Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 257

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 2
Chunk 257
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%Alabama170%$6,862 7.8 %Tennessee165%$5,052 5.7 %

December 31, 2024StateProperty CountTotal Equity Ownership InterestNet Equity Investment (1)Percentage of Total Net Equity InvestmentTexas570%$50,505 54.7 %Florida150%$15,868 17.2 %Kentucky170%$11,310 12.2 %Alabama170%$7,106 7.7 %Tennessee165%$5,557 6.0 %

(1)Represents our joint venture equity investment in consolidated multi-family properties net of redeemable non-controlling interest at its estimated redemption value.

Property Data for Joint Venture Equity Investments in Multi-Family Properties not in Disposal Group Held for Sale

The following table provides summary information regarding our joint venture equity investments in multi-family properties that are not in disposal group held for sale as of June 30, 2025.

MarketProperty CountOccupancy %UnitsRent per Unit (1)LTV (2)Collierville, TN195.4 %324$1,514 85.3 %Dallas, TX294.0 %4011,835 89.2 %Houston, TX194.7 %1921,427 78.5 %Little Rock, AR197.5 %2021,374 89.9 %Louisville, KY190.6 %3001,494 84.4 %Montgomery, AL195.2 %2521,087 71.1 %San Antonio, TX293.0 %6841,233 83.4 %St Petersburg, FL197.7 %3262,588 78.5 %Total Count/Average1094.4 %2,681 $1,566 83.2 %

(1)Represents average monthly rent per unit.

(2)Represents the weighted average LTV of the underlying properties utilizing combined maximum senior committed mortgage amount and preferred equity balances, if any, and the combined origination appraisal and capital expenditure budget or the most recent appraisal, as applicable.

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Property Data for Joint Venture Equity Investments in Multi-Family Properties in Disposal Group Held for Sale

The following table provides summary information regarding the multi-family properties in the disposal group held for sale as of June 30, 2025.

MarketProperty CountOccup