ACRES Commercial Realty Corp.

Listed Company

ACR-PDCIK 0001332551NYSEAcceleratedSmaller ReportingReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$79.95M

Net Income

$27.98M

Total Assets

—

Equity

—

Shares Out

7.13M

Op. Cash Flow

$4.10M

Business

ACRES Commercial Realty Corp. is a real estate finance company organized as a REIT that originates, holds and manages commercial real estate mortgage loans and equity investments. It offers floating-rate first mortgage whole loans, senior and subordinate loan tranches (A-notes and B-notes), mezzanine financing, preferred equity, direct real estate equity investments, and related asset and portfolio management services. The company is externally managed by ACRES Capital, which provides origination, underwriting, asset management and securitization/financing capabilities. It operates nationwide with a focus on middle‑market commercial real estate in major U.S. markets and distributes investments through direct lending, syndications, participations, joint ventures and securitization channels.

Summary from filing dated 2025-03-17

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
CRE loans	118	155	184	126	101
Other	1	2	3	735,000	97,000
Total interest income	119	157	187	126	101
Interest expense	86	116	131	82	—
Net interest income	33	41	57	44	39
Real estate income	47	42	34	31	11
Other revenue	133,000	148,000	145,000	91,000	65,000
Total revenues	80	83	91	75	50
General and administrative	11	11	11	11	12
Real estate expenses	51	47	39	34	11
Management fees - related party	6	6	7	7	6
Equity compensation - related party	2	3	3	4	2
Corporate depreciation and amortization	78,000	57,000	91,000	85,000	94,000
(Reversal of) provision for credit losses, net	−8	5	11	12	—
Total operating expenses	64	72	70	67	9
Net interest and other revenues less operating expenses	16	12	21	8	41
Equity in losses of unconsolidated subsidiaries	−2	−912,000	0	0	—
Gain on conversion of real estate	0	9	0	0	—
Gain on sale of investment in real estate	12	8	745,000	2	0
Other income	2	2	527,000	2	822,000
Total other income	11	17	1	3	−7
INCOME BEFORE TAXES	28	29	22	11	34
Income tax benefit (expense)	83,000	−126,000	−97,000	−336,000	0
NET INCOME	28	29	22	10	34
Net income allocated to preferred shares	−21	−20	−19	−19	−16
Carrying value in excess of consideration paid for preferred shares	0	242,000	0	0	—
Net (income) loss allocable to non-controlling interests, net of taxes	−7	572,000	542,000	197,000	0
Net income allocable to common shares	239,000	9	3	−9	18
NET INCOME PER COMMON SHARE - BASIC	0.03	1.19	0.35	−1	1.85
NET INCOME PER COMMON SHARE - DILUTED	0.03	1.15	0.35	−1	1.85
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC	7	8	8	9	10
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - DILUTED	7	8	9	9	10

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	84	57	83	66	36
Restricted cash	2	890,000	8	39	248
Accrued interest receivable	27	15	12	12	6
CRE loans	1,830	1,487	1,857	2,058	1,883
Less: allowance for credit losses	−20	−33	−29	−19	−9
CRE loans, net	1,810	1,455	1,828	2,039	1,874
Loan receivable - due from Manager	10	11	11	11	—
Loan held for sale	0	11	0	—	—
Investments in unconsolidated entities	29	22	2	2	2
Properties held for sale	91	201	63	54	18
Investments in real estate	76	77	158	121	59
Right of use assets	20	20	20	20	6
Intangible assets	6	7	8	9	4
Other assets	7	6	4	4	5
Total assets	2,162	1,881	2,196	2,377	2,284
Accounts payable and other liabilities	7	12	14	10	7
Management fee payable - related party	0	540,000	584,000	898,000	—
Accrued interest payable	7	7	8	7	6
Borrowings	1,545	1,360	1,676	1,867	1,814
Lease liabilities	46	45	44	44	4
Distributions payable	3	4	3	3	3
Accrued tax liability	8,000	27,000	121,000	113,000	1,000
Liabilities held for sale	3	3	3	3	1
Total liabilities	1,612	1,432	1,750	1,935	1,836
Common stock, par value $0.001: 41,666,666 shares authorized; 6887451 and 7,634,004 shares issued and outstanding (including 328,586 and 574,538 unvested restricted shares)	7,000	8,000	8,000	9,000	9,000
Additional paid-in capital	1,142	1,163	1,170	1,174	1,180
Accumulated other comprehensive loss	−2	−3	−5	−6	−8
Distributions in excess of earnings	−720	−720	−729	−732	−724
Total stockholders equity	421	439	436	435	448
Non-controlling interests	130	11	10	6	—
Total equity	551	450	446	441	448
TOTAL LIABILITIES AND EQUITY	2,162	1,881	2,196	2,377	2,284

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
(Reversal of) provision for credit losses, net	−8	5	11	12	−21
Depreciation, amortization and accretion	10	10	5	7	14
Amortization of stock-based compensation	2	3	3	4	2
Equity in losses of unconsolidated subsidiaries	2	698,000	0	0	—
(Increase) decrease in accrued interest receivable, net of purchased interest	−13	−3	187,000	−6	1
(Decrease) increase in management fee payable	−540,000	−26,000	284,000	337,000	119,000
Increase (decrease) in accounts payable and other liabilities	−197,000	−3	4	3	4
Decrease in lease liabilities	−2	−2	−151,000	−94,000	−39,000
(Decrease) increase in accrued interest payable	−173,000	−1	885,000	985,000	−39,000
(Increase) decrease in other assets	−2	−1	978,000	3	4
Net cash provided by operating activities	4	19	46	33	41
Principal fundings of CRE loans	−753	−53	−108	−584	—
Principal payments received on CRE loans	341	378	216	414	1,009
Investments in real estate	−3	−45	−38	−82	−29
Proceeds from sale of investments in real estate	122	20	14	19	0
Investments in unconsolidated entities	−9	−884,000	0	0	—
Purchases of furniture and fixtures	−165,000	−8,000	0	−741,000	−61,000
Proceeds from sale of CRE loans	78	0	77	0	0
Principal payments received on loan - due from Manager	300,000	300,000	300,000	300,000	—
Net cash (used in) provided by investing activities	−224	299	161	−233	−391
Offering costs	0	−82,000	0	0	—
Repurchase of common stock	−22	−8	−7	−9	−18
Repurchase of preferred stock	0	−2	0	0	—
Senior secured financing facility	0	0	14	102	173
CRE - term warehouse financing facilities	552	19	12	—	—
Mortgages payable	1	36	25	19	0
CRE - term reinvestment financing facility	914	0	0	—	—
Securitizations	−865	−345	−32	−237	−802
Senior secured financing facility	0	−1	−41	−10	−206
CRE - term warehouse financing facilities	−175	−32	−172	—	—
Mortgages payable	−61	0	0	—	—
CRE - term reinvestment financing facility	−183	0	—	—	—
Payment of debt issuance costs	−4	−640,000	−4	−1	−21
Distributions to non-controlling interests	−12	—	—	—	—
Proceeds received from non-controlling interests	125	687,000	5	6	0
Distributions paid on preferred stock	−21	−20	−19	−19	−14
Net cash procided by (used in) financing activities	248	−353	−220	21	566
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	28	−34	−13	−179	216

Filings

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