Business
ACRES Commercial Realty Corp. Announces Redemption of CRE Securitizations and Closing of a $940 Million Managed Facility Backed by Commercial Mortgage Loans
ACRES Commercial Realty (NYSE: ACR) (the "Company") announced that it repurchased the assets in ACRES Commercial Realty 2021-FL1 and ACRES Commercial Realty 2021-FL2 in their entirety and brought the existing JP Morgan warehouse facility balance to zero. In conjunction with the transaction, the Company entered into a new $940 million managed facility (the "Facility") with JP Morgan Chase Bank N.A. The Facility will be used to leverage commercial mortgage loan investments. The Facility provides t
About this update from Acres Commercial Realty Corp.
[{"type":"text","content":"UNIONDALE, N.Y., March 17, 2025 /PRNewswire/ -- ACRES Commercial Realty (NYSE: ACR) (the "Company") announced that it repurchased the assets in ACRES Commercial Realty 2021-FL1 and ACRES Commercial Realty 2021-FL2 in their entirety and brought the existing JP Morgan warehouse facility balance to zero. In conjunction with the transaction, the Company entered into a new $940 million managed facility (the "Facility") with JP Morgan Chase Bank N.A. The Facility will be used to leverage commercial mortgage loan investments. The Facility provides term funding with the underlying loans and has a two-year reinvestment period.","length":650,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/ACRES Commercial Realty Corp.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/ACRES Commercial Realty Corp.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":131,"url":"https://media.zenfs.com/en/prnewswire.com/15e66f387017d281d11350917bb934a1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vOBikR4nkiIIdBkuUvisJw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIzMTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/15e66f387017d281d11350917bb934a1","width":400,"height":131}},"href":"https://mma.prnewswire.com/media/1680293/ACRES_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Mark Fogel, President and CEO of the Company, stated, "We are very pleased to announce the redemption of the CRE securitizations at par and the execution of the JP Morgan facility. This financing arrangement with JP Morgan diversifies the Company's capital sources at attractive pricing that will help with the execution of our business strategy and enhance our returns."","length":385,"tagName":"p"},{"type":"text","content":"About ACRES Commercial Realty Corp.","length":35,"tagName":"p"},{"type":"text","content":"ACRES Commercial Realty Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgage loans and may hold equity investments in commercial real estate properties through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender exclusively dedicated to nationwide middle market commercial...