ACRES Commercial Realty Corp. filings document the formal disclosures of a commercial mortgage REIT focused on commercial real estate mortgage loans and selected equity investments in real estate properties. The record includes Form 8-K reports for operating and financial results, Regulation FD materials, material definitive agreements, auditor changes and capital-structure disclosures covering common stock and preferred stock classes.
Proxy filings cover board elections, executive compensation votes, auditor ratification and shareholder voting matters. Other filings describe governance practices, material agreements involving real estate-related financing and joint venture interests, and disclosure topics tied to the company’s externally managed REIT structure.
ACRES Commercial Realty Corp. is conducting a primary offering of additional shares of its 8.625% Fixed‑to‑Floating Series C Cumulative Redeemable Preferred Stock, each with a $25.00 liquidation preference. The new shares will be fungible with, and form a single series with, the 4,800,000 original Series C shares issued in June 2014 and will trade under the existing NYSE symbol ACRPrC.
From July 30, 2024, the dividend rate floats at Three‑Month Term SOFR + 5.927%, payable quarterly, with a floor of 8.625%. The Series C has no maturity date and can be redeemed at the company’s option at $25.00 per share plus accrued and unpaid distributions, including a special optional redemption upon a defined Change of Control. Holders also obtain a Change of Control conversion right, subject to a share cap and REIT ownership limits. Proceeds are intended for loan originations consistent with the company’s CRE credit strategy and for general corporate purposes, including possible debt repayment.
ACRES Commercial Realty Corp. completed the previously announced merger with ACRES Capital Corp, acquiring its external manager and becoming internally managed. Each ACC share converted into 2.61882 ACR common shares, resulting in 7,478,462 new shares issued and 13,452,489 ACR shares outstanding at the Merger Effective Time. The existing management agreement was terminated for no additional consideration, and new three‑year employment agreements were put in place for key executives with base salaries of $600,000 or $300,000, bonus targets of at least 50% of salary, and change‑in‑control‑enhanced severance.
Concurrently, the company amended its loan and servicing agreement to provide a term loan Facility of $185,000,000, all funded, bearing fixed interest of 8.749% and maturing on July 25, 2033, with four scheduled principal payments of $46,250,000 each from 2030 through maturity. It also privately placed $200 million of 8.625% Senior Secured Notes due July 31, 2031, rated investment grade by Kroll and secured by subsidiary equity and other CRE assets. The company intends to use part of the Notes proceeds to repay its $150 million 5.75% Senior Unsecured Notes at their August 2026 maturity, with the balance for general corporate purposes. The Notes and related covenants require minimum liquidity of $20,000,000, net debt‑to‑equity not exceeding 5.0x, a collateral coverage ratio of at least 200%, and provide a 1.00% interest step‑up upon loss of an investment‑grade rating and a 101% change‑of‑control repurchase right.
ACRES Commercial Realty Corp. expects to complete its previously disclosed merger with ACRES Capital Corp. and the related internalization of management on August 6, 2026. ACRES Capital will merge into a wholly owned subsidiary, the company will acquire its external manager ACRES Capital LLC, terminate the existing management agreement for no additional consideration, and become internally managed. Each outstanding ACC common share will be converted into 2.61882 shares of ACRES Commercial Realty common stock, and the company expects to issue 7,478,994 shares as merger consideration. The company will also assume an ACC credit facility with capacity of $250 million, of which approximately $185.0 million is expected to be outstanding at closing.
On the same expected closing date, the company plans a private placement of $200 million of 8.625% Senior Secured Notes due July 31, 2031. A portion of the proceeds will be used to repay in full $150 million of 5.75% Senior Unsecured Notes maturing in August 2026, with the balance for general corporate purposes. The notes will be secured by first-lien pledges over certain subsidiary equity, residual interests in securitized vehicles and other CRE assets, and guaranteed by specified subsidiaries, and include covenants such as minimum liquidity of $20 million, net debt-to-equity and EBITDA-to-interest tests, and a collateral coverage ratio of at least 200%. Audited financials for ACRES Capital Corp. show 2025 net income attributable to common shares of $8.0 million after a 2024 net loss of $6.7 million, on total assets of $2.17 billion including $2.02 billion of investments held in a consolidated fund.
ACRES Commercial Realty Corp., a CRE-focused REIT, reported a Q2 2026 net loss allocable to common shares of $12,519 thousand, versus a $732 thousand loss a year earlier, with diluted EPS of $(1.87) versus $(0.10). Total revenues were $20,980 thousand, slightly below Q2 2025, while net interest income rose to $10,519 thousand from $8,567 thousand.
Operating expenses increased to $26,514 thousand from $17,511 thousand, driven by $5,111 thousand of merger and internalization costs and sharply higher equity compensation. For the first half of 2026, net loss allocable to common shares was $13,542 thousand and diluted EPS was $(2.04).
