Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 8

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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,902 Losses (gains) on derivative instruments, net73,768 (64,682)Loss (gain) on sale of real estate 64 (261)Gain on de-consolidation of joint venture equity investments in Consolidated VIEs— (311)Impairment of real estate7,818 40,319 Loss on reclassification of disposal group— 14,636 Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate— 692 Income from preferred equity, mezzanine loan and equity investments(6,917)(9,382)Distributions of income from preferred equity, mezzanine loan and equity investments12,228 6,584 Stock based compensation expense, net3,328 1,066 Cash reclassified from assets of disposal group held for sale1,066 568 Changes in operating assets and liabilities9,376 (6,926)Net cash provided by (used in) operating activities65,038 (14,123)Cash Flows from Investing Activities:  Proceeds from sales of investment securities663,336 — Principal paydowns received on investment securities238,943 91,509 Purchases of investment securities(2,115,923)(799,550)Principal repayments received on residential loans743,235 507,782 Proceeds from sales of residential loans36,950 31,918 Purchases of residential loans(680,903)(722,400)Principal repayments received on preferred equity and mezzanine loan investments11,000 — Return of capital from equity investments16,900 5,000 Funding of preferred equity, mezzanine loan and equity investments(276)(867)Net variation margin (paid) received for derivative instruments(105,028)39,017 Net payments received from derivative instruments34,225 27,665 Net proceeds from sale of real estate20,852 17,917 Proceeds from sales of joint venture equity investments in Consolidated VIEs— 550 Decrease in cash from de-consolidation of Consolidated VIEs— (1,214)Purchases of investments held in Consolidated SLST(12,179)(9,857)Capital expenditures on real estate(5,309)(13,555)Purchases of other assets(13)(30)Net cash used in investing activities(1,154,190)(826,115