Company: ADAMM
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001273685-25-000047
Chunk: 26

Company: ADAMAS TRUST, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 loss and represents the difference between the carrying value of total assets and total liabilities held by VIEs, less non-controlling interests, if any.

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The following table presents condensed statements of operations for non-Company-sponsored VIEs for the three months ended March 31, 2025 and 2024, respectively (dollar amounts in thousands).  The following table includes net (loss) income from assets and liabilities of disposal group held for sale and intercompany balances have been eliminated for purposes of this presentation.For the Three Months Ended March 31,20252024Consolidated SLSTConsolidated Real EstateTotalConsolidated SLSTConsolidated Real EstateTotalInterest income$10,740 $— $10,740 $8,127 $— $8,127 Interest expense6,964 — 6,964 5,801 — 5,801 Total net interest income3,776 — 3,776 2,326 — 2,326 Income from real estate— 18,486 18,486 — 35,093 35,093 Expenses related to real estate— 20,027 20,027 — 51,761 51,761 Total net loss from real estate— (1,541)(1,541)— (16,668)(16,668)Unrealized gains (losses), net3,264 — 3,264 (36)— (36)(Losses) gains on derivative instruments, net— (15)(15)— 2,518 2,518 Impairment of real estate— (3,565)(3,565)— (32,214)(32,214)Loss on reclassification of disposal group— — — — (14,636)(14,636)Other income— 1 1 — 3 3 Total other income (loss)3,264 (3,579)(315)(36)(44,329)(44,365)Net income (loss)7,040 (5,120)1,920 2,290 (60,997)(58,707)Net loss attributable to non-controlling interest in Consolidated VIEs— 5,090 5,090 — 22,158 22,158 Net income (loss) attributable to Company$7,040 $(