Pipeline of High-Quality Investments
ACRES Commercial Realty Corp. continues to develop a pipeline of high-quality investments, actively managing the portfolio, and focusing on growing earnings and book value for shareholders.
New Financing Facility with JPMorgan
Closed a new $940 million financing facility with JPMorgan, providing a 2-year reinvestment period for reinvestment of principal proceeds from asset repayments into qualifying replacement assets.
Loan Sales and Portfolio Health
Sold a $20.6 million loan at par and another loan with a minor loss, demonstrating proactive asset management.
Decreased Risk in Loan Portfolio
The number of loans rated 4 or 5 decreased from 12 to 11, indicating improved risk ratings.
Strong Pipeline and Market Opportunities
The investment pipeline is strong, with expectations of net portfolio growth between $300 million and $500 million despite payoffs.