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Ares Commercial Real Estate Corporation focuses on accrued interest and REO asset resolution

The Motley Fool · ·by G4L

ACRE
ACRE Ares Commercial Real Estate Corp
$3.65 +7.35%
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  1. 1Ares Commercial Real Estate Corporation has prioritized the resolution of approximately $160 million in accrued interest and REO assets.
  2. 2Ares Commercial Real Estate Corporation recorded a net gain of approximately $7 million above book value from the sale of Charlotte office assets in the third quarter.
  3. 3Ares Commercial Real Estate Corporation's total office loans and office REO investments reached $444 million in the third quarter.

So what's the key point?

Ares Commercial Real Estate Corporation is focusing on collecting unpaid interest and managing real estate assets. While the company made a $7 million profit from selling office assets, its related investments total $444 million.

Source The Motley Fool · View original ↗

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