Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 226

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 226
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 completed a new securitization of residential loans resulting in approximately $74.2 million of net proceeds to us after deducting expenses associated with the transaction and redeemed a residential loan securitization with an outstanding balance of approximately $54.4 million at the time of redemption.

We expect to continue to opportunistically dispose of assets from our portfolio and generate higher portfolio turnover in order to pursue investments across the residential housing sector with a focus on acquiring assets capable of growing our interest income.  We expect to remain selective in acquiring single-family and multi-family residential credit assets and remain committed to prudently managing our liabilities. Our investment and capital allocation decisions depend on prevailing market conditions, among other factors, and may change over time in response to opportunities available in different economic and capital market environments.

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Historical Financial Information

The following tables set forth our selected historical operating and financial data. The selected historical operating and balance sheet data for the years ended and as of December 31, 2024, 2023, 2022, 2021 and 2020 have been derived from our historical financial statements.  Prior year information has been conformed to current year financial statement presentation.

The information presented below is only a summary and does not provide all of the information contained in our historical consolidated financial statements, including the related notes. You should read the information below in conjunction with our historical consolidated financial statements, including the related notes (amounts in thousands, except per share data):

Selected Statement of Operations Data:

For the Years Ended December 31,20242023202220212020Interest income$401,280 $258,660 $258,388 $206,866 $350,161 Interest expense317,425 192,134 129,419 79,284 223,068 Net interest income83,855 66,526 128,969 127,582 127,093 Net loss from real estate(42,841)(31,302)(113,579)(17,583)(344)Other (loss) income(42,236)(39,431)(262,169)156,511 (360,211)General and administrative expenses48,672 49,565 52,440 48,908 42,228 Portfolio operating expenses30,688 23,952 40,888 26,668 11,572 Debt issuance costs12,335 — — — — Net (loss)