UNIONDALE, N.Y., March 5,
2025 /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 and year ended December 31, 2024. ACR's GAAP
net income allocable to common shares was $4.1 million or $0.52 per share-diluted, for the quarter ended
December 31, 2024.
"The ACRES team continues to proactively manage the investment
portfolio. As always, our primary objective is to protect and
enhance shareholder value," said ACRES Commercial Realty Corp.
President & CEO Mark Fogel. "In
2024, we saw a healthy amount of loans payoff and renewed
transactional activity in the real estate markets. Heading into
2025, we to intend to grow our loan portfolio by investing with
experienced sponsors in high-growth markets nationwide."
ACR issued a full, detailed presentation of its results for the
quarter and year ended December 31, 2024 that can be viewed at
www.acresreit.com.
Earnings Call Details
ACR will host a live conference call on March 6, 2025 at 10:00
a.m. Eastern Time to discuss its fourth quarter 2024
operating results. The conference call can be accessed by dialing
1-800-274-8461 (U.S. domestic) or 1-203-518-9814 (International),
Conference ID ACRES 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 March 20, 2025 by dialing
1-844-512-2921 (U.S. domestic) or 1-412-317-6671 (International),
with the passcode 11157750.
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.
