ACRES Commercial Realty Corp. Completes Merger, Internalization, and Notes Offering
ACRES Commercial Realty Corp. (ACR) has completed its acquisition of ACRES Capital Corp. and transitioned to an internally-managed REIT, aiming to streamline operations and drive stakeholder value. The company also secured $200 million in new debt to refinance existing notes and fund general corporate needs.
* ACRES Commercial Realty Corp. ($ACR+WL) completed a merger and internalization, and issued $200 million in new notes, indicating strategic restructuring.