Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 297

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 297
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 5,801 — 5,801 Total net interest income3,776 — 3,776 2,326 — 2,326 Income from real estate— 18,486 18,486 — 35,093 35,093 Expenses related to real estate— 20,027 20,027 — 51,761 51,761 Total net loss from real estate— (1,541)(1,541)— (16,668)(16,668)Unrealized gains (losses), net3,264 — 3,264 (36)— (36)(Losses) gains on derivative instruments, net— (15)(15)— 2,518 2,518 Impairment of real estate— (3,565)(3,565)— (32,214)(32,214)Loss on reclassification of disposal group— — — — (14,636)(14,636)Other income— 1 1 — 3 3 Total other income (loss)3,264 (3,579)(315)(36)(44,329)(44,365)Net income (loss)7,040 (5,120)1,920 2,290 (60,997)(58,707)Net loss attributable to non-controlling interest in Consolidated VIEs— 5,090 5,090 — 22,158 22,158 Net income (loss) attributable to Company$7,040 $(30)$7,010 $2,290 $(38,839)$(36,549)Redeemable Non-Controlling Interest in Consolidated VIEsThe third-party owners of certain of the non-controlling interests in Consolidated VIEs have the ability to sell their ownership interests to the Company, at their election. The Company has classified these third-party ownership interests as redeemable non-controlling interests in Consolidated VIEs in mezzanine equity on the accompanying condensed consolidated balance sheets.  The holders of the redeemable non-controlling interests may elect to sell their ownership interests to the Company at fair value once a year and the sales are subject to annual minimum and maximum amount limitations.   

25

The following table presents activity in redeemable non-controlling interest in Consolidated VIEs for the three months ended March 31, 2025