estate</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Real Estate Properties [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SeriesAPreferredWarrantsMember_5b0f4fe7-fb45-416a-b0e8-839e52bc5467_terseLabel_en-US" xlink:label="lab_cmct_SeriesAPreferredWarrantsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Warrants</link:label>
    <link:label id="lab_cmct_SeriesAPreferredWarrantsMember_label_en-US" xlink:label="lab_cmct_SeriesAPreferredWarrantsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Warrants [Member]</link:label>
    <link:label id="lab_cmct_SeriesAPreferredWarrantsMember_documentation_en-US" xlink:label="lab_cmct_SeriesAPreferredWarrantsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Preferred Warrants [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SeriesAPreferredWarrantsMember" xlink:href="cmct-20211231.xsd#cmct_SeriesAPreferredWarrantsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SeriesAPreferredWarrantsMember" xlink:to="lab_cmct_SeriesAPreferredWarrantsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued_05369fc4-ca93-46f1-af7a-dd4d22ca32b4_terseLabel_en-US" xlink:label="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassification of Series A preferred Stock to permanent equity (in shares)</link:label>
    <link:label id="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued_label_en-US" xlink:label="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassifications Of Temporary To Permanent Equity, Shares Issued</link:label>
    <link:label id="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued_documentation_en-US" xlink:label="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reclassifications Of Temporary To Permanent Equity, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:href="cmct-20211231.xsd#cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:to="lab_cmct_ReclassificationsOfTemporaryToPermanentEquitySharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCredit_f94ec0e9-bf19-4292-b7d4-e07b4a362727_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt outstanding</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_label_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit" xlink:to="lab_us-gaap_LineOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RelatedPartyTransactionSharesIssued_5444c204-1c58-4928-bd41-4b7d68fec29d_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related party, shares issued (in shares)</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionSharesIssued_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Shares Issued</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionSharesIssued_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionSharesIssued" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RelatedPartyTransactionSharesIssued" xlink:href="cmct-20211231.xsd#cmct_RelatedPartyTransactionSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RelatedPartyTransactionSharesIssued" xlink:to="lab_cmct_RelatedPartyTransactionSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_4fb1ef5b-ec85-4dcc-b519-8ad237d66b2e_negatedPeriodStartLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred loan costs, beginning balance</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_47622c19-fc8b-4955-9fdb-0c94fee059a9_negatedPeriodEndLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred loan costs, ending balance</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredFinanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet" xlink:to="lab_us-gaap_DeferredFinanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromNotesPayable_79039e8e-a45e-4693-a15b-9f2e9a33f762_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromNotesPayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from SBA 7(a) loan-backed notes</link:label>
    <link:label id="lab_us-gaap_ProceedsFromNotesPayable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Notes Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromNotesPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromNotesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromNotesPayable" xlink:to="lab_us-gaap_ProceedsFromNotesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_bf8da993-6881-461b-be8b-04de410ab66f_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_fb6e620d-89c6-49bd-af18-2eed60c488f5_terseLabel_en-US" xlink:label="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired finite lived intangible lease liabilities average useful life</link:label>
    <link:label id="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_label_en-US" xlink:label="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Finite Lived Intangible Liabilities Weighted Average Useful Life</link:label>
    <link:label id="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife_documentation_en-US" xlink:label="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average amortization period of finite-lived intangible liabilities acquired either individually or as part of a group of liabilities, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:href="cmct-20211231.xsd#cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:to="lab_cmct_AcquiredFiniteLivedIntangibleLiabilitiesWeightedAverageUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_1815e159-f894-495a-b9ef-f43a5d88fca5_verboseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired in-place Leases</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LeasesAcquiredInPlaceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightDomain_1da832ae-62a9-4d6d-bd71-2e5db2cdef95_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfWarrantOrRightDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfWarrantOrRightDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfWarrantOrRightDomain" xlink:to="lab_us-gaap_ClassOfWarrantOrRightDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_477d75e5-e80d-4e1f-859a-060a94ec40cb_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2023</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Amortization Income, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_f8c6a9e9-f1f5-4d55-a2da-f4c8a5b55c49_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_3761748e-0f11-4545-8582-783669b4c7d9_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Issuance of shares of stock</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_2dd1b62d-2704-405e-9ec1-5881cef5eb87_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Issuance of Series D Preferred Stock</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstatePolicyTextBlock_95f16981-b02e-426d-ab0a-72e14de74448_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Investments in Real Estate</link:label>
    <link:label id="lab_us-gaap_RealEstatePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstatePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstatePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePolicyTextBlock" xlink:to="lab_us-gaap_RealEstatePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_d1a28678-84f2-4837-a8c9-bc1a1db0ccfc_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">DEBT</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AccretionOfLoanFeesAndDiscounts_7df37d73-22ec-448c-9931-e1528c0e5b4b_terseLabel_en-US" xlink:label="lab_cmct_AccretionOfLoanFeesAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other - accretion of loan discounts, net of amortization of deferred origination costs</link:label>
    <link:label id="lab_cmct_AccretionOfLoanFeesAndDiscounts_label_en-US" xlink:label="lab_cmct_AccretionOfLoanFeesAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accretion Of Loan Fees And Discounts</link:label>
    <link:label id="lab_cmct_AccretionOfLoanFeesAndDiscounts_documentation_en-US" xlink:label="lab_cmct_AccretionOfLoanFeesAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accretion of loan fees and discounts of mortgage loans.</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditMember_c407f214-84e8-435e-adbe-389960ead309_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_13570735-fbbf-47bd-a46c-c30a55c36837_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember" xlink:to="lab_us-gaap_LineOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_d8e50a51-2c4e-45a7-adcb-8dfe1a8045a2_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">STOCK-BASED COMPENSATION PLANS</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_f2f1948b-1cb7-4078-9a0a-367b67c416f7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_5e02eeb7-1a40-4f99-8060-302a4ea5c159_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of common dividends</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_111bcd96-7648-4d4d-b89d-1204cf9b38d0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_1a338bb4-3600-4740-b32b-c8018d4169b3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of Common Stock offering costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of Stock Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfStockIssuanceCosts" xlink:to="lab_us-gaap_PaymentsOfStockIssuanceCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_c78748c6-be97-437c-8a85-808569054e25_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Issuance of shares of stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_25632cc7-30e8-4bf7-9aa4-1492a76c0b0f_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Issuance of Series D Preferred Stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_df0288cd-a1e6-4c6a-8813-dd5c8fe52dc7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redemption of Preferred Stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments for Repurchase of Redeemable Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SeriesLPreferredStockMember_a99dabec-7700-4ea9-94be-40165dce0592_verboseLabel_en-US" xlink:label="lab_cmct_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series L Preferred Stock, $0.001 Par Value</link:label>
    <link:label id="lab_cmct_SeriesLPreferredStockMember_86c45efc-1721-499b-9f50-2d6b5bc92555_terseLabel_en-US" xlink:label="lab_cmct_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series L Preferred Stock</link:label>
    <link:label id="lab_cmct_SeriesLPreferredStockMember_label_en-US" xlink:label="lab_cmct_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series L Preferred Stock [Member]</link:label>
    <link:label id="lab_cmct_SeriesLPreferredStockMember_documentation_en-US" xlink:label="lab_cmct_SeriesLPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series L Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SeriesLPreferredStockMember" xlink:href="cmct-20211231.xsd#cmct_SeriesLPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SeriesLPreferredStockMember" xlink:to="lab_cmct_SeriesLPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_e0201f87-e963-47c5-90c8-784d60234ade_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2025</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_b7cc67ed-0601-49c5-a23c-e0e45937b562_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TenantImprovements_bd34745b-3318-47a7-add0-f249ff5ebfaa_terseLabel_en-US" xlink:label="lab_us-gaap_TenantImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant improvements</link:label>
    <link:label id="lab_us-gaap_TenantImprovements_label_en-US" xlink:label="lab_us-gaap_TenantImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TenantImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TenantImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TenantImprovements" xlink:to="lab_us-gaap_TenantImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_57287d51-fba7-4452-b6dc-6c0524b1e074_terseLabel_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disaggregation of Revenue [Line Items]</link:label>
    <link:label id="lab_us-gaap_DisaggregationOfRevenueLineItems_label_en-US" xlink:label="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disaggregation of Revenue [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisaggregationOfRevenueLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DisaggregationOfRevenueLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisaggregationOfRevenueLineItems" xlink:to="lab_us-gaap_DisaggregationOfRevenueLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_IncentiveToLesseeAccumulatedAmortization_0c3d6760-f342-4816-8dc0-88c7b12443ea_terseLabel_en-US" xlink:label="lab_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease incentives, accumulated amortization</link:label>
    <link:label id="lab_cmct_IncentiveToLesseeAccumulatedAmortization_label_en-US" xlink:label="lab_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incentive To Lessee, Accumulated Amortization</link:label>
