REITs M&A » By The Online Investor Staff, updated Fri., Apr. 19, 5:02 AM
Recent mergers and acquisitions in the REITs M&A category.
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Slide #27. Ares Commercial Real Estate Corporation — Alliant Capital LLC
Acquirer:
Ares Commercial Real Estate Corporation (NYSE:ACRE)
Acquiree:
Alliant Capital LLC
Details:
Ares Commercial Real Estate Corporation (NYSE:ACRE) announced today that it has closed its previously announced acquisition of EF&A Funding, L.L.C, d/b/a Alliant Capital LLC, for approximately $61 million through a combination of $52.9 million in cash and the issuance of 588,235 shares of ACRE stock with a value of $7.4 million based on the closing price of ACRE's common stock on August 30, 2013 of $12.65. Alliant Capital LLC is a financial services company focused on originating and servicing multi-family loans for various Government and Government-Sponsored Entities ("GSEs"), primarily through the Fannie Mae Delegated Underwriting and Servicing (DUS) program.
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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Avg. Broker Rec.
 
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Hold (1.87 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: ACRE Stock Forecast Based on Zacks ABR data; powered by Xignite |
