Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 180

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 180
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 11.9 %14.00 %80 %1.49xSouth Dakota111,242 8.9 %15.00 %86 %1.50xFlorida110,887 8.6 %11.00 %85 %1.06xSouth Carolina110,139 8.0 %13.00 %76 %1.26xLouisiana18,124 6.4 %10.00 %87 %1.62xOther419,470 15.2 %12.04 %80 %1.38xTotal15$126,887 100.0 %12.55 %83 %1.26x

December 31, 2024StateCountInvestment Amount% TotalWeighted Average CouponWeighted Average LTV (1)Weighted Average DSCR (2)Florida3$54,115 29.0 %13.12 %83 %0.89x(3)Texas649,619 26.6 %12.39 %84 %1.08xArizona115,201 8.2 %14.00 %80 %1.84xTennessee113,045 7.0 %14.00 %86 %0.51x(4)South Dakota110,583 5.7 %15.00 %85 %1.80xSouth Carolina19,645 5.2 %13.00 %75 %1.47xOther634,301 18.3 %11.70 %83 %1.30xTotal19$186,509 100.0 %12.90 %83 %1.18x

(1)Represents the weighted average LTV utilizing combined senior and mezzanine loans and combined origination appraisal and capital expenditure budget.

(2)Represents the weighted average debt service coverage ratio ("DSCR") of the underlying properties and excludes properties that are subject to a senior construction loan agreement.

(3)DSCR affected by non-recurring expenses during the year ended December 31, 2024.

(4)DSCR affected by senior loan and Mezzanine Lending modifications.

138

Equity Investments in Multi-Family Entities

The Company owns, or owned, joint venture equity investments in entities that own multi-family properties. The