    <link:label id="lab_cmct_IncentiveToLesseeAccumulatedAmortization_documentation_en-US" xlink:label="lab_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accumulated amount of amortization of deferred charge for an incentive or inducement granted by a lessor to a lessee, in order to motivate the lessee to enter the lease agreement, which incentive or inducement is to be recognized as a reduction of rental revenue over the lease term.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:href="cmct-20211231.xsd#cmct_IncentiveToLesseeAccumulatedAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:to="lab_cmct_IncentiveToLesseeAccumulatedAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_a68d78f2-7e44-4ef6-8191-1f58d1d75f1f_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_d13915bb-f106-4a47-b59a-af438f87b3c4_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES (Note 13)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationThirtyonePropertyMember_2e4fdbe2-a39f-467f-a0f3-15fa840590f5_terseLabel_en-US" xlink:label="lab_cmct_LocationThirtyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sheraton Grand Hotel Sacramento, CA</link:label>
    <link:label id="lab_cmct_LocationThirtyonePropertyMember_label_en-US" xlink:label="lab_cmct_LocationThirtyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Thirtyone Property [Member]</link:label>
    <link:label id="lab_cmct_LocationThirtyonePropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationThirtyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location thirty-one.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationThirtyonePropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationThirtyonePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationThirtyonePropertyMember" xlink:to="lab_cmct_LocationThirtyonePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_06efe484-3fa7-4bdf-94aa-a9f36cc31c39_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_ed5ecddc-a9cd-4118-8877-4a98bdca4fb5_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_PresidentMember_a02bef1f-3913-453b-a5f4-16a9c293b7b3_terseLabel_en-US" xlink:label="lab_srt_PresidentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">President</link:label>
    <link:label id="lab_srt_PresidentMember_label_en-US" xlink:label="lab_srt_PresidentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">President [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_PresidentMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_PresidentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_PresidentMember" xlink:to="lab_srt_PresidentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockMember_dd805708-e398-4ea1-93e2-ad5ce6faca53_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Stock</link:label>
    <link:label id="lab_us-gaap_RestrictedStockMember_label_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RestrictedStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockMember" xlink:to="lab_us-gaap_RestrictedStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_540c4af7-e7d0-41e2-ba23-a3a1adca7e5f_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivablesAbstract_79630f7a-8198-4bfe-aa4e-695fab1b62a7_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:label id="lab_us-gaap_ReceivablesAbstract_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ReceivablesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesAbstract" xlink:to="lab_us-gaap_ReceivablesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_ad901985-bd6b-4956-8ad0-7c83f73cb3a2_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Issuances &amp; Assumptions</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Issuance of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_CO_9aa7fa3a-ac83-4a40-b818-2d05101de7dd_terseLabel_en-US" xlink:label="lab_stpr_CO" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Colorado</link:label>
    <link:label id="lab_stpr_CO_label_en-US" xlink:label="lab_stpr_CO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">COLORADO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_CO" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_CO"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_CO" xlink:to="lab_stpr_CO" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_5d041e27-7926-48bd-87a8-837760052351_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of real estate (Note 3)</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_f79f3ec2-cee1-424e-b2c0-b444330a8859_verboseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of real estate</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_7d3a7017-c4c9-478a-8c05-3744dbec0416_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of real estate</link:label>
    <link:label id="lab_us-gaap_ImpairmentOfRealEstate_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Impairment of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ImpairmentOfRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ImpairmentOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfRealEstate" xlink:to="lab_us-gaap_ImpairmentOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AuditorName_a1231703-4664-4d8b-9dac-accb2e206553_terseLabel_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name</link:label>
    <link:label id="lab_dei_AuditorName_label_en-US" xlink:label="lab_dei_AuditorName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AuditorName" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_AuditorName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AuditorName" xlink:to="lab_dei_AuditorName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CostsAndExpenses_37191117-4c38-436b-aafd-5041f047cbf4_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total Expenses</link:label>
    <link:label id="lab_us-gaap_CostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpenses" xlink:to="lab_us-gaap_CostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract_ad203236-d132-43a1-b498-5676fec409f9_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Numerator:</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_e5a823a4-344a-45c3-9a2d-806ab8a8ab55_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightOutstanding_62f41c1c-076f-4ffb-8437-31f6033ca25c_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Warrants outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightOutstanding_9fb3e27c-15fd-47e5-b0da-41ed0877ac55_verboseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Warrants outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightOutstanding_label_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfWarrantOrRightOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:to="lab_us-gaap_ClassOfWarrantOrRightOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RedeemablePreferredStockDividends_8b4716a0-5abc-434d-b754-9cdbf5f98e46_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock deemed dividends (Note 9)</link:label>
    <link:label id="lab_us-gaap_RedeemablePreferredStockDividends_c518fe7b-4646-44af-b5d7-e50e9cbcb6ea_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock deemed dividends</link:label>
    <link:label id="lab_us-gaap_RedeemablePreferredStockDividends_2e2a4cc9-36c9-4c4d-bcad-81aae167ec56_verboseLabel_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock dividend</link:label>
    <link:label id="lab_us-gaap_RedeemablePreferredStockDividends_label_en-US" xlink:label="lab_us-gaap_RedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable Preferred Stock Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RedeemablePreferredStockDividends" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RedeemablePreferredStockDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemablePreferredStockDividends" xlink:to="lab_us-gaap_RedeemablePreferredStockDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock_da682120-e41d-4657-9cfb-f40aac16a224_terseLabel_en-US" xlink:label="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets Held for Sale and Discontinued Operations</link:label>
    <link:label id="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock_label_en-US" xlink:label="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets Held For Sale and Discontinued Operations [Policy Text Block]</link:label>
    <link:label id="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock_documentation_en-US" xlink:label="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets Held For Sale and Discontinued Operations [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:href="cmct-20211231.xsd#cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:to="lab_cmct_AssetsHeldForSaleAndDiscontinuedOperationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock_4706da63-3895-4bab-a073-59d15317546d_terseLabel_en-US" xlink:label="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Rent Receivable and Charges</link:label>
    <link:label id="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock_label_en-US" xlink:label="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Rent Receivable and Charges [Policy Text Block]</link:label>
    <link:label id="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock_documentation_en-US" xlink:label="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disclosure of accounting policy for deferred rent receivable and charges.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:href="cmct-20211231.xsd#cmct_DeferredRentReceivableAndChargesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:to="lab_cmct_DeferredRentReceivableAndChargesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract_7478f3e4-aa13-4549-a33e-2e05dbaf891a_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Gross Amount at Which Carried</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Investment Property, at Cost [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCostAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCostAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_StockOfferingCostsNotYetPaid_112f33a0-7990-4c16-b6fe-c2e395c3ac67_terseLabel_en-US" xlink:label="lab_cmct_StockOfferingCostsNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accrued preferred stock offering costs</link:label>
    <link:label id="lab_cmct_StockOfferingCostsNotYetPaid_label_en-US" xlink:label="lab_cmct_StockOfferingCostsNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Offering Costs Not Yet Paid</link:label>
    <link:label id="lab_cmct_StockOfferingCostsNotYetPaid_documentation_en-US" xlink:label="lab_cmct_StockOfferingCostsNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions to deferred stock offering costs not yet paid and included in accounts payable and accrued expenses.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_StockOfferingCostsNotYetPaid" xlink:href="cmct-20211231.xsd#cmct_StockOfferingCostsNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_StockOfferingCostsNotYetPaid" xlink:to="lab_cmct_StockOfferingCostsNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_ac83cb15-fa24-4244-9167-557d9eafba2c_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Warrant right to purchase a share of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_label_en-US" xlink:label="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Each Warrant or Right</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:to="lab_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_HospitalityIndustryMember_267aff2e-d132-4cd4-b072-571519f63cbb_terseLabel_en-US" xlink:label="lab_cmct_HospitalityIndustryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hospitality Industry</link:label>
    <link:label id="lab_cmct_HospitalityIndustryMember_label_en-US" xlink:label="lab_cmct_HospitalityIndustryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hospitality Industry [Member]</link:label>
    <link:label id="lab_cmct_HospitalityIndustryMember_documentation_en-US" xlink:label="lab_cmct_HospitalityIndustryMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Hospitality Industry</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_HospitalityIndustryMember" xlink:href="cmct-20211231.xsd#cmct_HospitalityIndustryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_HospitalityIndustryMember" xlink:to="lab_cmct_HospitalityIndustryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare_a6a9887a-a8d3-455a-90aa-d85815edabad_terseLabel_en-US" xlink:label="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, stated value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare_27290e8c-db37-4a24-9931-e589dd7d3cfa_verboseLabel_en-US" xlink:label="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, stated value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare_label_en-US" xlink:label="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Temporary Equity, Liquidation Preference Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_TemporaryEquityLiquidationPreferencePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:to="lab_us-gaap_TemporaryEquityLiquidationPreferencePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_040d131c-1409-4677-9279-adac8dfc5335_terseLabel_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Carrying Amount</link:label>
