Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 220

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 220
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,503 84.8 %Dallas, TX291.0 %4011,841 88.7 %Houston, TX294.0 %3921,187 77.6 %Little Rock, AR196.3 %2021,355 89.6 %Louisville, KY193.3 %3001,484 84.2 %Montgomery, AL194.8 %2521,081 71.3 %San Antonio, TX290.9 %6841,236 83.0 %St Petersburg, FL199.0 %3262,565 78.0 %Webster, TX192.9 %366965 78.1 %Total Count/Average1293.5 %3,247 $1,458 82.3 %

(1)Represents average monthly rent per unit.

(2)Represents the weighted average LTV of the underlying properties utilizing combined maximum senior committed mortgage amount and preferred equity balances, if any, and the combined origination appraisal and capital expenditure budget or the most recent appraisal, as applicable.

Property Data for Joint Venture Equity Investments in Multi-Family Properties in Disposal Group Held for Sale

The following table provides summary information regarding the multi-family properties in the disposal group held for sale as of March 31, 2025.

MarketProperty CountOccupancy %UnitsRent per Unit (1)LTV (2)Fort Myers, FL191.0 %338$1,538 76.5 %Tampa, FL191.9 %4001,561 76.4 %Total Count/Average291.5 %738 $1,550 76.4 %

(1)Represents average monthly rent per unit.

(2)Represents the weighted average LTV of the underlying properties utilizing maximum senior committed mortgage amount and combined origination appraisal and capital expenditure budget.

Equity Investment in Entity that Originates Residential Loans

As of March 31, 2025 and December 31, 2024, the Company had an investment in an entity that originates residential loans. The Company accounts for this investment using the equity method and has elected the fair value option. The following table summarizes our ownership interest in the entity that originates residential loans as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):

March 31, 2025