Ares Commercial Real Estate Corporation Announces New Loan Closings
Closing of $135 Million of Senior Financings Brings Total Third Quarter Commitments to More Than
$290 Million
Ares Commercial Real Estate Corporation (NYSE:ACRE) announced today that it provided $135 million in floating rate, senior loan
commitments to finance two multifamily properties consisting of more than 1,000 units in Orlando, Florida. With the closing of
these loans, ACRE has originated more than $290 million of senior loan commitments to multifamily and office property owners so far
in the third quarter.
“Our ability to provide tailored financings to support our clients’ business plans underscores our value proposition and our
ability to provide strong returns for our investors,” said John Jardine, President and Co-Chief Executive Officer of ACRE. “Market
conditions remain favorable, and we continue to execute upon our strong pipeline of attractive investment opportunities.”
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance company primarily engaged in originating and investing in
commercial real estate loans and related investments. Through Ares Commercial Real Estate Corporation’s national direct origination
platform, it provides a broad offering of flexible financing solutions for commercial real estate owners and operators. Ares
Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by
a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading global alternative asset manager with approximately
$95 billion of assets under management as of June 30, 2016. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference
herein.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of
1934, as amended, which relate to future events or the Company’s future performance or financial condition, including the ability
to reinvest the proceeds of the loan sale. These statements are not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a
result of a number of factors, including the returns on current and future investments, rates of repayments and prepayments on the
Company’s mortgage loans, availability of investment opportunities, the Company’s ability to originate additional investments and
completion of pending investments, the availability of capital, the availability and cost of financing, market trends and
conditions in the Company’s industry and the general economy, the level of lending and borrowing spreads, commercial real estate
loan volumes, government-sponsored enterprise activity and the risks described from time to time in the Company’s filings with the
Securities and Exchange Commission. Ares Commercial Real Estate Corporation undertakes no duty to update any forward-looking
statements made herein.
Ares Commercial Real Estate Corporation
Investors:
Carl Drake or John Stilmar, +1 888-818-5298
iracre@aresmgmt.com
or
Media:
Bill Mendel, +1 212-397-1030
bill@mendelcommunications.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160913005611/en/