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Slide #61. Ares Commercial Real Estate Corporation — EF&A Funding, L.L.C, d/b/a Alliant Capital LLC
Acquirer:
Ares Commercial Real Estate Corporation (NYSE:ACRE)
Acquiree:
EF&A Funding, L.L.C, d/b/a Alliant Capital LLC
Details:
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 (CRE) loans and related investments. Co. is externally managed by Ares Commercial Real Estate Management LLC, a subsidiary of Ares Management Corporation. Co.'s target investments primarily include senior mortgage loans, subordinated debt, preferred equity, mezzanine loans and other CRE investment opportunities, including commercial mortgage-backed securities.
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Hold (1.87 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: ACRE Stock Forecast Based on Zacks ABR data; powered by Xignite |