Why Investors Should Abandon Ares Commercial Real Estate
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Business Wire (Mar 17, 2014)
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Ares Commercial Real Estate Corporation Schedules Earnings Release for the Fourth Quarter and Full Year 2013Business Wire (Mar 7, 2014)
Business Wire (Jan 30, 2014)
Business Wire (Jan 7, 2014)
ACRE vs. ETF Alternatives
Ares Commercial Real Estate Corp is a specialty finance company, engaged in originating, investing and managing middle-market commercial real estate loans and other commercial real estate, or 'CRE,' related investments.
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- Amid high times for private-equity, Ares Management is prepping the largest IPO of an alternative asset manager since Carlyle Group went public two years ago, reports Bloomberg. Based in L.A., the firm has $74B in AUM. Its CEO Tony Ressler is an alumnus of Drexel Burnham and Apollo Global where he worked alongside Leon Black (his brother-in-law).
- Among Ares' portfolio is Ares Capital (ARCC) and Ares Commercial Real Estate (ACRE).
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Tuesday, Jan 710:11 AM| Comment!
- Ares Commercial Real Estate (ACRE +0.4%) originated six new loans in December totaling $339M in commitments and $258M of initial funding. About 60% of loans closed in December were for multifamily properties, with the remainder secured by office and industrial properties. All pay floating rate.
- For the year, ACRE originated or co-originated 22 new commitments totaling $875M. The principal lending portfolio as of Dec. 31 is $1.05B in outstanding principal.
- Co-CEO Todd Schuster: "We have made great progress in repositioning the ACRE Capital platform during our first full quarter of owning the business ... Although many of these accomplishments have not yet translated into our origination activity, important developments ... should enhance the business going forward."
- Press release
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Wednesday, Aug 72013, 8:58 AM|Wednesday, Aug 72013, 8:58 AM| Comment!
Wednesday, Jul 172013, 10:47 AMCommercial mortgage REITs draw the attention of JPMorgan (see mREITs earlier) after a 14% sector decline in Q2. "We do not feel the sell-off is warranted on the basis of fundamentals." Ares Commercial's (ACRE -0.9%) price target is cut to $15.50 from $17.50, but is reiterated an Overweight. Apollo Commerical (ARI +0.1%) is maintained a Neutral and $16.50. Blackstone Mortgage (BXMT +0.8%) is initiated Overweight with $28.50 target. |Wednesday, Jul 172013, 10:47 AM| Comment!
Monday, Jun 172013, 4:37 PMAres Commercial Real Estate (ACRE) announces an 18M share public offering the funds from which will go towards investments, debt repayment, the funding of existing loans, and general corporate purposes. Underwriters will have an option on up to 2.7M additional shares. Shares -3.95% AH. (PR) |Monday, Jun 172013, 4:37 PM| Comment!
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