Company: ADAMM
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001273685-25-000088
Chunk: 2

Company: ADAMAS TRUST, INC.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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$108,361 $431,268 $283,027 Interest expense124,047 88,124 325,137 225,883 Total net interest income36,586 20,237 106,131 57,144 NET LOSS FROM REAL ESTATE:Rental income16,600 26,382 51,940 90,353 Other real estate income2,504 5,521 8,457 16,093 Total income from real estate19,104 31,903 60,397 106,446 Interest expense, mortgages payable on real estate5,409 12,676 17,298 49,996 Depreciation and amortization5,936 8,131 17,759 32,942 Other real estate expenses11,637 18,591 34,466 60,476 Total expenses related to real estate22,982 39,398 69,523 143,414 Total net loss from real estate(3,878)(7,495)(9,126)(36,968)OTHER INCOME (LOSS):    Realized losses, net(5,610)(1,380)(50,481)(19,404)Unrealized gains, net54,852 96,949 197,670 41,046 (Losses) gains on derivative instruments, net(13,006)(60,640)(86,774)4,042 Mortgage banking activities, net14,103 — 14,103 — (Loss) income from equity investments(1,595)6,054 567 10,026 Impairment of real estate(1,619)(7,823)(9,437)(48,142)Loss on reclassification of disposal group— — — (14,636)Other income1,479 19,715 5,644 16,541 Total other income (loss)48,604 52,875 71,292 (10,527)GENERAL, ADMINISTRATIVE AND OPERATING EXPENSES:General and administrative expenses 23,349 11,941 47,549 36,643 Portfolio operating expenses6,747 8,531 21,307 23,672 Loan origination costs3,788 — 3,788 — Financing transaction costs7,941 2,354