    <link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reported Value Measurement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_7489f248-d43f-4b30-be33-cc02102dee13_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock, $0.001 Par Value</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_e56d4294-eab2-4abc-90ff-6c55502c0370_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod_46d82ece-0cee-4e0a-aab0-b2480167fc90_terseLabel_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deductions during period:</link:label>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod_label_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage Loans on Real Estate, Deductions During Period</link:label>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod_documentation_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No definition available.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:href="cmct-20211231.xsd#cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:to="lab_cmct_MortgageLoansOnRealEstateDeductionsDuringPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_3e315646-f5b2-4a62-bab8-266bf3293417_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment net operating income (loss)</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_83f7264e-bc92-45a9-8ce6-3d9a660a7c84_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total segment net operating income</link:label>
    <link:label id="lab_us-gaap_OperatingIncomeLoss_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Operating Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss" xlink:to="lab_us-gaap_OperatingIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember_69142b13-e50d-41ab-8a19-fe39f1c45862_terseLabel_en-US" xlink:label="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted cash for tenant improvement allowance</link:label>
    <link:label id="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember_label_en-US" xlink:label="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Restricted Cash For Tenant Improvement Allowance [Member]</link:label>
    <link:label id="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember_documentation_en-US" xlink:label="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents information pertaining to restricted cash reserve for tenant improvement allowances.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:href="cmct-20211231.xsd#cmct_RestrictedCashForTenantImprovementAllowanceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:to="lab_cmct_RestrictedCashForTenantImprovementAllowanceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends_8b637bdf-09c7-49ed-b7d4-3fe5f13db92c_terseLabel_en-US" xlink:label="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Redeemable preferred stock dividends declared on dilutive shares</link:label>
    <link:label id="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends_label_en-US" xlink:label="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dilutive Securities, Effect On Basic Earnings Per Share, Redeemable Preferred Stock Dividends</link:label>
    <link:label id="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends_documentation_en-US" xlink:label="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dilutive Securities, Effect On Basic Earnings Per Share, Redeemable Preferred Stock Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:href="cmct-20211231.xsd#cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:to="lab_cmct_DilutiveSecuritiesEffectOnBasicEarningsPerShareRedeemablePreferredStockDividends" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LoanBackedNotesMember_05158583-3987-4aaa-9821-fa95b03b5d6d_terseLabel_en-US" xlink:label="lab_cmct_LoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loan-backed notes</link:label>
    <link:label id="lab_cmct_LoanBackedNotesMember_label_en-US" xlink:label="lab_cmct_LoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loan Backed Notes [Member]</link:label>
    <link:label id="lab_cmct_LoanBackedNotesMember_documentation_en-US" xlink:label="lab_cmct_LoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loan Backed Notes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LoanBackedNotesMember" xlink:href="cmct-20211231.xsd#cmct_LoanBackedNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LoanBackedNotesMember" xlink:to="lab_cmct_LoanBackedNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_26a51b40-3a8d-41ba-9418-8f592123e9b4_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2023</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationLineItems_c4c1aae4-94ff-48ce-a82c-94492aad9d54_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationLineItems_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_aaa729e4-b16c-4ca0-8d39-97e652439c0e_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock-based compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_A1037NorthSycamoreLosAngelesCAMember_86cc64a1-262e-487f-9092-01ffa93b151f_terseLabel_en-US" xlink:label="lab_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 North Sycamore, Los Angeles, CA</link:label>
    <link:label id="lab_cmct_A1037NorthSycamoreLosAngelesCAMember_label_en-US" xlink:label="lab_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 North Sycamore, Los Angeles, CA [Member]</link:label>
    <link:label id="lab_cmct_A1037NorthSycamoreLosAngelesCAMember_documentation_en-US" xlink:label="lab_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1037 North Sycamore, Los Angeles, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:href="cmct-20211231.xsd#cmct_A1037NorthSycamoreLosAngelesCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:to="lab_cmct_A1037NorthSycamoreLosAngelesCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_5f1711d5-b581-4f2b-b4d8-e375e2aa129c_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract_0f70a611-a9c6-4cc4-af6a-57e15b0ff58f_terseLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_IL_d36f4226-4a91-4f20-bd86-0cefd111d858_terseLabel_en-US" xlink:label="lab_stpr_IL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Illinois</link:label>
    <link:label id="lab_stpr_IL_label_en-US" xlink:label="lab_stpr_IL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">ILLINOIS</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_IL" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_IL"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_IL" xlink:to="lab_stpr_IL" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_IN_b9e8b45a-b8df-4ea0-a023-be5ca0a712e6_terseLabel_en-US" xlink:label="lab_stpr_IN" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Indiana</link:label>
    <link:label id="lab_stpr_IN_label_en-US" xlink:label="lab_stpr_IN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">INDIANA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_IN" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_IN"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_IN" xlink:to="lab_stpr_IN" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_6a125c33-dab5-4d91-88ab-6e8e515832d4_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related party, fees and expense reimbursements</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction, Amounts of Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionAmountsOfTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_947ecbf5-554f-49fd-aafd-1542a8adb806_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series D Preferred Stock</link:label>
    <link:label id="lab_us-gaap_SeriesDPreferredStockMember_label_en-US" xlink:label="lab_us-gaap_SeriesDPreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series D Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeriesDPreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SeriesDPreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesDPreferredStockMember" xlink:to="lab_us-gaap_SeriesDPreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_TenantImprovementsObligations_f467e33b-3637-4150-a84f-bdb9f30189e1_terseLabel_en-US" xlink:label="lab_cmct_TenantImprovementsObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Future obligations under leases to fund tenant improvements and in other future construction obligation</link:label>
    <link:label id="lab_cmct_TenantImprovementsObligations_label_en-US" xlink:label="lab_cmct_TenantImprovementsObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tenant Improvements Obligations</link:label>
    <link:label id="lab_cmct_TenantImprovementsObligations_documentation_en-US" xlink:label="lab_cmct_TenantImprovementsObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount as of the balance sheet date of obligations under leases to fund tenant improvements and in other future construction obligations. The commitment is in connection with the ownership and operation of real estate properties.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_TenantImprovementsObligations" xlink:href="cmct-20211231.xsd#cmct_TenantImprovementsObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_TenantImprovementsObligations" xlink:to="lab_cmct_TenantImprovementsObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_4d7e2337-ca85-496d-9371-fd55be5ed439_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Office Building</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_d57ed59a-5666-4ccf-bb94-abfc63537cba_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, liquidation preference per share (in usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreference" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockLiquidationPreference"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreference" xlink:to="lab_us-gaap_PreferredStockLiquidationPreference" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_5eabd8c3-b9ba-45b7-80cd-e0e09109a4ed_terseLabel_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative [Domain]</link:label>
    <link:label id="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember_label_en-US" xlink:label="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Collaborative Arrangement and Arrangement Other than Collaborative [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:to="lab_us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember_ac4f26ea-0353-4a10-95f8-df34d5d6e6af_terseLabel_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SBA 7(a) loans receivable, subject to loan-backed notes</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember_label_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">S B A7 A Loans Subject To Loan-Backed Notes [Member]</link:label>
    <link:label id="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember_documentation_en-US" xlink:label="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">S B A7 A Loans Subject To Loan-Backed Notes [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:href="cmct-20211231.xsd#cmct_SBA7ALoansSubjectToLoanBackedNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:to="lab_cmct_SBA7ALoansSubjectToLoanBackedNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxesPaid_bf25463f-0e32-4d59-8c4f-539ce2796f08_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal income taxes paid</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaid_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Income Taxes Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxesPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaid" xlink:to="lab_us-gaap_IncomeTaxesPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ReitSubsidiariesTaxableMember_742326f4-7639-4bd3-9663-4b6195c7cb43_terseLabel_en-US" xlink:label="lab_cmct_ReitSubsidiariesTaxableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TRS</link:label>
    <link:label id="lab_cmct_ReitSubsidiariesTaxableMember_label_en-US" xlink:label="lab_cmct_ReitSubsidiariesTaxableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Reit Subsidiaries Taxable [Member]</link:label>
