Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 36

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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)Includes a transfer from disposal group held for sale with respect to an interest rate cap held in a certain Consolidated Real Estate VIE (see Note 9).

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The following table presents the components of realized gains (losses), net and unrealized gains (losses), net related to our derivative instruments, which are included in (losses) gains on derivative instruments, net in our condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands):For the Three Months Ended March 31,20252024Type of Derivative InstrumentRealized Gains (Losses)Unrealized Gains (Losses)Realized Gains (Losses)Unrealized Gains (Losses)Interest rate caps (1)$— $(15)$— $2,806 Options— 2,690 (211)(509)Interest rate swaps26,336 (73,938)5,230 43,709 Credit default swaps(1,000)1,246 (1,011)(995)U.S. Treasury futures(860)(1,261)169 23 Total$24,476 $(71,278)$4,177 $45,034 (1)Includes interest rate caps held by certain Consolidated Real Estate VIEs included in other assets in disposal group held for sale (see Note 9).The following tables present information about an interest rate cap contract related to a variable-rate mortgage payable on real estate that is not included in disposal group held for sale as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):March 31, 2025Financing TypeSOFR Strike PriceNotional AmountExpiration DateMortgage payable on real estate3.22%45,142 January 1, 2026December 31, 2024Financing TypeSOFR Strike PriceNotional AmountExpiration DateMortgage payable on real estate3.22%45,142 January 1, 2025

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The following tables present information about our interest rate swaps whereby we receive floating rate payments in exchange for fixed rate payments as of March 31, 2025 and December 31, 2024, respectively (dollar amounts in thousands):March 31, 2025Swap MaturitiesNotional AmountWeighted Average Fixed Interest RateWeighted Average