On August 3, 2020, Exantas Capital Corp. (NYSE: XAN) announced the acquisition of its Management Agreement by ACRES Capital Corp. from C-III Capital Partners. The Company secured new capital commitments of up to $375 million from MassMutual and Oaktree Capital, expected to enhance liquidity and support business growth. The management transition to ACRES is aimed at implementing a business plan focused on preserving and increasing book value and earnings, with a new seven-year $250 million senior secured financing facility established to reduce future margin call risks.
Exantas Capital Corp. (NYSE:XAN) will release its Q2 2020 operating results on August 5, 2020, after market close. A live conference call is scheduled for August 6, 2020, at 8:30 a.m. ET, accessible via telephone at +1 (888) 895-3561 or online at exantas.investorroom.com. A replay will be available from 11:30 a.m. ET on August 6 until 12:00 a.m. ET on August 14. Exantas Capital focuses on commercial real estate mortgage loans and debt investments.