Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 85

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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 — (16,900)— (1,563)181,221 Equity investments in consolidated multi-family properties (5)151,210 1,274 (450)— 2,200 154,234 Equity investments in disposal group held for sale (6)19,504 3,080 — — (2,678)19,906 Single-family rental properties142,246 293 — (988)(1,435)140,116 Mortgage servicing rights21,003 — — — (706)20,297 Total investment portfolio$7,386,765 $1,906,193 $(419,707)$(672,676)$64,090 $8,264,665 

(1)Includes draws funded for business purpose bridge loans and existing equity investments in consolidated multi-family properties and capitalized costs for single-family rental properties.

(2)Includes principal repayments and return of invested capital.

(3)Primarily includes net realized gains or losses, changes in net unrealized gains or losses (including reversals of previously recognized net unrealized gains or losses on sales or redemptions), net amortization/accretion/depreciation and net loss from real estate attributable to the Company.

(4)Consolidated SLST is primarily presented on our condensed consolidated balance sheets as residential loans, at fair value and collateralized debt obligations, at fair value. A reconciliation to our condensed consolidated financial statements as of March 31, 2025 and December 31, 2024, respectively, follows (dollar amounts in thousands):

March 31, 2025December 31, 2024Residential loans, at fair value$959,250 $965,672 Deferred interest (a)(5,916)(5,573)Less: Collateralized debt obligations, at fair value(805,273)(811,591)Consolidated SLST investment securities owned by NYMT$148,061 $148,508 

(a)Included in other liabilities on our condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024.

(5)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 condensed consolidated balance sheets.