Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 243

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 243
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 available for sale2,013,817 — — 2,013,817 Multi-family loans— 95,792 — 95,792 Equity investments— 109,962 37,154 147,116 Equity investments in consolidated multi-family properties (1)— 211,214 — 211,214 Equity investments in disposal group held for sale (2)— 36,815 — 36,815 Single-family rental properties151,885 — — 151,885 Total investment portfolio carrying value4,656,268 453,783 37,154 5,147,205 Liabilities:Repurchase agreements(2,471,113)— — (2,471,113)Residential loan securitization CDOs(1,276,780)— — (1,276,780)Senior unsecured notes— — (98,111)(98,111)Subordinated debentures— — (45,000)(45,000)Cash, cash equivalents and restricted cash (3)139,562 — 175,468 315,030 Cumulative adjustment of redeemable non-controlling interest to estimated redemption value— (30,062)— (30,062)Other74,716 (1,352)(34,921)38,443 Net Company capital allocated$1,122,653 $422,369 $34,590 $1,579,612 Company Recourse Leverage Ratio (4)1.6 xPortfolio Recourse Leverage Ratio (5)1.5 x

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(1)Represents the Company's equity investments in consolidated multi-family properties that are not in disposal group held for sale. See "Management's Discussion and Analysis of Financial Condition and Results of Operations—Balance Sheet Analysis—Equity Investments in Multi-Family Entities" for a reconciliation of equity investments in consolidated multi-family properties and disposal group held for sale to the Company's consolidated financial statements.

(2)Represents the Company's equity investments in consolidated multi-family properties that are held for sale in disposal group. See "Management's Discussion and Analysis of Financial Condition and Results of Operations—Balance Sheet Analysis—Equity Investments in Multi-Family Entities" for a reconciliation of equity investments in consolidated multi-family properties and disposal group held for sale to the Company's consolidated financial statements.

(3)Excludes cash in