ACRES COMMERCIAL REALTY CORP. ANNOUNCES RESULTS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2021
UNIONDALE, NY, March 3, 2022 /PRNewswire/ — ACRES Commercial Realty Corp. (NYSE: ACR) (“ACR”, “ACRES Commercial Realty” or the “Company”)a real estate investment trust that is primarily focused on originating, holding and managing commercial real estate mortgages and equity investments in commercial real estate through direct ownership and joint ventures, announced today its results for the three months and year ended December 31, 2021 ACR’s GAAP net income attributable to common stock was $7.3 millionWhere $0.76 per diluted share, and $18.0 millionWhere $1.85 per diluted share, during the quarter and year ended December 31, 2021, respectively.
“2021 was a banner year for ACRES Commercial Realty, with the highest number of loans and securitization closings in a fiscal year, each on $1.5 billionin its history,” said the CEO and President of ACR Marc Fogel. “Along with these successes, the company’s loan portfolio is strong and ready to grow thanks to the attractive financing options available, which our team closed during the year. With growth in the loan portfolio, as well as the potential to enhance ACR returns with real estate investments, we remain focused on maximizing profits to grow book value and deliver a long-term shareholder value. »
ACR has released a full and detailed presentation of its results for the three months and year ended December 31, 2021, which can be viewed at www.acresreit.com.
Revenue Call Details
RAC will host a live conference call on March 3, 2022 at 5:00 p.m. Eastern Time to discuss its fourth quarter and fiscal 2021 operating results. The conference call can be accessed by dialing 1-877-407-0792 (U.S.) or 1-201-689-8263 (International) with access code 13727272 or from the Investor Relations section of the Company’s website at www.acresreit.com. For those unable to listen to the conference call live, a replay will be available on the Company’s website and by phone via March 17, 2022 by dialing 1-844-512-2921 (U.S.) or 1-412-317-6671 (international), passcode 13727272.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust primarily focused on originating, holding and managing commercial real estate mortgages and equity investments in commercial real estate through direct ownership and joint ventures. The company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp., a private commercial real estate lender dedicated exclusively to middle-market commercial real estate lending nationwide, with an emphasis on multi-family properties. , student housing, hotels, industrial and office properties. in major US markets. For more information, please visit the Company’s website at www.acresreit.com or contact Investor Relations at [email protected]
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 our use of forward-looking words such as “may”, “will”, “continue”, “expect”, “intend”, “anticipate”, “estimate”. , “believes,” “look forward” or other similar words or terms. Because these statements involve risks, uncertainties, and contingencies, actual results may differ materially from expectations, intentions, beliefs, plans, or predictions. expressed or implied by such forward-looking statements. Factors that may affect future results are discussed in documents filed by the Company from time to time with the Securities and Exchange Commission, including, without limitation , factors affecting our ability to maintain our sources of liquidity and our ability to identify sufficient suitable investments to increase our originations. obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unforeseen events, except as required by law.
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SOURCE ACRES Commercial Realty Corp.