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

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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olidation of mortgages payable on real estate held in Consolidated VIEs$— $446,832 Consolidation of residential loans held in Consolidated SLST$247,405 $285,057 Consolidation of Consolidated SLST CDOs$235,226 $275,200 Transfer from residential loans to real estate owned$41,280 $68,229 Transfer from residential loans to real estate, net$— $2,640 Transfer from residential loans held for sale to residential loans$213,811 $— Distribution of mortgage servicing rights from equity investment$3,405 $— Non-Cash Financing Activities:  Dividends declared on common stock and dividend equivalents to be paid in subsequent period$23,758 $20,186 Dividends declared on preferred stock to be paid in subsequent period$12,133 $10,454 Mortgages and notes payable assumed by purchaser of real estate held for sale in Consolidated VIEs$— $24,073 Cash, Cash Equivalents and Restricted Cash Reconciliation:Cash and cash equivalents$185,285 $195,066 Restricted cash included in other assets112,430 136,931 Total cash, cash equivalents, and restricted cash$297,715 $331,997 

The accompanying notes are an integral part of the condensed consolidated financial statements.11

ADAMAS TRUST, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2025 

(unaudited)

1.      OrganizationAdamas Trust, Inc., together with its consolidated subsidiaries (“Adamas,” “we,” “our,” or the “Company”), is an internally-managed real estate investment trust (“REIT”) focused on strategically deploying capital across complementary businesses to generate durable earnings and long-term value for stockholders through disciplined portfolio management and an operating platform designed to capture opportunities across real estate and capital markets. Our current investment portfolio includes credit sensitive single-family and multi-family assets, as well as other types of fixed-income investments such as Agency RMBS.  Through our wholly-owned subsidiary, Constructive Loans, LLC ("Constructive"), we also originate business purpose loans for residential real estate investors. On September 3, 2025, the Company changed its name from New York Mortgage Trust, Inc. to Adamas Trust, Inc.The Company conducts its business through