Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 390

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 390
---
Consolidated SLSTConsolidated Real EstateTotalInterest income$36,936 $— $36,936 $28,284 $— $28,284 Interest expense26,592 — 26,592 19,928 — 19,928 Total net interest income10,344 — 10,344 8,356 — 8,356 Income from real estate— 53,999 53,999 — 97,725 97,725 Expenses related to real estate— 60,631 60,631 — 134,667 134,667 Total net loss from real estate— (6,632)(6,632)— (36,942)(36,942)Unrealized gains, net11,225 — 11,225 7,259 — 7,259 Gains on derivative instruments, net— 54 54 — 2,668 2,668 Impairment of real estate— (7,180)(7,180)— (44,173)(44,173)Loss on reclassification of disposal group— — — — (14,636)(14,636)Other income— 141 141 — 16,272 16,272 Total other income (loss)11,225 (6,985)4,240 7,259 (39,869)(32,610)Net income (loss)21,569 (13,617)7,952 15,615 (76,811)(61,196)Net loss attributable to non-controlling interest in Consolidated VIEs— 14,231 14,231 — 33,034 33,034 Net income (loss) attributable to Company$21,569 $614 $22,183 $15,615 $(43,777)$(28,162)

31

Redeemable Non-Controlling Interest in Consolidated VIEsThe third-party owners of certain of the non-controlling interests in Consolidated VIEs have the ability to sell their ownership interests to the Company, at their election. The Company has classified these third-party ownership interests as redeemable non-controlling interests in Consolidated VIEs in mezzanine equity on the accompanying condensed consolidated balance sheets.  The holders of the redeemable non-controlling interests may elect