CRE loans, net, expanded to $2,107,765 thousand from $1,809,969 thousand, primarily multifamily (80.8% of the loan portfolio). The allowance for credit losses increased to $21,114 thousand, with a year-to-date provision of $716 thousand. A new CRE securitization, ACR 2026‑FL4, added $1,013,541 thousand of consolidated assets and $875,305 thousand of borrowings, lifting total assets to $2,406,678 thousand. Stockholders’ equity was $413,318 thousand, and the company recorded a $21.8 million valuation allowance against deferred tax assets because cumulative losses make future taxable income uncertain.
Entities affiliated with Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, reported as 10% owners of ACRES Commercial Realty Corp., recorded open-market sales totaling 992 shares of 7.875% Series D Preferred Stock at $21.80 per share on July 30–31, 2026. The securities are held by private investment funds and accounts they manage; the reporting persons note only an indirect pecuniary interest and disclaim beneficial ownership. After these trades, those accounts continued to hold 1,177,060 common shares and 339,325 shares of 8.625% Series C Preferred Stock indirectly.
Accounts managed by Eagle Point Credit Management LLC, with Eagle Point DIF GP I LLC as general partner to certain accounts, reported selling a total of 3,807 shares of ACRES Commercial Realty’s 7.875% Series D Preferred Stock between July 27 and 29, 2026 at weighted average prices around $21.78–$21.82 per share. The reporting persons also list indirect holdings of 1,177,060 shares of common stock and 339,325 shares of 8.625% Series C Preferred Stock, while expressly disclaiming beneficial ownership of all reported securities.
ACRES Commercial Realty Corp. reported a GAAP net loss allocable to common shares of $12.5 million, or $(1.87) per diluted share, for the quarter ended June 30, 2026. Earnings Available for Distribution (EAD) allocable to common shares was a loss of $4.9 million, or $(0.74) per diluted share, reflecting merger and internalization costs of $5.1 million and $4.9 million of accelerated equity compensation.
The commercial real estate loan portfolio totaled about $2.1 billion at par, with 81% concentrated in multifamily, a weighted-average loan-to-value of 77%, and 94% of loans current on payments. Nearly all loans are floating-rate indexed to one‑month SOFR, with a weighted-average spread of 3.28%. Total liquidity was $82.7 million, total borrowings were $1.8 billion, and the leverage ratio was 3.2x. The CECL reserve stood at $21.1 million, or 0.99% of loan par.
ACRES is progressing on its previously announced plan to acquire its external manager, ACRES Capital LLC, and internalize management. A special independent board committee unanimously approved the transaction, and 99% of votes cast on the share‑issuance proposal supported it. The deal, expected to close in the third quarter of 2026 subject to customary conditions, is designed to eliminate management and incentive fees, add third‑party fee income and, according to company targets, support post‑transaction EAD yields of 8%–15%.
BlackRock, Inc. filed an amended Schedule 13G reporting beneficial ownership of common stock of ACRES COMMERCIAL REALTY CORP. BlackRock reports beneficial ownership of 370,168 shares, representing 5.2% of the outstanding common stock.
BlackRock has sole voting power over 364,854 shares and sole dispositive power over 370,168 shares, with no shared voting or dispositive power. The filing notes that various underlying clients may receive dividends or sale proceeds, but no single underlying person has more than five percent of ACRES COMMERCIAL REALTY CORP’s common shares.
ACRES Commercial Realty Corp. had two reporting persons, Eagle Point Credit Management LLC and Eagle Point DIF GP I LLC, report that private investment funds and accounts they manage sold an aggregate 9,233 shares of 7.875% Series D Preferred Stock on 22–24 July 2026. Reported weighted average sale prices were about $21.78–$21.79 per share, with individual trades in the $21.78–$21.84 range. The reporting entities could be deemed to have an indirect pecuniary interest but expressly disclaim beneficial ownership of the securities. Indirect positions reported include 1,177,060 common shares and 339,325 shares of 8.625% Series C Preferred Stock.
ACRES Commercial Realty Corp., through its indirect wholly owned subsidiary RCC Real Estate SPE 8, LLC, updated the terms of its Master Repurchase Agreement with JPMorgan Chase Bank, National Association via Amendment No. 5. The amendment extends the agreement’s maturity date from July 21, 2026 to July 21, 2028.
The revised definition of “Maturity Date” allows, at JPMorgan’s discretion and subject to specific Maturity Date Extension Conditions, up to two additional extension periods of up to 364 days each, but never beyond a final maturity of July 21, 2030. As a condition to effectiveness, the Seller must pay an extension fee of $625,000.00 and provide, where applicable, updated Beneficial Ownership Certifications. ACRES continues as Guarantor under the existing Guarantee Agreement, and all prior security interests and liens remain in place.