Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 219

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 219
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easurement of those assets to estimated fair value less costs to sell.

101

Loss on Reclassification of Disposal Group

The following table presents loss on reclassification of disposal group for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,20252024$ Change20252024$ ChangeLoss on reclassification of disposal group$— $— $— $— $(14,636)$14,636 

One joint venture equity investment was reclassified from disposal group held for sale during the six months ended June 30, 2024. As a result of this transfer, we adjusted the carrying value of the long-lived assets in the Consolidated Real Estate VIE to the lower of the carrying amount before the assets were classified as held for sale adjusted for depreciation and amortization expense that would have been recognized had the assets been continuously classified as held and used and the fair value of the assets at the date of the transfer and recognized an approximately $14.6 million loss on reclassification of disposal group during the six months ended June 30, 2024.

During 2025, there were no joint venture equity investments reclassified from disposal group held for sale.

Other Income (Loss)

The following table presents the components of other income (loss) for the three and six months ended June 30, 2025 and 2024, respectively (dollar amounts in thousands):

For the Three Months Ended June 30,For the Six Months Ended June 30,20252024$ Change20252024$ ChangeServicing fee income$1,973 $— $1,973 $3,953 $— $3,953 (Loss) gain on sale of real estate(19)127 (146)(64)261 (325)Preferred equity and mezzanine loan premiums resulting from early redemption— — — — 98 (98)Gain on de-consolidation of joint venture equity investment in Consolidated VIEs— 261 (261)— 311 (311)Loss on extinguishment of collateralized debt obligations and mortgages payable on real estate— — — — (692)692 Provision for uncollectible receivables— — — — (3,207)3,207 Miscellaneous income