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ACRES in the News

  • 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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  • November 5, 2020

    ACRES Capital Originates $16M Loan to Construct Multifamily New York City Project

    NEW YORK, N.Y. – (November 5, 2020) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated a $16 million loan to fund the construction of 653-655 Mace Avenue (the “Property”), an approximately 57,000-square-foot multifamily building with community space and parking located in the desirable Allerton section […]

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  • October 8, 2020

    ACRES Capital Originates $33M Loan to Construct, Stabilize Mixed-Use Pittsburgh Project

    PITTSBURGH, Pa. – (October 8, 2020) – ACRES Capital Corp. (together with its subsidiaries, “ACRES”), a leading commercial real estate middle-market lender, has originated an approximately $33 million loan to fund the construction and stabilization of 5803 Centre Avenue (the “Property”), a 161-unit multifamily property, which includes 6,000 square feet of ground-floor retail in the […]

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  • August 3, 2020

    Exantas Capital Corp. Announces Acquisition of Management Contract from C-III Capital Partners by ACRES Capital Corp. and $375 Million Financing from MassMutual and Oaktree Capital Management

    Exantas Capital Corp. Announces Acquisition of Management Contract from C-III Capital Partners by ACRES Capital Corp. and $375 Million Financing from MassMutual and Oaktree Capital Management New York, NY (August 3, 2020) – Exantas Capital Corp. (NYSE: XAN) (the “Company” or “Exantas”) announced today that ACRES Capital Corp. through its subsidiary, ACRES Capital, LLC (collectively, […]

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