    <link:label id="lab_cmct_ReitSubsidiariesTaxableMember_documentation_en-US" xlink:label="lab_cmct_ReitSubsidiariesTaxableMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents wholly-owned taxable REIT subsidiaries which are subject ot federal income taxes.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ReitSubsidiariesTaxableMember" xlink:href="cmct-20211231.xsd#cmct_ReitSubsidiariesTaxableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ReitSubsidiariesTaxableMember" xlink:to="lab_cmct_ReitSubsidiariesTaxableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncentiveToLessee_968f4051-9288-43b2-b4d3-8bb1a8c8a689_terseLabel_en-US" xlink:label="lab_us-gaap_IncentiveToLessee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease incentives</link:label>
    <link:label id="lab_us-gaap_IncentiveToLessee_label_en-US" xlink:label="lab_us-gaap_IncentiveToLessee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Incentive to Lessee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncentiveToLessee" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncentiveToLessee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncentiveToLessee" xlink:to="lab_us-gaap_IncentiveToLessee" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssued1_ed3d221f-6755-4c16-a74c-72aad60afd4a_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Equity-based payment for management fees</link:label>
    <link:label id="lab_us-gaap_StockIssued1_label_en-US" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssued1" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssued1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssued1" xlink:to="lab_us-gaap_StockIssued1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_817aa268-bdca-4d34-be2c-70dab23b1002_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ValuationTechniqueAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueAxis" xlink:to="lab_us-gaap_ValuationTechniqueAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_36b605b1-f184-44c5-aba3-a815d5903bb4_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:to="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_FL_811583a1-306a-419e-a9e8-834154d41b29_terseLabel_en-US" xlink:label="lab_stpr_FL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Florida</link:label>
    <link:label id="lab_stpr_FL_label_en-US" xlink:label="lab_stpr_FL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">FLORIDA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_FL" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_FL"/>
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    <link:label id="lab_us-gaap_Liabilities_390a00cd-d54b-4f23-adbd-93b488982688_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_98f3b71e-371f-4348-a78d-df845be0de6f_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InternalCreditAssessmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentAxis" xlink:to="lab_us-gaap_InternalCreditAssessmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationTwentyonePropertyMember_9d5f7968-bbf6-49c4-8304-1264496d6810_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">11620 Wilshire Blvd Los Angeles, CA</link:label>
    <link:label id="lab_cmct_LocationTwentyonePropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twentyone Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentyonePropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentyonePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location twenty-one.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentyonePropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentyonePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationTwentyonePropertyMember" xlink:to="lab_cmct_LocationTwentyonePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationSixteenPropertyMember_a45c3bff-7629-4150-adaa-80bee8b0e6ba_terseLabel_en-US" xlink:label="lab_cmct_LocationSixteenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1 Kaiser Plaza Oakland, CA</link:label>
    <link:label id="lab_cmct_LocationSixteenPropertyMember_label_en-US" xlink:label="lab_cmct_LocationSixteenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Sixteen Property [Member]</link:label>
    <link:label id="lab_cmct_LocationSixteenPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationSixteenPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location sixteen.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationSixteenPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationSixteenPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationSixteenPropertyMember" xlink:to="lab_cmct_LocationSixteenPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans_3471b97d-5110-45ed-a871-468a38e47908_terseLabel_en-US" xlink:label="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loan originations</link:label>
    <link:label id="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans_label_en-US" xlink:label="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Disposal Group, Including Discontinued Operation, New Mortgage Loans</link:label>
    <link:label id="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans_documentation_en-US" xlink:label="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">For disposal group, total amount of new mortgage loans on real estate during the reporting period.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:href="cmct-20211231.xsd#cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:to="lab_cmct_DisposalGroupIncludingDiscontinuedOperationNewMortgageLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_acdda190-a438-4292-b34d-3e9442beaa65_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember_2faddaa9-463e-49a2-9ab5-32ca737b9930_terseLabel_en-US" xlink:label="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred debt issuance costs &#8212; other</link:label>
    <link:label id="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember_label_en-US" xlink:label="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Notes Payable, Other Payables, Deferred Loan Costs [Member]</link:label>
    <link:label id="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember_documentation_en-US" xlink:label="lab_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Notes Payable, Other Payables, Deferred Loan Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_NotesPayableOtherPayablesDeferredLoanCostsMember" xlink:href="cmct-20211231.xsd#cmct_NotesPayableOtherPayablesDeferredLoanCostsMember"/>
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    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_c1617dd9-0a2b-44b5-a1ab-f206fb209650_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
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    <link:label id="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment_3dcfda5f-2b31-4bdd-b68d-42c62ed116d4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans funded</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesIssued_48e9c92c-1174-4faf-ae0a-c23407877097_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockSharesIssued"/>
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    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock_cf0b71b1-6dbb-4b50-bc39-ba7aa991e10d_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION</link:label>
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    <link:label id="lab_cmct_ScheduleOfAssetAcquisitionByAcquisitionTableTextBlock_1477de88-f4f3-4b0d-90f5-09291ea62cc7_terseLabel_en-US" xlink:label="lab_cmct_ScheduleOfAssetAcquisitionByAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Asset Acquisitions</link:label>
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    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_ca96f80b-f4f1-45a3-adc4-9dc194f57aa0_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Size of loans</link:label>
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    <link:label id="lab_us-gaap_RealEstateImprovements_a903f414-ce3d-4d09-9ccc-90c9ba8c04df_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Improvements</link:label>
    <link:label id="lab_us-gaap_RealEstateImprovements_label_en-US" xlink:label="lab_us-gaap_RealEstateImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateImprovements"/>
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    <link:label id="lab_dei_EntityAddressCityOrTown_cf9a9d31-385a-4378-8a4b-1ae043169638_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entity Address, City or Town</link:label>
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    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements_56a17944-fbe2-4852-b7ce-7b22576aef09_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Building and Improvements</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements"/>
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    <link:label id="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeThresholdForEligibilityAnnualizedMember_f3b9ca68-1465-4a98-90b1-ef29737b1c2c_terseLabel_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeThresholdForEligibilityAnnualizedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Quarterly Incentive Fee, Threshold For Eligibility, Annualized</link:label>
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    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_b33cb6f7-5742-4228-bfe9-41294d5f0de8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
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    <link:label id="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations_620463f2-4229-4bec-a0f9-7f1021893366_negatedLabel_en-US" xlink:label="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Valuation allowance</link:label>
    <link:label id="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations_label_en-US" xlink:label="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Assets, Valuation Allowance, Continuing And Discontinued Operations</link:label>
    <link:label id="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations_documentation_en-US" xlink:label="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized for both continuing and discontinued operations.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:href="cmct-20211231.xsd#cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:to="lab_cmct_DeferredTaxAssetsValuationAllowanceContinuingAndDiscontinuedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_KY_0acbdcdd-96be-41ec-b430-107d8f3886f5_terseLabel_en-US" xlink:label="lab_stpr_KY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Kentucky</link:label>
    <link:label id="lab_stpr_KY_label_en-US" xlink:label="lab_stpr_KY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">KENTUCKY</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_KY" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_KY"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_KY" xlink:to="lab_stpr_KY" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_8611ff83-5237-4565-b34c-57a858706702_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableLineItems_f384ce4a-1f15-4abc-8411-2bc8214a1bad_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends Payable [Line Items]</link:label>
    <link:label id="lab_us-gaap_DividendsPayableLineItems_label_en-US" xlink:label="lab_us-gaap_DividendsPayableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Dividends Payable [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DividendsPayableLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableLineItems" xlink:to="lab_us-gaap_DividendsPayableLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans_6f067145-29fb-4f75-921a-43fa8a9c8014_terseLabel_en-US" xlink:label="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding loan commitments and approvals to fund loans</link:label>
    <link:label id="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans_label_en-US" xlink:label="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Outstanding Loan Commitments and Approvals to Fund Loans</link:label>
    <link:label id="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans_documentation_en-US" xlink:label="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the amount of outstanding loan commitments and approvals to fund loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:href="cmct-20211231.xsd#cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:to="lab_cmct_OutstandingLoanCommitmentsAndApprovalsToFundLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationTwentytwoPropertyMember_d564dd2b-a7e5-4fd7-b61c-5a14c03ddb9d_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">4750 Wilshire Blvd Los Angeles, CA</link:label>
