UNIONDALE, N.Y., Nov. 3, 2022
/PRNewswire/ -- ACRES Commercial Realty Corp. (NYSE: ACR)
("ACR" or the "Company"), a real estate investment trust
that is primarily focused on originating, holding and managing
commercial real estate mortgage loans and equity investments in
commercial real estate property through direct ownership and joint
ventures, today reported results for the quarter ended September 30, 2022. ACR's GAAP net income
allocable to common shares was $713,000, or $0.08
per share-diluted, for the quarter ended September 30, 2022.
"Mindful of the current environment, we remain vigilant to
deliver shareholders long-term value," said ACRES Commercial Realty
Corp. President & CEO Mark
Fogel. "We will continue to execute on our business plan by
selectively originating high-quality investments, actively managing
the portfolio, and continuing to focus on growing earnings and book
value for our shareholders."
ACR issued a full, detailed presentation of its results for the
quarter ended September 30, 2022 that
can be viewed at www.acresreit.com.
Earnings Call Details
ACR will host a live conference call on November 3, 2022 at 5:00
p.m. Eastern Time to discuss its third quarter 2022
operating results. The conference call can be accessed by dialing
1-877-300-8521 (U.S. domestic) or 1-412-317-6026 (International)
with the passcode 10171035 or from the investor relations section
of the Company's website at www.acresreit.com.
For those unable to listen to the live conference call, a replay
will be available on the Company's website and telephonically
through November 17, 2022 by dialing
1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International),
passcode 10171035.
About ACRES Commercial Realty Corp.
ACRES Commercial Realty Corp. is a real estate investment trust
that is primarily focused on originating, holding and managing
commercial real estate mortgage loans and equity investments in
commercial real estate properties 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 exclusively dedicated to nationwide middle market
commercial real estate lending with a focus on multifamily, student
housing, hospitality, industrial and office property in top U.S.
markets. For more information, please visit the Company's website
at www.acresreit.com or contact investor relations at
IR@acresreit.com.
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 our use of forward-looking terminology such as "may,"
"will," "continue," "expect," "intend," "anticipate," "estimate,"
"believe," "look forward" or other similar words or terms. Because
such statements include risks, uncertainties and contingencies,
actual results may differ materially from the expectations,
intentions, beliefs, plans or predictions of the future expressed
or implied by such forward-looking statements. Factors that can
affect future results are discussed in the documents filed by the
Company from time to time with the Securities and Exchange
Commission, including, without limitation, factors impacting
whether we will be able to maintain our sources of liquidity and
whether we will be able to identify sufficient suitable investments
to increase our originations. The Company undertakes no 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 unanticipated events, except as may be required
by law.
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SOURCE ACRES Commercial Realty Corp.