Ares Commercial Real Estate Corporation Upsizes, Reduces the Cost and Extends the Reinvestment Period of Its Existing Securitization
Ares Commercial Real Estate Corporation (ACRE)
Last ares commercial real estate corporation earnings: 2/20 06:00 am
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Source: Business Wire
Privately Placed $172.7 Million of Additional Investment Grade Notes and Reduced Cost of Funds by 15 Basis Points Extended the Reinvestment Period for Two Additional Years to March 2021 NEW YORK--(BUSINESS WIRE)-- Ares Commercial Real Estate Corporation (NYSE: ACRE) (the “Company” or “ACRE”) announced that its subsidiary placed an additional $172.7 million of investment grade notes, reduced the costs and extended the reinvestment period in connection with its existing ACRE Commercial Mortgage 2017-FL3 securitization (the “2017-FL3 Securitization”). Together with $272.9 million of investment grade notes issued to a third-party in the initial March 2017 private placement, the 2017-FL3 Securitization now totals $445.6 million of investment grade notes held by a third-party investor. In total, these notes have a blended initial weighted average coupon of LIBOR plus 1.70%, representing a 15 ba
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ACRE
News
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- Ares Commercial Real Estate Co. (NYSE: ACRE) had its price target lowered by analysts at Keefe, Bruyette & Woods from $8.00 to $7.50. They now have a "market perform" rating on the stock.MarketBeat
- Ares Commercial Real Estate Co. (NYSE: ACRE) had its price target lowered by analysts at JPMorgan Chase & Co. from $8.00 to $7.00. They now have a "neutral" rating on the stock.MarketBeat
- I'm Deeply Worried About Ares Commercial Real Estate's 14% Yield (Rating Downgrade) [Seeking Alpha]Seeking Alpha
ACRE
Earnings
- 2/22/24 - Beat
ACRE
Sec Filings
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- 4/4/24 - Form DEF
- ACRE's page on the SEC website