    <link:label id="lab_cmct_LocationTwentytwoPropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twentytwo Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentytwoPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location twenty-two.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentytwoPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentytwoPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationTwentytwoPropertyMember" xlink:to="lab_cmct_LocationTwentytwoPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_da8b48a3-7408-46b5-a67e-98eac2670d6d_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember_6b116227-f5bf-45eb-a84e-4ce7124de3d0_terseLabel_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Quarterly Incentive Fee</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember_label_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Quarterly Incentive Fee [Member]</link:label>
    <link:label id="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember_documentation_en-US" xlink:label="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Master Services Agreement, Amendment, Quarterly Incentive Fee [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:href="cmct-20211231.xsd#cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:to="lab_cmct_MasterServicesAgreementAmendmentQuarterlyIncentiveFeeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits_2a0267d1-a0f6-4f8d-9dfa-8a7084204d4a_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Contractual obligation in connection with retirement of company president</link:label>
    <link:label id="lab_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits_label_en-US" xlink:label="lab_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Supplemental Unemployment Benefits, Severance Benefits</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits" xlink:to="lab_us-gaap_SupplementalUnemploymentBenefitsSeveranceBenefits" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_b39066c5-670b-4c0a-b9d7-e2c0abb05d91_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod_e5c4365d-3336-4ce5-bfcf-60802bb85e39_terseLabel_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired below market lease, weighted average amortization period</link:label>
    <link:label id="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod_label_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Below Market Lease, Weighted Average Amortization Period</link:label>
    <link:label id="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod_documentation_en-US" xlink:label="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquired Below Market Lease, Weighted Average Amortization Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:href="cmct-20211231.xsd#cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:to="lab_cmct_AcquiredBelowMarketLeaseWeightedAverageAmortizationPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FinancingReceivableAggregatePrincipalAmount_4235bbef-a686-4291-bbb5-bb5eecb04da5_terseLabel_en-US" xlink:label="lab_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Aggregate amount serviced</link:label>
    <link:label id="lab_cmct_FinancingReceivableAggregatePrincipalAmount_label_en-US" xlink:label="lab_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Aggregate Principal Amount</link:label>
    <link:label id="lab_cmct_FinancingReceivableAggregatePrincipalAmount_documentation_en-US" xlink:label="lab_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Aggregate Principal Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:href="cmct-20211231.xsd#cmct_FinancingReceivableAggregatePrincipalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:to="lab_cmct_FinancingReceivableAggregatePrincipalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_26593c8b-71eb-40a5-b507-b22ec2f513f1_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_cb59cc2c-54cb-4c30-b07b-a3a7d3d67737_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SubsidiarySaleOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:to="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations_2ebf4d72-a9b6-45cd-be83-69eb6965c03f_terseLabel_en-US" xlink:label="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other</link:label>
    <link:label id="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations_label_en-US" xlink:label="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Tax Assets, Other, Continuing And Discontinued Operations</link:label>
    <link:label id="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations_documentation_en-US" xlink:label="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed for both continuing and discontinued operations.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:href="cmct-20211231.xsd#cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:to="lab_cmct_DeferredTaxAssetsOtherContinuingAndDiscontinuedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CorporateNonSegmentMember_7f6eb7c7-6e24-4559-a507-fd4945c9305a_verboseLabel_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Corporate</link:label>
    <link:label id="lab_us-gaap_CorporateNonSegmentMember_89343fca-7ab7-4acb-b5b0-49273e0c383d_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Corporate, Non-Segment</link:label>
    <link:label id="lab_us-gaap_CorporateNonSegmentMember_label_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Corporate, Non-Segment [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateNonSegmentMember" xlink:to="lab_us-gaap_CorporateNonSegmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MajorCustomersAxis_4135bce2-a195-4a80-92ac-0f90a728fe5d_terseLabel_en-US" xlink:label="lab_srt_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Axis]</link:label>
    <link:label id="lab_srt_MajorCustomersAxis_label_en-US" xlink:label="lab_srt_MajorCustomersAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Customer [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MajorCustomersAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MajorCustomersAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MajorCustomersAxis" xlink:to="lab_srt_MajorCustomersAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_OtherFeesMember_0db7abd0-39df-48af-8858-4e414be75ed9_terseLabel_en-US" xlink:label="lab_cmct_OtherFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other amounts due to the CIM Management Entities and certain of its affiliates</link:label>
    <link:label id="lab_cmct_OtherFeesMember_label_en-US" xlink:label="lab_cmct_OtherFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Fees [Member]</link:label>
    <link:label id="lab_cmct_OtherFeesMember_documentation_en-US" xlink:label="lab_cmct_OtherFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_OtherFeesMember" xlink:href="cmct-20211231.xsd#cmct_OtherFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_OtherFeesMember" xlink:to="lab_cmct_OtherFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_d689354d-6e12-494a-a4f6-13c0355107e3_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentAnnualReport_6681a69a-80fd-4ebe-bfd3-fadd338912be_terseLabel_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Annual Report</link:label>
    <link:label id="lab_dei_DocumentAnnualReport_label_en-US" xlink:label="lab_dei_DocumentAnnualReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Document Annual Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentAnnualReport" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_DocumentAnnualReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentAnnualReport" xlink:to="lab_dei_DocumentAnnualReport" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScenarioForecastMember_461878f3-6ffe-4875-8557-c78482c47fd1_terseLabel_en-US" xlink:label="lab_srt_ScenarioForecastMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Forecast</link:label>
    <link:label id="lab_srt_ScenarioForecastMember_label_en-US" xlink:label="lab_srt_ScenarioForecastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Forecast [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScenarioForecastMember" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_ScenarioForecastMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScenarioForecastMember" xlink:to="lab_srt_ScenarioForecastMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_c3c30b48-9b77-4b30-8557-38834e424cf3_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from issuance of Common Stock</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Issuance of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_2ba3df48-1570-4da0-af12-7ca4285e4291_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TOTAL ASSETS</link:label>
    <link:label id="lab_us-gaap_Assets_e0e4888e-1f9d-413c-ab4b-9a53fb784032_terseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_3cfab067-612f-4e1f-bd0f-e2dd70723eba_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred tax liabilities:</link:label>
    <link:label id="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Components of Deferred Tax Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:to="lab_us-gaap_ComponentsOfDeferredTaxLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_80a32c1c-041a-4578-8964-0a95bb929535_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash paid during the period for interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationThirtytwoPropertyMember_e1518a3f-63f5-41af-8373-43ae6efad4e8_terseLabel_en-US" xlink:label="lab_cmct_LocationThirtytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sheraton Grand Hotel Parking &amp; Retail Sacramento, CA</link:label>
    <link:label id="lab_cmct_LocationThirtytwoPropertyMember_label_en-US" xlink:label="lab_cmct_LocationThirtytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Thirtytwo Property [Member]</link:label>
    <link:label id="lab_cmct_LocationThirtytwoPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationThirtytwoPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location thirty-two.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationThirtytwoPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationThirtytwoPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationThirtytwoPropertyMember" xlink:to="lab_cmct_LocationThirtytwoPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_d5f8c7fb-18eb-47fa-9442-25212ce13597_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_TradeNameAndLicenseMember_ea66f5ff-d728-4dfc-bc53-b9834c27a7b2_terseLabel_en-US" xlink:label="lab_cmct_TradeNameAndLicenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade name and license</link:label>
    <link:label id="lab_cmct_TradeNameAndLicenseMember_label_en-US" xlink:label="lab_cmct_TradeNameAndLicenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade Name And License [Member]</link:label>
    <link:label id="lab_cmct_TradeNameAndLicenseMember_documentation_en-US" xlink:label="lab_cmct_TradeNameAndLicenseMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trade Name And License [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_TradeNameAndLicenseMember" xlink:href="cmct-20211231.xsd#cmct_TradeNameAndLicenseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_TradeNameAndLicenseMember" xlink:to="lab_cmct_TradeNameAndLicenseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock_c22ea30e-86d6-4687-95b4-7d712d7d2894_terseLabel_en-US" xlink:label="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premium of the exercise price of the warrant as a percent to net asset value of common stock</link:label>
    <link:label id="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock_label_en-US" xlink:label="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Warrants In Registration Statement Unit, Exercise Price Premium To Net Asset Value Of Common Stock</link:label>
    <link:label id="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock_documentation_en-US" xlink:label="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the premium of the exercise price of each warrant to the per share fair market net asset value of common stock of the entity, as published by the entity at the time of issuance.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:href="cmct-20211231.xsd#cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:to="lab_cmct_WarrantsInRegistrationStatementUnitExercisePricePremiumToNetAssetValueOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock_03f40ee8-a0e6-49b1-a8a2-92a3970872b3_terseLabel_en-US" xlink:label="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Intangible Assets and Liabilities and Related Accumulated Amortization and Accretion</link:label>
    <link:label id="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Intangible Assets and Liabilities [Table Text Block]</link:label>
