Ares Commercial Real Estate extends BofA bridge loan by one year

By Marisa Wong

Morgantown, W.Va., June 1 – Ares Commercial Real Estate Corp.’s subsidiary, ACRC Lender B LLC, amended its $50 million bridge loan with Bank of America, NA to extend the period for requesting loans to May 25, 2017, according to an 8-K filing with the Securities and Exchange Commission.

In addition, the final maturity date of the facility was extended by 12 months to May 25, 2020.

The company entered into the bridge loan warehousing credit and security agreement on May 29, 2015 and completed the amendment on May 26.

Ares Commercial is a Chicago-based specialty finance company that invests in and manages middle-market commercial real estate loans and other commercial real estate investments.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.