Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 94

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 94
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1 million and net unrealized losses of $5.2 million and $1.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.(2)The Company's equity investment was redeemed during the year ended December 31, 2022.(3)The Company's joint venture equity investments in multi-family properties were transferred to assets of disposal group held for sale during the year ended December 31, 2022. During the year ended December 31, 2023, the Company determined that these joint venture equity investments no longer met the criteria to be classified as held for sale and returned its equity investments in the joint venture entities to equity investments, at fair value (see Note 9). Includes net unrealized losses of $4.4 million, $3.3 million and $1.4 million for the years ended December 31, 2024, 2023 and 2022, respectively.  Summary combined financial information for the Company’s equity investments as of December 31, 2024 and 2023, respectively, and for the years ended December 31, 2024, 2023, and 2022, respectively, is shown below and includes summary financial information for the Company's joint venture equity investments in multi-family properties that are included in assets of disposal group held for sale as of December 31, 2024, 2023 and 2022, respectively (dollar amounts in thousands):December 31, 2024December 31, 2023Balance Sheets:Real estate, net$298,844 $409,078 Residential loans265,319 162,060 Other assets40,969 90,314 Total assets$605,132 $661,452 Mortgages payable on real estate, net$201,682 $295,451 Other liabilities264,979 172,118 Total liabilities466,661 467,569 Members' equity138,471 193,883 Total liabilities and members' equity$605,132 $661,452 

F-33

For the Years Ended December 31,202420232022Operating Statements: (1)Rental income$31,220 $21,299 $23,237 Real estate sales96,000 — 399,783 Cost of real estate sales(85,497)— (277,740)Interest income11,204