Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 252

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 252
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ollar amounts in thousands): 

June 30, 2025CountFair Value (1) (2)Investment Amount (2)Weighted Average Preferred Return Rate (3)Weighted Average Remaining Life (Years)Preferred equity investments16 $129,323 $137,881 12.71 %4.2 Preferred equity investment in Consolidated VIE (4)1 17,592 17,615 13.87 %6.5   Total 17 $146,915 $155,496 12.84 %4.5 

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   Total 19 $176,595 $186,509 12.90 %4.1 

(1)Preferred equity investments in the amounts of $75.0 million and $86.2 million are included in multi-family loans on the accompanying condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024, respectively. Preferred equity investments in the amounts of $54.3 million and $73.4 million are included in equity investments on the accompanying condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024, 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 Consolidated VIE that owns a multi-family apartment community.  A reconciliation of our preferred equity investment in the Consolidated VIE to our condensed consolidated financial statements as of June 30, 2025 and December 31, 2024, respectively, is shown below (dollar amounts in thousands):

June 30, 2025December 31, 2024Cash and cash equivalents$500 $392 Real estate, net53,647 53,508 Other assets4,153 4,939 Total assets58,300 58,839