Adamas Trust is an internally-managed REIT that deploys capital across complementary real estate and capital markets businesses, operating through an investment portfolio and Constructive, a business purpose loan originator. The company generates returns through interest income from agency and non-agency mortgage-backed securities, residential loans, single-family rental properties focused on HUD voucher programs, multi-family preferred equity and mezzanine lending, and loan origination and sales activities conducted through Constructive, which originates business purpose loans to residential real estate investors across multiple states. Adamas targets credit-sensitive assets with attractive risk-adjusted returns, maintains disciplined leverage through repurchase agreements and securitization funding, and serves residential real estate investors, institutional capital providers, and government-sponsored enterprises while meeting REIT requirements to distribute at least 90% of taxable income to stockholders.