ACRES Commercial Realty Corp. Reports Results For Three Months Ended March 31, 2021
WESTBURY, NY, May 5, 2021 / PRNewswire / – ACRES Commercial Realty Corp. (NYSE: ACR) (“ACR” or the “Company”), a real estate investment trust primarily focused on the issuing, holding and management of commercial real estate mortgage loans and other commercial real estate-related debt investments that have expired today results three months reported March 31, 2021. ACR’s common stock GAAP net income was $ 10.5 million, or $ 1.03 per share diluted during the three months ended March 31, 2021.
“After restarting lending in late 2020, we are pleased with our ongoing progress in lending $ 144 million of commercial real estate loans in the first quarter, “stated the chief executive officer and president of ACR Mark Fogel. “We expect this momentum to continue as we continue to see a wealth of investment opportunities while remaining selective. Proactive asset management gives us a healthy loan portfolio and solid balance sheet and liquidity position to support our growth strategy support. “
ACR issued a full detailed presentation of its results for the past three months March 31, 2021which can be viewed at www.acresreit.com.
Details of the results call
ACR will host a live conference call May 5, 2021 at the 5:00 p.m. Eastern Time Discuss the operating results for the first quarter of 2021. The conference call can be accessed by calling 1-877-407-0789 (Domestic in the US) or 1-201-689-8562 (International) with passcode 13718962, or by visiting the Investor Relations section of the company’s website at www. Choose acresreit.com. For those unable to eavesdrop on the live conference call, a recording will be available on the company’s website and over the phone May 19, 2021 by dialing 1-844-512-2921 (domestic in the US) or 1-412-317-6671 (international), passcode 13718962.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust primarily focused on the issuing, holding and management of commercial real estate mortgage loans and other commercial real estate-related debt. The company is externally owned by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender devoted solely to nationwide CRE lending for the middle class, with a focus on multi-family, student housing, hospitality, industrial and office real estate, led US markets. Further information is available on the company’s website at www.acresreit.com or from Investor Relations at [email protected].
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by the use of forward-looking terminology such as “may,” “will,” “continue,” “expect,” “intend,” “anticipate,” “estimate,” “believe”. Because such statements contain risks, uncertainties and contingent liabilities, actual results could differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements Factors that could affect future results will be discussed in the Company’s filings from time to time with the Securities and Exchange Commission, including, without limitation, factors that affect our ability to do so to maintain our sources of liquidity and whether we are able to identify sufficient suitable investments to increase our provenance. The company assumes no obligation to update or revise any forward-looking statements to reflect new or changing information or events after the date of this document or to reflect the occurrence of unexpected events, unless required by law.
SOURCE ACRES Commercial Realty Corp.
similar links
https://www.acresreit.com/