    <link:label id="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock_documentation_en-US" xlink:label="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tabular disclosure of the aggregate amount of intangible assets and liabilities.</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_cmct_ScheduleOfIntangibleAssetsAndLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_a3ea2eec-05af-46e5-9b82-99da11527511_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_d318e286-837c-4ac2-880b-da5bdbd6942c_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Principal collected on loans</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Principal Repayments on Loans and Leases Held-for-investment</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_7ab31bf5-9e16-4b28-a2eb-3e30f2e6ab74_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash provided by operating activities</link:label>
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    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_7cd63ee7-25f1-43de-bd4c-b3133de2d736_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
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    <link:label id="lab_us-gaap_FurnitureAndFixturesMember_bdfb7bac-bf8b-4871-9fa6-c2ff1b706721_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Furniture, fixtures, and equipment</link:label>
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    <link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_5bc3b2fc-d85e-4bc1-8bfb-187b09cb5f8d_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Weighted average number diluted shares (in shares)</link:label>
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    <link:label id="lab_cmct_LoansSoldForExcessSpreadMember_7415f315-cdbc-4ee4-9511-e1d8f286552b_terseLabel_en-US" xlink:label="lab_cmct_LoansSoldForExcessSpreadMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Secured borrowing principal on SBA 7(a) loans sold for excess spread</link:label>
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    <link:label id="lab_cmct_CommitmentAndContingenciesTable_7d46ca23-1d67-49bc-b6f2-4ad33a41fac2_terseLabel_en-US" xlink:label="lab_cmct_CommitmentAndContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Commitment and Contingencies [Table]</link:label>
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    <link:label id="lab_cmct_CommitmentAndContingenciesTable_documentation_en-US" xlink:label="lab_cmct_CommitmentAndContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">A table containing information pertaining to commitments and contingencies.</link:label>
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    <link:label id="lab_stpr_NM_6a03adf7-f236-45f6-8854-6e36f74fbd26_terseLabel_en-US" xlink:label="lab_stpr_NM" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">New Mexico</link:label>
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    <link:label id="lab_us-gaap_PaymentsOfDividendsMinorityInterest_1f0b2d9c-634f-4caf-8cfb-14d345a67aed_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Noncontrolling interests&#8217; distributions</link:label>
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    <link:label id="lab_cmct_InterestAndOtherOperatingIncome_81c3fbd3-de68-457a-a37e-512cdb183137_terseLabel_en-US" xlink:label="lab_cmct_InterestAndOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Interest and other income</link:label>
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    <link:label id="lab_cmct_InterestAndOtherOperatingIncome_documentation_en-US" xlink:label="lab_cmct_InterestAndOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the amount of Interest earned and other operating income, the components of which are not separately disclosed on the income statement from items that are associated with the entity's normal revenue producing operation during the period.</link:label>
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    <link:label id="lab_us-gaap_DebtPolicyTextBlock_6b8c139d-b56e-4eb7-8c92-45631614769c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premiums and Discounts on Debt</link:label>
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    <link:label id="lab_stpr_PA_92ca07ee-ac43-4dda-9566-e57b50ba3cdf_terseLabel_en-US" xlink:label="lab_stpr_PA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Pennsylvania</link:label>
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    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_75c4d0fd-217a-47f2-ace9-eb31244ca4bd_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
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    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_b11950f1-21bc-45e2-b78b-812e63d97b04_verboseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Depreciation and amortization, net</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:type="arc" order="1"/>
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    <link:label id="lab_stpr_TX_c73b36a0-0a8d-49f0-8c39-c0261f78b2b9_verboseLabel_en-US" xlink:label="lab_stpr_TX" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Texas</link:label>
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    <link:label id="lab_stpr_VA_afe283fd-1f11-41dc-afca-8fb058944a9d_terseLabel_en-US" xlink:label="lab_stpr_VA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Virginia</link:label>
    <link:label id="lab_stpr_VA_label_en-US" xlink:label="lab_stpr_VA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">VIRGINIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_VA" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_VA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_VA" xlink:to="lab_stpr_VA" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandImprovements_1bd4a35d-1fae-4762-b19c-e292e8030717_terseLabel_en-US" xlink:label="lab_us-gaap_LandImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land improvements</link:label>
    <link:label id="lab_us-gaap_LandImprovements_label_en-US" xlink:label="lab_us-gaap_LandImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LandImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovements" xlink:to="lab_us-gaap_LandImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_RealEstateCostsAdditionsAbstract_8893bdb2-c4f4-4d0b-97ad-a2b4774e7201_terseLabel_en-US" xlink:label="lab_cmct_RealEstateCostsAdditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions:</link:label>
    <link:label id="lab_cmct_RealEstateCostsAdditionsAbstract_label_en-US" xlink:label="lab_cmct_RealEstateCostsAdditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Costs Additions [Abstract]</link:label>
    <link:label id="lab_cmct_RealEstateCostsAdditionsAbstract_documentation_en-US" xlink:label="lab_cmct_RealEstateCostsAdditionsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No definition available</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RealEstateCostsAdditionsAbstract" xlink:href="cmct-20211231.xsd#cmct_RealEstateCostsAdditionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_RealEstateCostsAdditionsAbstract" xlink:to="lab_cmct_RealEstateCostsAdditionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_9aa6eca8-d9f2-48b3-9f9a-5cb86735b0a2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2022</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_09576dce-ddd8-4915-94ba-01a61513fdb2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Debt Activity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_352d51ef-289b-4c2a-bebc-464c11fd99cd_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_c429cc50-51b6-4d60-a5d6-50135fed467e_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_SeriesACumulativePreferredStockMember_4c5b304a-31e9-47ac-9c1c-26c6566262e4_terseLabel_en-US" xlink:label="lab_cmct_SeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Cumulative Preferred Stock</link:label>
    <link:label id="lab_cmct_SeriesACumulativePreferredStockMember_label_en-US" xlink:label="lab_cmct_SeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Cumulative Preferred Stock [Member]</link:label>
    <link:label id="lab_cmct_SeriesACumulativePreferredStockMember_documentation_en-US" xlink:label="lab_cmct_SeriesACumulativePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Series A Cumulative Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SeriesACumulativePreferredStockMember" xlink:href="cmct-20211231.xsd#cmct_SeriesACumulativePreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SeriesACumulativePreferredStockMember" xlink:to="lab_cmct_SeriesACumulativePreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeDomain_1c5ec802-e07b-4ec2-b172-327b9a255151_terseLabel_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value of Investment, Range [Domain]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeDomain_label_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value Of Investment Range [Domain]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeDomain_documentation_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Range of daily average gross fair value of investments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FairValueOfInvestmentRangeDomain" xlink:href="cmct-20211231.xsd#cmct_FairValueOfInvestmentRangeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FairValueOfInvestmentRangeDomain" xlink:to="lab_cmct_FairValueOfInvestmentRangeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_exch_XTAE_308831f9-9d6e-41e8-9102-f99dd599bc03_terseLabel_en-US" xlink:label="lab_exch_XTAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tel Aviv Stock Exchange</link:label>
    <link:label id="lab_exch_XTAE_label_en-US" xlink:label="lab_exch_XTAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">TEL AVIV STOCK EXCHANGE [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_exch_XTAE" xlink:href="https://xbrl.sec.gov/exch/2021/exch-2021.xsd#exch_XTAE"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_exch_XTAE" xlink:to="lab_exch_XTAE" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LocationTwentyPropertyMember_c10c5edf-ddbe-4f6f-8269-fccb5d61b0b7_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentyPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">11600 Wilshire Blvd Los Angeles, CA</link:label>
    <link:label id="lab_cmct_LocationTwentyPropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentyPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twenty Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentyPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentyPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location twenty.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentyPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentyPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LocationTwentyPropertyMember" xlink:to="lab_cmct_LocationTwentyPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_415995fa-89e5-4d2b-b6d8-fc5c28688ae1_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionDomain" xlink:to="lab_us-gaap_RelatedPartyTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_fe8015dd-9b33-46fc-9932-f6d0c3a76875_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLoanTypeAxis_f98e8ad3-b848-4c3d-9f30-c955096de81a_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLoanTypeAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Loan Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateLoanTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateLoanTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_d091697d-fa86-44a4-a51d-ee4ccb75e619_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net proceeds from issuance of Preferred Stock</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Proceeds from Issuance of Preferred Stock and Preference Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfPreferredStockAndPreferenceStock" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_SC_e3721d03-58ec-4836-b74d-c63b51717a04_terseLabel_en-US" xlink:label="lab_stpr_SC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">South Carolina</link:label>
    <link:label id="lab_stpr_SC_label_en-US" xlink:label="lab_stpr_SC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SOUTH CAROLINA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_SC" xlink:href="https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd#stpr_SC"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_SC" xlink:to="lab_stpr_SC" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FinancingReceivablePercentCurrent_54c98a5d-873c-4d5b-9cdf-a10a216be3a5_terseLabel_en-US" xlink:label="lab_cmct_FinancingReceivablePercentCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans, percent current</link:label>
