0001104659-15-001987.txt : 20150113 0001104659-15-001987.hdr.sgml : 20150113 20150113081445 ACCESSION NUMBER: 0001104659-15-001987 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150113 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150113 DATE AS OF CHANGE: 20150113 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ares Commercial Real Estate Corp CENTRAL INDEX KEY: 0001529377 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 453148087 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35517 FILM NUMBER: 15523405 BUSINESS ADDRESS: STREET 1: ONE NORTH WACKER DRIVE STREET 2: 48TH FLOOR CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312.252.7500 MAIL ADDRESS: STREET 1: ONE NORTH WACKER DRIVE STREET 2: 48TH FLOOR CITY: CHICAGO STATE: IL ZIP: 60606 8-K 1 a15-2254_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 


 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): January 13, 2015

 

Ares Commercial Real Estate Corporation

(Exact name of registrant as specified in its charter)

 

Maryland

 

001-35517

 

45-3148087

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

One North Wacker Drive, 48th Floor, Chicago, IL

 

60606

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (312) 252-7500

 

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 7.01 Regulation FD Disclosure.

 

On January 13, 2015, Ares Commercial Real Estate Corporation (the “Company”) issued a press release discussing its activities during the fourth quarter of 2014. The text of the press release is included as Exhibit 99.1 to this Form 8-K.

 

The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 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:

 

Exhibit
Number

 

Exhibit Description

99.1

 

Press Release, dated January 13, 2015

 

2



 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date:       January 13, 2015

 

 

ARES COMMERCIAL REAL ESTATE CORPORATION

 

 

 

 

By:

/s/ Anton Feingold

 

Name:

Anton Feingold

 

Title:

Vice President and Secretary

 

3


EX-99.1 2 a15-2254_1ex99d1.htm EX-99.1

Exhibit 99.1

 

 

ARES COMMERCIAL REAL ESTATE CORPORATION ANNOUNCES FOURTH QUARTER ACTIVITY

 

$556 million of Total Commitments During the Fourth Quarter

 

$313 million of Commitments from Mortgage Banking

 

CHICAGO, IL — January 13, 2015 — Ares Commercial Real Estate Corporation (NYSE: ACRE) announced fourth quarter origination and portfolio activity.

 

ACRE’s Principal Lending segment originated $73 million in senior loans and through a joint venture managed by an affiliate of ACRE, participated in a $170 million preferred equity investment in an entity whose assets are comprised of multifamily, student housing medical office and self-storage properties. ACRE invested $89 million in the joint venture, representing a majority stake. The remainder of the joint venture is owned by a well-known institutional investor whose minority investment allowed ACRE to enhance its portfolio diversification and further optimize its availability of capital.

 

In addition, ACRE Capital LLC, ACRE’s wholly-owned Mortgage Banking subsidiary, originated $313 million of new loans during the fourth quarter of 2014.

 

“The diversity of originations by property and investment type during the fourth quarter, particularly the preferred equity investment, underscores the expanding breadth of our platform capabilities,” said Todd Schuster, President and Chief Executive Officer of ACRE. “Furthermore, our Mortgage Banking segment exceeded our expectations for the quarter, supported by our repositioning efforts undertaken over the past year, our expanded product suite and a seasonally stronger market.”

 

At year-end 2014, ACRE’s Principal Lending portfolio, excluding non-controlling interests, totaled approximately $1.4 billion in outstanding principal with 83% of the portfolio comprised of senior loans and 89% paying floating rates of interest based on LIBOR, in both cases as measured by period end outstanding principal balances.

 

Our direct origination focus and sophisticated structuring and distribution capabilities have enabled us to build a high quality investment portfolio,” said Mr. Schuster. “As we head into 2015, our portfolio remains first lien oriented, geographically diverse and we believe well positioned to generate additional earnings should LIBOR increase.”

 

About Ares Commercial Real Estate Corporation

 

Ares Commercial Real Estate Corporation is a specialty finance company primarily engaged in principal lending and mortgage banking of commercial real estate investments. Through its national direct origination platform, Ares Commercial Real Estate Corporation provides a broad offering of flexible

 



 

financing solutions for commercial real estate owners and operators. Through ACRE Capital LLC, its Mortgage Banking segment, it originates and services multifamily residential mortgage loans, senior housing and healthcare facilities by utilizing the platforms of Fannie Mae, Freddie Mac and HUD. Ares Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by a subsidiary of Ares Management, L.P. (NYSE: ARES), a publicly traded, global alternative asset manager with approximately $80 billion of assets under management as of September 30, 2014. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference herein.

 

Forward-Looking Statements

 

Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which relate to future events or the Company’s future performance or financial condition.  These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties.  Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including the risks described from time to time in the Company’s filings with the Securities and Exchange Commission. Ares Commercial Real Estate Corporation undertakes no duty to update any forward-looking statements made herein.

 

Contacts:

 

Ares Commercial Real Estate Corporation

 

Carl Drake or John Stilmar, 888-818-5298

 


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