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) has announced significant financial restructuring moves, including the complete repurchase of assets in ACRES Commercial Realty 2021-FL1 and 2021-FL2 securitizations and clearing its existing JP Morgan warehouse facility balance. The company has simultaneously secured a new $940 million managed facility with JP Morgan Chase Bank N.A.
The new facility, designed to leverage commercial mortgage loan investments, features a two-year reinvestment period and provides term funding with underlying loans. According to CEO Mark Fogel, this financing arrangement aims to diversify the company's capital sources at competitive pricing, supporting their business strategy and potential return enhancement.
ACRES Commercial Realty (NYSE: ACR) ha annunciato significativi interventi di ristrutturazione finanziaria, inclusa la completa riacquisizione degli attivi nelle securitizzazioni ACRES Commercial Realty 2021-FL1 e 2021-FL2 e la cancellazione del saldo esistente della sua linea di credito con JP Morgan. L'azienda ha contemporaneamente ottenuto una nuova linea di credito gestita da 940 milioni di dollari con JP Morgan Chase Bank N.A.
La nuova linea di credito, progettata per sfruttare gli investimenti in prestiti ipotecari commerciali, prevede un periodo di reinvestimento di due anni e fornisce finanziamenti a termine con prestiti sottostanti. Secondo il CEO Mark Fogel, questo accordo di finanziamento mira a diversificare le fonti di capitale dell'azienda a prezzi competitivi, supportando la loro strategia aziendale e il potenziale miglioramento dei rendimenti.
ACRES Commercial Realty (NYSE: ACR) ha anunciado importantes movimientos de reestructuración financiera, incluyendo la recompra total de activos en las securitizaciones ACRES Commercial Realty 2021-FL1 y 2021-FL2 y la eliminación del saldo existente de su línea de crédito con JP Morgan. La compañía también ha asegurado una nueva facilidad gestionada de 940 millones de dólares con JP Morgan Chase Bank N.A.
La nueva facilidad, diseñada para aprovechar las inversiones en préstamos hipotecarios comerciales, cuenta con un período de reinversión de dos años y proporciona financiamiento a plazo con préstamos subyacentes. Según el CEO Mark Fogel, este acuerdo de financiamiento tiene como objetivo diversificar las fuentes de capital de la empresa a precios competitivos, apoyando su estrategia empresarial y el potencial aumento de los rendimientos.
ACRES 상업용 부동산 (NYSE: ACR)은 ACRES 상업용 부동산 2021-FL1 및 2021-FL2 증권의 자산을 전량 재매입하고 기존 JP Morgan 창고 시설의 잔액을 정리하는 등 중요한 재무 구조조정 조치를 발표했습니다. 이 회사는 동시에 JP Morgan Chase Bank N.A.와 새로운 9억 4천만 달러 규모의 관리 시설을 확보했습니다.
새로운 시설은 상업용 주택담보대출 투자를 활용하도록 설계되었으며, 2년의 재투자 기간을 특징으로 하고 기초 대출을 통한 기간 자금을 제공합니다. CEO Mark Fogel에 따르면, 이 자금 조달 방식은 경쟁력 있는 가격으로 회사의 자본 출처를 다양화하여 비즈니스 전략과 잠재적인 수익 향상을 지원하는 것을 목표로 하고 있습니다.
ACRES Commercial Realty (NYSE: ACR) a annoncé d'importantes mesures de restructuration financière, y compris le rachat complet d'actifs dans les sécuiritisations ACRES Commercial Realty 2021-FL1 et 2021-FL2 et le règlement de son solde de facilité d'entrepôt existant avec JP Morgan. L'entreprise a également sécurisé une nouvelle facilité de gestion de 940 millions de dollars avec JP Morgan Chase Bank N.A.
La nouvelle facilité, conçue pour tirer parti des investissements dans des prêts hypothécaires commerciaux, dispose d'une période de réinvestissement de deux ans et fournit un financement à terme avec des prêts sous-jacents. Selon le PDG Mark Fogel, cet accord de financement vise à diversifier les sources de capital de l'entreprise à des prix compétitifs, soutenant ainsi sa stratégie commerciale et le potentiel d'amélioration des rendements.
ACRES Commercial Realty (NYSE: ACR) hat bedeutende finanzielle Umstrukturierungsmaßnahmen angekündigt, darunter den vollständigen Rückkauf von Vermögenswerten in den ACRES Commercial Realty 2021-FL1 und 2021-FL2 Verbriefungen sowie die Tilgung des bestehenden Saldos seiner JP Morgan Lagerfinanzierung. Das Unternehmen hat gleichzeitig eine neue verwaltete Facility in Höhe von 940 Millionen US-Dollar bei der JP Morgan Chase Bank N.A. gesichert.
Die neue Facility, die darauf ausgelegt ist, Investitionen in gewerbliche Hypothekendarlehen zu nutzen, bietet einen zweijährigen Reinvestitionszeitraum und stellt termingerechte Finanzierung mit zugrunde liegenden Darlehen zur Verfügung. Laut CEO Mark Fogel zielt diese Finanzierungsvereinbarung darauf ab, die Kapitalquellen des Unternehmens zu wettbewerbsfähigen Preisen zu diversifizieren und unterstützt die Geschäftsstrategie sowie die potenzielle Renditesteigerung.
- Secured new $940 million managed facility with JP Morgan Chase
- Successfully redeemed CRE securitizations at par value
- Cleared existing JP Morgan warehouse facility balance to zero
- New facility includes favorable two-year reinvestment period
- Financing arrangement expected to enhance returns
- Increased debt exposure through new $940 million facility
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."
About ACRES Commercial Realty Corp.
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 real estate lending with a focus on multifamily, student housing, hospitality, industrial and office property in top
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by the Company from time to time with the Securities and Exchange Commission, including, without limitation, factors impacting whether we will be able to maintain our sources of liquidity and whether we will be able to identify sufficient suitable investments to increase our originations. The Company undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
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SOURCE ACRES Commercial Realty Corp.
FAQ
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