Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 344

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 344
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, 2024, respectively (dollar amounts in thousands):June 30, 2025December 31, 2024Investment NameOwnership InterestFair ValueOwnership InterestFair ValueMulti-Family Preferred Equity Ownership InterestsLucie at Tradition Holdings, LLC70%$23,048 70%$21,821 Hudson Bridge Apartments, LLC - Series A, Briar Hill Apartments, LLC, Kings Glen Apartments, LLC, Flagstone Apartments, LLC, Brookfield Apartments II, LLC - Series B, and Silber JBSM Properties, LLC (collectively)58%9,787 58%9,322 Tides on 27th Investors, LLC54%10,418 54%10,245 Rapid City RMI JV LLC50%11,071 50%10,637 EHOF-NYMT Sunset Apartments Preferred, LLC—— 57%21,411 Total - Multi-Family Preferred Equity Ownership Interests54,324 73,436 Joint Venture Equity Investments in Multi-Family PropertiesGWR Cedars Partners, LLC (1)—— 70%141 GWR Gateway Partners, LLC (1)—— 70%1,197 Total - Joint Venture Equity Investments in Multi-Family Properties— 1,338 Single-Family Equity Ownership InterestsConstructive Loans, LLC (2) (3)50%37,116 50%38,718 Total - Single-Family Equity Ownership Interests37,116 38,718 Total$91,440 $113,492 (1)The Company's joint venture equity investments in multi-family properties were transferred to assets of disposal group held for sale during three months ended June 30, 2025 (see Note 9).(2)The Company purchased approximately $78.0 million and $228.7 million of residential loans from this entity during the three and six months ended June 30, 2025, respectively, and approximately $66.6 million and $107.4 million of residential loans from this entity during the three and six months ended June 30, 2024, respectively.  The Company sold approximately $18.1 million of residential loans to this entity during the three and six months ended June 30, 2025, recognizing a realized gain of approximately $0.2 million.(3)On July 15, 2025, the Company purchased the remaining 50% ownership interest in