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Slide #61. Ares Commercial Real Estate Corporation — EF&A Funding, L.L.C, d/b/a Alliant Capital LLC
Ares Commercial Real Estate Corporation (NYSE:ACRE)
EF&A Funding, L.L.C, d/b/a Alliant Capital LLC
Ares Commercial Real Estate Corporation (NYSE:ACRE) announced today that it has entered into a definitive agreement to acquire EF&A Funding, L.L.C, d/b/a Alliant Capital LLC from The Alliant Company, LLC and Alliant, Inc., for approximately $62.8 million through a combination of cash and stock. Under the terms of the transaction, Alliant Capital LLC is expected to become a wholly owned taxable REIT subsidiary of ACRE. Alliant Capital, Ltd., which on a national scale provides tax credit equity for the financing and development of affordable housing, is not included in the acquisition and will remain a part of The Alliant Company.
Ares Commercial Real Estate is a holding company. Through its subsidiaries, Co. is a finance company primarily engaged in originating and investing in commercial real estate loans and related investments. Through Ares Commercial Real Estate Management LLC, an investment adviser and a subsidiary of Ares Management Corporation, it has investment personnel located across United States and Europe who directly source new loan opportunities for Co. with owners, operators and sponsors of commercial real estate (CRE) properties. Co.'s target investments primarily include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investments.
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Buy (3.25 out of 4)
(ranked higher than approx. 50% of all stocks covered)
Based on Zacks ABR data;
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