ACRES Commercial Realty Corp.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
ACR$11.65-3.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS (1) | ||
| Cash and cash equivalents | $56,713 | $83,449 |
| Restricted cash | 890 | 8,437 |
| Accrued interest receivable | 14,655 | 11,783 |
| CRE loans | 1,487,392 | 1,857,093 |
| Less: allowance for credit losses | (32,847) | (28,757) |
| CRE loans, net | 1,454,545 | 1,828,336 |
| Loan receivable - due from Manager | 10,675 | 10,975 |
| Loan held for sale | 11,100 | — |
| Investments in unconsolidated entities | 21,857 | 1,548 |
| Properties held for sale | 201,125 | 62,605 |
| Investments in real estate | 76,608 | 157,621 |
| Right of use assets | 19,911 | 19,879 |
| Intangible assets | 6,988 | 7,882 |
| Other assets | 6,400 | 3,590 |
| Total assets | $1,881,467 | $2,196,105 |
| LIABILITIES (2) | ||
| Accounts payable and other liabilities | $11,817 | $13,963 |
| Management fee payable - related party | 540 | 584 |
| Accrued interest payable | 6,958 | 8,459 |
| Borrowings | 1,360,371 | 1,676,200 |
| Lease liabilities | 45,259 | 44,276 |
| Distributions payable | 3,607 | 3,262 |
| Accrued tax liability | 27 | 121 |
| Liabilities held for sale | 3,226 | 3,025 |
| Total liabilities | 1,431,805 | 1,749,890 |
| EQUITY | ||
| Preferred stock, par value $0.001: 10,000,000 shares authorized 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share; 4,800,000 and 4,800,000 shares issued and outstanding | 5 | 5 |
| Preferred stock, par value $0.001: 6,800,000 shares authorized 7.875% Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share; 4,507,857 and 4,607,857 shares issued and outstanding | 5 | 5 |
| Common stock, par value $0.001: 41,666,666 shares authorized; 7,634,004 and 7,878,216 shares issued and outstanding (including 574,538 and 416,675 unvested restricted shares) | 8 | 8 |
| Additional paid-in capital | 1,162,581 | 1,169,970 |
| Accumulated other comprehensive loss | (3,203) | (4,801) |
| Distributions in excess of earnings | (720,268) | (729,391) |
| Total stockholders’ equity | 439,128 | 435,796 |
| Non-controlling interests | 10,534 | 10,419 |
| Total equity | 449,662 | 446,215 |
| TOTAL LIABILITIES AND EQUITY | $1,881,467 | $2,196,105 |
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| (unaudited) | ||
| (1) Assets of consolidated variable interest entities ("VIEs") included in total assets above: | ||
| Restricted cash | $190 | $220 |
| Accrued interest receivable | 10,733 | 9,188 |
| CRE loans, pledged as collateral (3) | 1,115,163 | 1,466,463 |
| Loan held for sale | 9,469 | — |
| Other assets | 117 | 71 |
| Total assets of consolidated VIEs | $1,135,672 | $1,475,942 |
| (2) Liabilities of consolidated VIEs included in total liabilities above: | ||
| Accounts payable and other liabilities | $73 | $143 |
| Accrued interest payable | 2,111 | 3,828 |
| Borrowings | 862,804 | 1,204,569 |
| Total liabilities of consolidated VIEs | $864,988 | $1,208,540 |
(3) Excludes the allowance for credit losses.
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