Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 70

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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364,147 $364,147 $(1,400)$362,747 2026 - 20324.42 %December 31, 2024368,158 368,158 (1,552)366,606 2026 - 20324.48 %(1)The Company repositioned its business through the opportunistic disposition over time of the Company's joint venture equity investments in multi-family properties and reallocation of its capital away from such assets to its targeted assets.  Accordingly, mortgages payable on real estate related to certain joint venture equity investments in multi-family properties are included in liabilities of disposal group held for sale on the accompanying condensed consolidated balance sheets as of December 31, 2024. See Note 9 for additional information.(2)Weighted average interest rate is calculated using the outstanding mortgage balance and interest rate as of the date indicated.(3)For variable-rate mortgages payable, the applicable entities, as required by loan agreements, entered into interest rate cap contracts with counterparties that limit the indexed portion of the interest rate to a fixed rate.  See Note 10 for additional information.   Debt MaturitiesAs of September 30, 2025, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):Year Ending December 31,Outstanding Balance2025$— 2026125,626 2027— 2028— 2029280,068 2030197,500 Thereafter163,453 $766,647 

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16.      Commitments and ContingenciesOutstanding Litigation The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of September 30, 2025, the Company does not believe that any of its current legal proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s operations, financial condition or cash flows.         Commitment to Fund Business Purpose LoansAs of September 30, 2025, the Company had commitments to fund up to $160.5 million of additional advances on existing business purpose loans.  These commitments are generally subject to loan agreements with terms that must be met before the Company funds advances on the commitment. In addition, Constructive had short-term commitments to originate business purpose loans in the amount of $143.8 million as of September 30, 2025.Repurchase Reserves for Origination ActivityAs a seller of business