Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 350

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 350
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 liabilities and non-controlling interests of the Company's securitizations, Consolidated SLST and Consolidated Real Estate VIEs as of June 30, 2025 (dollar amounts in thousands). Intercompany balances have been eliminated for purposes of this presentation.Other VIEsFinancing VIEsConsolidated SLSTConsolidated Real EstateTotalCash and cash equivalents$— $— $3,941 $3,941 Residential loans, at fair value2,459,555 1,199,383 — 3,658,938 Real estate, net held in Consolidated VIEs (1)— — 473,586 473,586 Assets of disposal group held for sale (2)— — 111,000 111,000 Other assets146,840 4,725 14,821 166,386 Total assets$2,606,395 $1,204,108 $603,348 $4,413,851 Collateralized debt obligations ($2,626,479 at fair value and $738,121 at amortized cost, net)$2,332,703 $1,031,897 $— $3,364,600 Mortgages payable on real estate, net in Consolidated VIEs (3)— — 364,100 364,100 Liabilities of disposal group held for sale (2)— — 92,151 92,151 Other liabilities19,831 9,883 8,877 38,591 Total liabilities$2,352,534 $1,041,780 $465,128 $3,859,442 Redeemable non-controlling interest in Consolidated VIEs (4)$— $— $12,782 $12,782 Non-controlling interest in Consolidated VIEs (5)$— $— $2,545 $2,545 Net investment (6)$253,861 $162,328 $122,893 $539,082 (1)Included in real estate, net in the accompanying condensed consolidated balance sheets.(2)Represents assets and liabilities, respectively, of certain Consolidated Real Estate VIEs included in disposal group held for sale (see Note 9). (3)Included in mortgages payable on real estate, net in the accompanying condensed consolidated balance sheets.(