    <link:label id="lab_cmct_FinancingReceivablePercentCurrent_label_en-US" xlink:label="lab_cmct_FinancingReceivablePercentCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Percent Current</link:label>
    <link:label id="lab_cmct_FinancingReceivablePercentCurrent_documentation_en-US" xlink:label="lab_cmct_FinancingReceivablePercentCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Percent Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FinancingReceivablePercentCurrent" xlink:href="cmct-20211231.xsd#cmct_FinancingReceivablePercentCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FinancingReceivablePercentCurrent" xlink:to="lab_cmct_FinancingReceivablePercentCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_4e95d273-667d-4e69-a898-35552bbc0fbf_negatedLabel_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions: depreciation</link:label>
    <link:label id="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense_label_en-US" xlink:label="lab_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation, Depreciation Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense"/>
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    <link:label id="lab_cmct_LocationTwentySixPropertyMember_b3999c75-596e-4f00-8465-f6798e4056cd_terseLabel_en-US" xlink:label="lab_cmct_LocationTwentySixPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">1130 Howard Street San Francisco, CA</link:label>
    <link:label id="lab_cmct_LocationTwentySixPropertyMember_label_en-US" xlink:label="lab_cmct_LocationTwentySixPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Location Twenty Six Property [Member]</link:label>
    <link:label id="lab_cmct_LocationTwentySixPropertyMember_documentation_en-US" xlink:label="lab_cmct_LocationTwentySixPropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents activity related to location twenty-six.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LocationTwentySixPropertyMember" xlink:href="cmct-20211231.xsd#cmct_LocationTwentySixPropertyMember"/>
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    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_170899fd-b5cb-4a4e-9ae5-8b7bac166bc9_terseLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt, net</link:label>
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_ab8b96cf-7f4f-46b6-863d-313341f15b2d_totalLabel_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total Debt, Net</link:label>
    <link:label id="lab_us-gaap_DebtAndCapitalLeaseObligations_label_en-US" xlink:label="lab_us-gaap_DebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt and Lease Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtAndCapitalLeaseObligations" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtAndCapitalLeaseObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtAndCapitalLeaseObligations" xlink:to="lab_us-gaap_DebtAndCapitalLeaseObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_12c7f687-eb0b-4839-ba0f-a5d67d9f28f4_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Share-based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_41e723ee-b5ae-4f27-98c6-05ade7d3914e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Asset sales</link:label>
    <link:label id="lab_us-gaap_RealEstateCostOfRealEstateSold_label_en-US" xlink:label="lab_us-gaap_RealEstateCostOfRealEstateSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Cost of Investment in Real Estate Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateCostOfRealEstateSold" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateCostOfRealEstateSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateCostOfRealEstateSold" xlink:to="lab_us-gaap_RealEstateCostOfRealEstateSold" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeAxis_c5ae6e7c-91e5-4324-b5cb-69f0d7ee773c_terseLabel_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value of Investment, Range [Axis]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeAxis_label_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value of Investment, Range [Axis]</link:label>
    <link:label id="lab_cmct_FairValueOfInvestmentRangeAxis_documentation_en-US" xlink:label="lab_cmct_FairValueOfInvestmentRangeAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Information pertaining to the range of daily average gross fair value of investments.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_FairValueOfInvestmentRangeAxis" xlink:href="cmct-20211231.xsd#cmct_FairValueOfInvestmentRangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_FairValueOfInvestmentRangeAxis" xlink:to="lab_cmct_FairValueOfInvestmentRangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock_709f2a3c-a8aa-475b-9927-8f43e9a02d48_terseLabel_en-US" xlink:label="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Asset Management Fees Calculation</link:label>
    <link:label id="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock_label_en-US" xlink:label="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Related Party Transactions Management Fee Calculation [Table Text Block]</link:label>
    <link:label id="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock_documentation_en-US" xlink:label="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Tabular disclosure of management fee calculation with related party.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:href="cmct-20211231.xsd#cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:to="lab_cmct_ScheduleOfRelatedPartyTransactionsManagementFeeCalculationTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_4a9aabbb-608a-495a-ba3c-edc00b1548f7_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS PER SHARE:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Earnings Per Share, Basic and Diluted [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitiesTable_e16fef20-8dc6-4e71-9314-a1ec70a7c93c_terseLabel_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:label id="lab_dei_EntitiesTable_label_en-US" xlink:label="lab_dei_EntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Entities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitiesTable" xlink:href="https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd#dei_EntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitiesTable" xlink:to="lab_dei_EntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_78f688e9-708c-4db5-ac0e-e98d021b4d99_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">NET (LOSS) INCOME</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_f9128de3-c450-4f80-a927-dcbe42f11ded_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_309a56d0-6c7a-48c2-83eb-96782c958090_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_c9deda97-294f-4a60-99a5-9481ae011720_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">End of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_a565c8ec-cd83-4e05-874f-c361704f6c28_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Total cash and cash equivalents and restricted cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember_f5430f87-847b-4b3f-bddd-06b6de95376a_terseLabel_en-US" xlink:label="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense reimbursements to related parties - corporate</link:label>
    <link:label id="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember_label_en-US" xlink:label="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses Related To Corporate Segment Subject To Reimbursement [Member]</link:label>
    <link:label id="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember_documentation_en-US" xlink:label="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expenses Related To Corporate Segment Subject To Reimbursement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:href="cmct-20211231.xsd#cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:to="lab_cmct_ExpensesRelatedToCorporateSegmentSubjectToReimbursementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_214289f2-ea13-4722-a5f2-a00ccd882051_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of stock, number of shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Sale of Stock, Number of Shares Issued in Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_7738a8d7-62c7-4965-bd43-fd74fb9bee03_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common stock, par value (in usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandImprovementsMember_c1e5cd42-7061-4942-aa87-5b5662b1bce4_terseLabel_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land improvements</link:label>
    <link:label id="lab_us-gaap_LandImprovementsMember_label_en-US" xlink:label="lab_us-gaap_LandImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LandImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovementsMember" xlink:to="lab_us-gaap_LandImprovementsMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_cmct_ExpenseReimbursementsMember_documentation_en-US" xlink:label="lab_cmct_ExpenseReimbursementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expense Reimbursements</link:label>
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    <link:label id="lab_cmct_LeaseCommissionFeesMember_cf3172f3-e2e2-4f9b-b854-6c892d2972a2_terseLabel_en-US" xlink:label="lab_cmct_LeaseCommissionFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lease commission</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_f8617e7f-47b8-4b25-a4df-f0f09845e488_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">STOCKHOLDERS' EQUITY</link:label>
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    <link:label id="lab_cmct_LineofCreditFacilityExtensionOptionTerm_7d1c9f36-a4a9-420f-a8d8-74f5babe904c_terseLabel_en-US" xlink:label="lab_cmct_LineofCreditFacilityExtensionOptionTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Extension option, term</link:label>
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    <link:label id="lab_cmct_LineofCreditFacilityExtensionOptionTerm_documentation_en-US" xlink:label="lab_cmct_LineofCreditFacilityExtensionOptionTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the period that the credit facility may be extended under certain circumstances.</link:label>
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    <link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_b78c4dea-d89b-4969-a1d4-e4bc90a48f6a_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Measurement Basis [Axis]</link:label>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_da438db9-f18d-47fe-a054-1dba1fc6dbc3_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2026</link:label>
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    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_2a18d229-01ed-49df-8f63-579886ece87a_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Fair Value of Financial Instruments</link:label>
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    <link:label id="lab_dei_AuditorFirmId_8c929232-1010-420d-bac7-767b70c63d80_terseLabel_en-US" xlink:label="lab_dei_AuditorFirmId" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Auditor Firm ID</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_16d27b8b-896d-4784-9d51-f491d5289f35_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net cash (used in) provided by investing activities</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_68ca9945-0385-46a9-9d70-e90d26733f96_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Vested (in dollars per share)</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
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    <link:label id="lab_cmct_RelatedPartyTransactionsCapitalized_e9519efe-59f8-4432-bf40-7554b2568d91_terseLabel_en-US" xlink:label="lab_cmct_RelatedPartyTransactionsCapitalized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred personnel costs</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionsCapitalized_label_en-US" xlink:label="lab_cmct_RelatedPartyTransactionsCapitalized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Related Party Transactions, Capitalized</link:label>
    <link:label id="lab_cmct_RelatedPartyTransactionsCapitalized_documentation_en-US" xlink:label="lab_cmct_RelatedPartyTransactionsCapitalized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of related party transaction that is capitalized during the period.</link:label>
