Recent Updates — ACR-PD

On August 6, 2026, ACRES Commercial Realty Corp. completed its merger with external manager ACRES Capital Corp., transitioning from an externally-managed to an internally-managed REIT and terminating the existing management agreement for no additional consideration. The company issued approximately 7.5 million shares of common stock as merger consideration, resulting in 13,452,489 total shares outstanding. Concurrently, ACRES completed a private placement of $200 million in 8.625% Senior Secured Notes due July 31, 2031, secured by subsidiary capital stock and CRE assets. Proceeds will partially repay the maturing $150 million of 5.75% Senior Unsecured Notes. The company also assumed a $185 million credit facility with MassMutual maturing in 2033 at an 8.749% fixed rate. Employment agreements were executed for seven executive officers, including President Mark Fogel and CFO Eldron Blackwell. ACRES Commercial Realty Corp. is a public commercial mortgage REIT focused on originating and managing commercial real estate loans and equity investments.