ACRE · Ares Commercial Real Estate Corporation
AI read · Neutral
The AI's read
The Charlotte sale and Newark loan repayment show ACRE is resolving some problem loans. The Chicago property is over 90% occupied, with leases averaging more than 7 years. But Chicago and Brooklyn made up 95% of loans rated 4 and 5. Distributable earnings per share also fell short of the dividend. Together, these facts leave the quarter mixed for ACRE.