Company: ADAMM
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001273685-25-000028
Chunk: 139

Company: ADAMAS TRUST, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 16
Chunk 139
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 investment in an entity that originates residential loans.(4)During the year ended December 31, 2024, the Company purchased a first loss subordinated security issued from a securitization that it determined to consolidate as Consolidated SLST. As a result, the Company consolidated assets of the securitization (see Note 7).         

F-70

 Year Ended December 31, 2023Residential loans Residential loansConsolidated SLSTResidential loans held in securitization trustsMulti-family loansEquity investmentsEquity investments in disposal group held for saleTotalBalance at beginning of period$1,081,384 $827,582 $1,616,114 $87,534 $179,746 $9,010 $3,801,370 Total gains/(losses) (realized/unrealized)Included in earnings8,080 (10,748)72,173 11,863 21,279 (3,290)99,357 Transfers out (1) (26,277)— (16,208)(10,306)— — (52,791)Transfer to securitization trust, net (2) (282,831)— 282,831 — — — — Transfer to disposal group held for sale— — — — 5,720 (5,720)— Funding/Contributions— — — 21,924 33,958 — 55,882 Paydowns/Distributions(482,137)(61,974)(518,819)(15,223)(93,587)— (1,171,740)Sales(21,165)— (3,979)— — — (25,144)Acquisitions550,481 — 69,796 — — — 620,277 Balance at the end of period$827,535 $754,860 $1,501,908 $95,792 $147,116 $— $3,327,211 (1)Transfers out of Level 3 assets represents the transfer of residential loans to real estate owned and the consolidation of a VIE previously classified as an equity investment (see Note 7).(2)During the year ended December 31, 2023, the Company transferred certain residential loans into residential loan securit