Company: ADAMM
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001273685-25-000072
Chunk: 64

Company: ADAMAS TRUST, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 certain joint venture equity investments in multi-family properties are included in liabilities of disposal group held for sale on the accompanying condensed consolidated balance sheets as of June 30, 2025 and December 31, 2024. See Note 9 for additional information.(2)Weighted average interest rate is calculated using the outstanding mortgage balance and interest rate as of the date indicated.(3)For variable-rate mortgages payable, the applicable entities, as required by loan agreements, entered into interest rate cap contracts with counterparties that limit the indexed portion of the interest rate to a fixed rate.  See Note 10 for additional information.   Debt MaturitiesAs of June 30, 2025, maturities for debt on the Company's condensed consolidated balance sheet are as follows (dollar amounts in thousands):Year Ending December 31,Outstanding Balance2025$— 2026125,789 2027— 2028— 2029281,014 203082,500 Thereafter163,691 $652,994 

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16.      Commitments and ContingenciesOutstanding Litigation The Company is at times subject to various legal proceedings arising in the ordinary course of business. As of June 30, 2025, the Company does not believe that any of its current legal proceedings, individually or in the aggregate, will have a material adverse effect on the Company’s operations, financial condition or cash flows.         Commitment to Fund Business Purpose LoansAs of June 30, 2025, the Company had commitments to fund up to $156.2 million of additional advances on existing business purpose loans.  These commitments are generally subject to loan agreements with terms that must be met before the Company funds advances on the commitment.

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 17.      Fair Value of Financial Instruments

The Company has established and documented processes for determining fair values. Fair value is based upon quoted market prices, where available. If listed prices or quotes are not available, then fair value is based upon internally developed models that primarily use inputs that are market-based or independently-sourced market parameters, including interest rate yield curves.A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of valuation hierarchy are defined as follows:Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities