ACRES in the News
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March 30, 2021
ACRES Funds $13.3M Loan for Los Angeles Multifamily Development
LOS ANGELES – (March 30, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated a $13.3 million loan to fund the construction of 636 North Juanita Avenue (the “Property”), a 33-unit, luxury multifamily development located in the Silver Lake area of Los Angeles, California. The […]
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March 26, 2021
ACRES Capital Originates $24M Loan to Construct Savannah, GA Multifamily Property
SAVANNAH, Ga. – (March 26, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated a $24 million loan to fund the construction and stabilization of The Lowe (the “Property”), a 135-unit multifamily rental community located at 1501 Montgomery Street in Savannah, Georgia’s historic Street Car […]
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March 8, 2021
ACRES Originates $62M Loan to Construct Phoenix-Area Rental Community
PHOENIX – (March 4, 2021) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated a $62 million loan to fund the construction and stabilization of Bungalows on Cotton Lane (the “Property”), a 336-unit rental community located at North Cotton Lane and West Orangewood Avenue in the Glendale, Arizona area, […]
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February 16, 2021
Exantas Capital Corp. Changes Name to ACRES Commercial Realty Corp. and Begins Trading Under Ticker Symbol ACR
3-for-1 Reverse Stock Split Effective WESTBURY, N.Y., February 16, 2021 /PRNewswire/ — ACRES Commercial Realty Corp. (NYSE:ACR) (the “Company”), focused on originating, holding and managing commercial real estate mortgage loans and other commercial real estate-related debt investments, announced today that its name change from “Exantas Capital Corp.” is effective. As of tomorrow, February 17, 2021, its common […]
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January 25, 2021
ACRES Originates $32.5M Loan to Construct Student-Housing Project Near University at Buffalo
AMHERST, N.Y. – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated a $32.5 million loan to fund the construction and stabilization of Auden Buffalo (the “Property”), a student-housing building located at 2915-2949 North Forest Road in Amherst, New York, just one mile from The State University of New […]
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December 11, 2020
ACRES Capital Originates $28M Construction Loan for Apartment Community Near Phoenix
MARICOPA, ARIZ. — ACRES Capital has originated a $28 million loan for the construction and stabilization of Bungalows on Bowlin, a single-story multifamily property located at Bowlin Road and John Wayne Parkway in Maricopa. Cavan Cos., a Scottsdale, Arizona-based real estate developer, is the borrower and has developed multiple Bungalow-branded projects across the Phoenix area. […]
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December 10, 2020
ACRES Capital Originates $28M Loan to Construct Phoenix-Area Rental Community
MARICOPA, Ariz. – (December 8, 2020) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated an approximately $28 million loan to fund the construction and stabilization of Bungalows on Bowlin (the “Property”), a 196-unit, single-story rental community located at Bowlin Road and John Wayne Parkway in […]
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December 9, 2020
ACRES funds $28M loan for single family rental development
New York-based ACRES Capital Corp. has originated an approximately $28 million loan to fund the construction and stabilization of Bungalows on Bowlin, a 196-unit, single-story rental community in Maricopa, Arizona. The loan is provided to sponsor Cavan Companies, an innovator in real estate development that has completed multiple bungalow projects in the Phoenix metropolitan statistical […]
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December 8, 2020
ACRES Capital Lends $28M in Construction Debt for Phoenix-Area ‘Bungalows’
Scottsdale, Ariz.-based developer and investor Cavan Companies has nabbed $28 million in construction debt from ACRES Capital to fund its build-out of another one of its “bungalows” rental complex projects in Arizona’s Maricopa County, Commercial Observer has learned. Long Island, N.Y.-based, middle-market lender ACRES originated the loan for Cavan to construct and subsequently stabilize Bungalows on Bowlin — a 196-unit rental […]
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December 8, 2020
ACRES Lends $28Mln for Construction of Bungalow Apartments in Arizona
ACRES Capital Corp. has provided $28 million of financing for the construction of the 196-unit Bungalows on Bowlin apartment property in Maricopa, Ariz. The property is being developed by Cavan Cos. of Scottsdale, Ariz., on a 17-acre parcel at Bowlin Road and John Wayne Parkway, some 30 miles south of Phoenix Sky Harbor International Airport. […]
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