Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 322

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 322
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 collateralized by the associated real estate assets. The Company has no obligation for repayment of the mortgages payable but, with respect to certain of the mortgages payable, it may execute a guaranty related to commitment of bad acts.  The following table presents detailed information for these mortgages payable on real estate as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):Maximum Committed Mortgage Principal AmountOutstanding Mortgage BalanceNet Deferred Finance CostMortgage Payable, Net (1)Stated MaturityWeighted Average Interest Rate (2) (3)March 31, 2025$366,928 $366,928 $(1,473)$365,455 2026 - 20324.42 %December 31, 2024368,158 368,158 (1,552)366,606 2026 - 20324.48 %(1)The Company is repositioning its business through the opportunistic disposition over time of the Company's joint venture equity investments in multi-family properties and reallocation of its capital away from such assets to its targeted assets.  Accordingly, mortgages payable on real estate related to certain joint venture equity investments in multi-family properties are included in liabilities of disposal group held for sale on the accompanying condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024. See Note 9 for additional information.(2)Weighted average interest rate is calculated using the outstanding mortgage balance and interest rate as of the date indicated.(3)For variable-rate mortgages payable, the applicable entities, as required by loan agreements, entered into interest rate cap contracts with counterparties that limit the indexed portion of the interest rate to a fixed rate.  See Note 10 for additional information.   Debt MaturitiesAs of March 31, 2025, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):Year Ending December 31,Outstanding Balance2025$— 2026125,959 2027— 2028— 2029282,028 203082,500 Thereafter163,941 $654,428 

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16.      Commitments and ContingenciesOutstanding Litigation The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of March 31, 2025, the Company does not believe that any