ARES COMMERCIAL REAL ESTATE CORPORATION (NYSE:ACRE) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On February21, 2019, the registrant issued a press release declaring its first quarter 2019 dividend and announcing its financial results for the quarter and year ended December31, 2018. The text of the press release is included as Exhibit99.1 to this Form8-K.
The information disclosed under this Item 2.02, including Exhibit99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934 and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
|
ExhibitNumber |
Description |
|
Press Release, dated February 21, 2019 |
Ares Commercial Real Estate Corp Exhibit
EX-99.1 2 q4-18exhibit991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS FOURTH QUARTER AND FULL-YEAR 2018 RESULTSFourth quarter GAAP net income of $10.0 million or $0.35 per diluted common share and Core Earnings(1) of $10.9 million or $0.38 per diluted common shareFull-year 2018 GAAP net income of $38.6 million or $1.35 per diluted common share andCore Earnings(1) of $40.8 million or $1.43 per diluted common share- Subsequent to year ended December 31,…
To view the full exhibit click here
About ARES COMMERCIAL REAL ESTATE CORPORATION (NYSE:ACRE)
Ares Commercial Real Estate Corporation is a specialty finance company. The Company is focused on directly originating, managing and servicing a portfolio of commercial real estate (CRE) debt-related investments for its own account. It operates in two segments: principal lending and mortgage banking. Its target investments include senior loans, bridge loans, subordinated debt, preferred equity and other CRE investments. The Company is also engaged in the mortgage banking business through its subsidiary, ACRE Capital LLC (ACRE Capital). Its Principal Lending Business includes all business activities of the Company, which represents investments in real estate related loans and securities that are held for investment. In mortgage banking business, the Company directly originates long-term senior loans collateralized by multifamily and senior-living properties, and sells them to third parties pursuant to programs overseen by government agencies and government-sponsored enterprises.
