Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 280

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 280
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 its financing and market conditions. This investment represents 1.8% of the total investment amount of the Mezzanine Lending portfolio. Also during the year ended December 31, 2024, the Company evaluated the hypothetical liquidation value of one preferred equity investment and its preferred equity investment in a Consolidated VIE and ceased further preferred return accruals. These two investments represent 17.3% of the total investment amount of the Mezzanine Lending portfolio.  

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The following tables summarize our Mezzanine Lending portfolio as of December 31, 2024 and 2023, respectively (dollar amounts in thousands):

December 31, 2024CountFair Value (1) (2)Investment Amount (2)Weighted Average Preferred Return Rate (3)Weighted Average Remaining Life (Years)Preferred equity investments18 $159,628 $169,518 12.80 %3.8 Preferred equity investment in Consolidated VIE (4)1 16,967 16,991 13.84 %7.0   Total19 $176,595 $186,509 12.90 %4.1 

December 31, 2023CountFair Value (1) (2)Investment Amount (2)Weighted Average Preferred Return Rate (3)Weighted Average Remaining Life (Years)Preferred equity investments21 $200,034 $200,690 12.40 %4.2 Preferred equity investment in Consolidated VIE (4)1 11,706 11,732 13.50 %8.0   Total 22 $211,740 $212,422 12.46 %4.4 

(1)Preferred equity investments in the amounts of $86.2 million and $95.8 million are included in multi-family loans on the accompanying consolidated balance sheets as of December 31, 2024 and 2023, respectively. Preferred equity investments in the amounts of $73.4 million and $104.2 million are included in equity investments on the accompanying consolidated balance sheets as of December 31, 2024 and 2023, respectively. 

(2)The difference between the fair value and investment amount consists of any unrealized gain or loss.  

(3)Based upon investment amount and contractual preferred return rate.

(4)Represents the Company's preferred equity investment in a Consolid