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    <link:label id="lab_us-gaap_ClassOfStockDomain_9402ddd8-d459-4147-a987-c0c52b256d4a_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_1cf0ed7e-846c-4e3a-b5ec-0dce611bbba1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payment of preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_585a33c8-4704-492c-bda4-0bba44e26b23_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments on preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_cb04e185-57f4-402b-ac7d-71b4cc19e549_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Maximum borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateScheduleTable_46fe9887-cf65-41b1-9f72-3277a0cffffc_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate Schedule [Table]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateScheduleTable_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate Schedule [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateScheduleTable" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateScheduleTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateScheduleTable" xlink:to="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_956c27d6-49d7-41fe-abfe-a520a9c7b1d5_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:label id="lab_us-gaap_SegmentReportingInformationLineItems_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_SegmentReportingInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNumberOfLoans_a2bd2e80-3d9e-409b-ab4c-df5b8d33d498_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of loans</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNumberOfLoans_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Number of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:to="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_2fc977e0-fe5e-4ee3-98cc-87c5204755ba_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable_92ce765c-a0bb-4f69-ad31-d9bf207c8226_negatedLabel_en-US" xlink:label="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Acquisition of real estate</link:label>
    <link:label id="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable_label_en-US" xlink:label="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Payments to Acquire Real Estate and Mortgage Note Receivable</link:label>
    <link:label id="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable_documentation_en-US" xlink:label="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner. Also, the cash outflow from the purchase of receivables arising from the mortgage note on real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:href="cmct-20211231.xsd#cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:to="lab_cmct_PaymentsToAcquireRealEstateAndMortgageNoteReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod_bdc0d3fe-d660-4fd5-99c1-7af350e50ac3_terseLabel_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Additions during period:</link:label>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod_label_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Mortgage Loans on Real Estate, Additions During Period</link:label>
    <link:label id="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod_documentation_en-US" xlink:label="lab_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">No definition available</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod" xlink:href="cmct-20211231.xsd#cmct_MortgageLoansOnRealEstateAdditionsDuringPeriod"/>
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    <link:label id="lab_us-gaap_PreferredStockTextBlock_df3a44cb-f682-44fc-abe2-e676f2143860_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">REDEEMABLE PREFERRED STOCK</link:label>
    <link:label id="lab_us-gaap_PreferredStockTextBlock_label_en-US" xlink:label="lab_us-gaap_PreferredStockTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_PreferredStockTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockTextBlock" xlink:to="lab_us-gaap_PreferredStockTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_d94d9a97-d87f-4032-8751-1d1c13478b94_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred rent receivable</link:label>
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_label_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deferred Rent Receivables, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredRentReceivablesNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DeferredRentReceivablesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRentReceivablesNet" xlink:to="lab_us-gaap_DeferredRentReceivablesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_27ebd994-61f6-4dd5-9c93-f037a34b7a76_negatedPeriodStartLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premiums (discounts), beginning balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_f5c5d245-0f80-40bc-acfd-24f7da0ec5b0_negatedPeriodEndLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Premiums (discounts), ending balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium), Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_f9498d81-2d92-47d6-b59d-8b4f7f827b14_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Expected federal income tax (benefit) provision</link:label>
    <link:label id="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_label_en-US" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
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    <link:label id="lab_cmct_SecScheduleIiiRealEstateAndAccumulatedDepreciationNetCostsCapitalizedSubsequentToAcquisitionOrWriteoffsBuildingsAndImprovements_eef2894b-990c-459d-9bc2-d9ade5ee4aa9_terseLabel_en-US" xlink:label="lab_cmct_SecScheduleIiiRealEstateAndAccumulatedDepreciationNetCostsCapitalizedSubsequentToAcquisitionOrWriteoffsBuildingsAndImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Net Improvements (Write-Offs) Since Acquisition</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLosses_7c2f6a4a-567f-447e-b3f4-66d8189e5310_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loan loss reserves</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLosses_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLosses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss</link:label>
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    <link:label id="lab_us-gaap_PreferredStockMember_982bb836-1350-407e-b366-4b49da8f8573_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Preferred Stock [Member]</link:label>
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    <link:label id="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement_ca9ac8a5-34b7-40b9-aa5a-3ee1b8187267_terseLabel_en-US" xlink:label="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of officers covered under employment agreement</link:label>
    <link:label id="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement_label_en-US" xlink:label="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Number of Employees Covered under Employment Agreement</link:label>
    <link:label id="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement_documentation_en-US" xlink:label="lab_cmct_NumberOfEmployeesCoveredUnderEmploymentAgreement" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Represents the number of employees covered under employment agreement.</link:label>
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    <link:label id="lab_cmct_RealEstateCostsDeductionsAbstractAbstract_bb19d7b3-b6ef-4a22-a3cc-824e7083efa4_terseLabel_en-US" xlink:label="lab_cmct_RealEstateCostsDeductionsAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Deductions:</link:label>
    <link:label id="lab_cmct_RealEstateCostsDeductionsAbstractAbstract_label_en-US" xlink:label="lab_cmct_RealEstateCostsDeductionsAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Costs Deductions Abstract [Abstract]</link:label>
    <link:label id="lab_cmct_RealEstateCostsDeductionsAbstractAbstract_documentation_en-US" xlink:label="lab_cmct_RealEstateCostsDeductionsAbstractAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Real Estate Costs Deductions Abstract [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_RealEstateCostsDeductionsAbstractAbstract" xlink:href="cmct-20211231.xsd#cmct_RealEstateCostsDeductionsAbstractAbstract"/>
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    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_e8af563c-9386-4b6c-8e9c-8dd02f4bb5e4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Schedule of Fair Value Measurement Inputs</link:label>
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    <link:label id="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable_e1b4ce0e-b524-4204-aca6-423db817701a_negatedLabel_en-US" xlink:label="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Loans receivable</link:label>
    <link:label id="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable_label_en-US" xlink:label="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Discontinued Operation, Deferred Tax Liabilities, Loans Receivable</link:label>
    <link:label id="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable_documentation_en-US" xlink:label="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">For disposal group, amount of deferred tax liability attributable to taxable temporary differences loans receivable.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:href="cmct-20211231.xsd#cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:to="lab_cmct_DiscontinuedOperationDeferredTaxLiabilitiesLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember_080ee175-ff73-4ffd-abd7-6c78086d1300_terseLabel_en-US" xlink:label="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land and Building, Los Angeles, California</link:label>
    <link:label id="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember_label_en-US" xlink:label="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land and Building, Los Angeles, California [Member]</link:label>
    <link:label id="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember_documentation_en-US" xlink:label="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land and Building, Los Angeles, California</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:href="cmct-20211231.xsd#cmct_LandAndBuildingLosAngelesCaliforniaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:to="lab_cmct_LandAndBuildingLosAngelesCaliforniaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_f9d92585-3d64-4e21-b107-0098f95fd51f_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">2024</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2f33b59d-c2b7-4caf-bd4a-b4404774aadb_terseLabel_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:label id="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_label_en-US" xlink:label="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:to="lab_srt_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1_857de3f0-7730-450d-b218-5243e203b596_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Federal income tax cost basis of mortgage loans (unaudited)</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Federal Income Tax Basis</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1" xlink:href="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd#srt_MortgageLoansOnRealEstateFederalIncomeTaxBasis1"/>
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    <link:label id="lab_cmct_SECScheduleIIIRealEstateRetirements_9894e26d-ed6e-4d4f-aadf-dea825d16754_negatedLabel_en-US" xlink:label="lab_cmct_SECScheduleIIIRealEstateRetirements" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Retirements</link:label>
    <link:label id="lab_cmct_SECScheduleIIIRealEstateRetirements_label_en-US" xlink:label="lab_cmct_SECScheduleIIIRealEstateRetirements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule III, Real Estate, Retirements</link:label>
    <link:label id="lab_cmct_SECScheduleIIIRealEstateRetirements_documentation_en-US" xlink:label="lab_cmct_SECScheduleIIIRealEstateRetirements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Amount of retirements to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_cmct_SECScheduleIIIRealEstateRetirements" xlink:href="cmct-20211231.xsd#cmct_SECScheduleIIIRealEstateRetirements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_cmct_SECScheduleIIIRealEstateRetirements" xlink:to="lab_cmct_SECScheduleIIIRealEstateRetirements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_ab4937fd-8e2f-4a7f-bdac-dec7986ed538_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Land, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:href="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationCarryingAmountOfLand" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_b67ae167-a021-4508-9d72-455c0c5c82f3_negatedLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xmlns:xml="http://www.w3.org/XML/1998/namespace" xml:lang="en-US">Cost of mortgages sold, net</link:label>
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