UNIONDALE, N.Y., March 16,
2023 /PRNewswire/ -- ACRES Capital Corp., a
nationwide commercial real estate middle-market lender along with
ACRES Commercial Realty Corp. (NYSE: ACR), a REIT which is
externally managed by a subsidiary of ACRES Capital
Corp., announced its partnership with Project Destined. ACRES'
partnership will support Project Destined and its mission to
provide training in financial literacy, entrepreneurship, and real
estate to students from underserved communities.
ACRES welcomed 15 students to work alongside six members of the
staff to gain real-world experience and mentorship in the areas of
commercial real estate lending, asset management, finance, and
legal. The students attend a cross-section of colleges and
universities across the country, including New
York University, Baruch College,
Cornell University, The City College of New York, St.
Francis College, Brooklyn
College, Stony Brook
University, Hunter College, and
University of Florida.
"Partnering with Project Destined and collaborating with these
exceptional students is a natural extension of ACRES' commitment to
developing the next wave of real estate industry
leaders," said ACRES Chief Executive Officer and President
Mark Fogel. "We are honored to be a
part of this exciting initiative and look forward to providing an
enriching and rewarding experience for all involved."
Project Destined leverages a work-based learning approach where
students join executives to evaluate actual commercial real estate
deals in their community and compete in a pitch competition to
industry leaders to earn scholarships. ACRES' mentors will prepare,
engage, and guide students one-on-one to help them develop a range
of fundamentals—including financial, technical, presentation, and
leadership skills—designed to aid them in obtaining internships,
certifications, and full-time employment, launching their careers
in commercial real estate.
"We are excited to partner with ACRES to introduce this
incredible group of students to potential careers in commercial
real estate," said Project Destined Co-Founder Cedric Bobo. "Our industry provides a broad
range of career alternatives that also enable you to impact your
community. Our partnership with ACRES will ensure that these
students are aware of these opportunities and ready to take on that
challenge."
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 ("CRE") mortgage loans and equity
investments in commercial real estate property 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 CRE 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/acres-and-project-destined-announce-strategic-partnership-to-mentor-underserved-students-to-become-the-next-generation-of-commercial-real-estate-leaders-301774538.html
SOURCE ACRES Commercial Realty Corp.