Acres Commercial Realty Corp
acresreit.comAcres Commercial Realty Corp (NYSE: ACR) is a commercial real estate finance company that originates and holds floating-rate commercial real estate loans. It makes money primarily through net interest income, earning the spread between interest collected on CRE loans and the cost of its warehouse and secured financing facilities. The portfolio is concentrated in whole loans, with CRE whole loans generating $116.2 million in interest income on an average amortized cost of $1.51 billion at an average net yield of 7.67% for the year ended December 31, 2025. Multifamily collateral dominates the portfolio, representing 81.9% of total portfolio carrying value as of December 31, 2025. The company is externally managed and structured as a REIT, funding its loan book through repurchase facilities with counterparties including JPMorgan Chase Bank, N.A. and Morgan Stanley Mortgage Capital Holdings LLC, as well as $149.2 million average outstanding 5.75% Senior Unsecured Notes for the year ended December 31, 2025.
Products & Services
Floating-rate CRE whole loans (primary product), CRE mezzanine loans, CRE preferred equity loans, and direct equity investments in real estate acquired through foreclosure or deed-in-lieu of foreclosure.
Revenue Model
Net interest income from floating-rate CRE whole loans, mezzanine loans, and preferred equity loans, funded through secured warehouse facilities and unsecured notes. Loan origination fees and amendment fees provide supplemental income.
Customers & Markets
Commercial real estate borrowers, predominantly multifamily property sponsors. Multifamily collateral represented 81.9% of portfolio carrying value at December 31, 2025. Properties are located throughout the U.S., with the Southwest and Southeast NCREIF regions each exceeding 20% of total portfolio carrying value at December 31, 2025.
Geographic Exposure
United States only. Southwest and Southeast NCREIF regions each exceeded 20% of total portfolio carrying value as of December 31, 2025.
Financial Snapshot
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