Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 103

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 103
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837 4,837 Impairment of real estate— (89,548)(89,548)Loss on reclassification of disposal group— (16,163)(16,163)Other income— 2,728 2,728 Total other loss(10,016)(98,146)(108,162)Net loss(461)(129,757)(130,218)Net loss attributable to non-controlling interest in Consolidated VIEs— 29,134 29,134 Net loss attributable to Company$(461)$(100,623)$(101,084)

F-40

Year Ended December 31,2022Consolidated SLSTConsolidated Real EstateTotalInterest income$36,448 $— $36,448 Interest expense25,145 — 25,145 Total net interest income 11,303 — 11,303 Income from real estate— 134,722 134,722 Expenses related to real estate— 245,650 245,650 Total net loss from real estate— (110,928)(110,928)Unrealized losses, net(32,403)— (32,403)Gains on derivative instruments, net— 27,230 27,230 Impairment of real estate— (2,449)(2,449)Other income— 16,308 16,308 Total other (loss) income(32,403)41,089 8,686 Net loss(21,100)(69,839)(90,939)Net loss attributable to non-controlling interest in Consolidated VIEs— 42,044 42,044 Net loss attributable to Company$(21,100)$(27,795)$(48,895)Redeemable Non-Controlling Interest in Consolidated VIEsThe third-party owners of certain of the non-controlling interests in Consolidated VIEs have the ability to sell their ownership interests to the Company, at their election. The Company has classified these third-party ownership interests as redeemable non-controlling interest in Consolidated VIEs in mezzanine equity on the accompanying consolidated balance sheets.  The holders of the redeemable non-controlling interests may elect to sell their ownership interests to the Company at fair value once a year and the sales are subject to annual minimum and maximum amount limitations.  During the year ended December 31, 2024