ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02
| Termination of a Material Definitive Agreement. |
The information disclosed below in Item 5.02 is incorporated
herein by reference.
| Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Effective April 4, 2017, Charles S. Roberts (Mr. Roberts)
resigned from the Board of Directors of ACRE Realty Investors
Inc. (the Company).
As a result of his resignation from the Board of Directors of the
Company, all rights and obligations of Mr. Roberts under the
Governance and Voting Agreement, dated January 30, 2015, by and
among the Company, A-III Investment Partners LLC, and Mr. Roberts
(the Governance and Voting Agreement) were terminated upon
his resignation. The Governance and Voting Agreement was
previously disclosed as Exhibit 10.2 to the Companys Current
Report on Form 8-K filed with the SEC on January 30, 2015.
About ACRE REALTY INVESTORS INC. (NYSEMKT:AIII)
ACRE Realty Investors Inc., formerly Roberts Realty Investors, Inc., is a commercial real estate investment and operating company. The Company is focused on commercial real estate investments. The Company operates through the land segment, which consists of a single tract of land, including cash and cash equivalents, other assets and general and administrative expenses. The Company may invest in multifamily, office, mixed-use office, retail, industrial, healthcare or lodging properties, as well as preferred equity or debt instruments secured by mortgages on these types of properties, mezzanine loans secured by pledges of equity interests in entities that own these types of properties or other forms of subordinate debt in connection with these types of properties. The Company conducts all of its operations and owns all of its assets in and through ACRE Realty LP, formerly Roberts Properties Residential, L.P. (Operating Partnership). ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) Recent Trading Information
ACRE REALTY INVESTORS INC. (NYSEMKT:AIII) closed its last trading session down -0.02 at 1.20 with 14,481 shares trading hands.
