ACRES Commercial Realty Corp.

For the period ended Dec 31, 2024. Filed Mar 17, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 17, 2025

ACR$11.04-5.2%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

	Years Ended December 31,
	2024	2023	2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$28,695	$21,848	$10,426
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses, net	4,790	10,902	12,295
Depreciation, amortization and accretion	9,691	5,191	7,491
Amortization of stock-based compensation	2,957	2,578	3,562
Gain on conversion of real estate	(8,637)	—	—
Gain on sale of real estate	(7,506)	(745)	(1,870)
Loss on the extinguishment debt	—	—	460
Equity in losses of unconsolidated subsidiaries	698	—	—
Changes in operating assets and liabilities
(Increase) decrease in accrued interest receivable, net of purchased interest	(2,949)	187	(6,138)
(Decrease) increase in management fee payable	(26)	284	337
(Decrease) increase in accounts payable and other liabilities	(3,455)	3,652	2,743
Decrease in lease liability	(2,081)	(151)	(94)
(Decrease) increase in accrued interest payable	(1,377)	885	985
(Increase) decrease in other assets	(1,415)	978	2,500
Net cash provided by operating activities	19,385	45,609	32,697
CASH FLOWS FROM INVESTING ACTIVITIES:
Principal fundings of CRE loans	(53,164)	(108,260)	(583,543)
Principal payments received on CRE loans	377,583	215,955	414,450
Investments in real estate	(44,744)	(38,192)	(81,749)
Investments in unconsolidated entities	(884)	—	—
Purchases of furniture and fixtures	(8)	—	(741)
Proceeds from sale of loans	—	77,203	—
Proceeds from sale of real estate	19,985	14,309	18,729
Principal payments received on loan - due from Manager	300	300	300
Net cash provided by (used in) investing activities	299,068	161,315	(232,554)
CASH FLOWS FROM FINANCING ACTIVITIES:
Offering costs	(82)	—	—
Repurchase of common stock	(7,884)	(7,410)	(9,128)
Proceeds from issuance of preferred shares (net of $101 of underwriting discounts and offering costs)	—	—	(101)
Proceeds from exercise of warrants	—	—	2
Repurchase of preferred stock	(2,157)	—	—
Proceeds from borrowings:
Senior secured financing facility	—	13,500	101,699
Warehouse financing facilities and repurchase agreements	19,151	11,755	405,743
Mortgages payable	36,334	25,069	18,710
Payments on borrowings:
Securitizations	(344,962)	(32,183)	(237,189)
Senior secured financing facility	(1,397)	(40,554)	(10,150)
Warehouse financing facilities and repurchase agreements	(31,745)	(171,742)	(145,972)
Convertible senior notes	—	—	(88,010)
Payment of debt issuance costs	(640)	(3,977)	(1,488)
Proceeds received from non-controlling interests	687	5,115	6,043
Distributions paid on preferred stock	(20,041)	(19,422)	(19,422)
Net cash (used in) provided by financing activities	(352,736)	(219,849)	20,737
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(34,283)	(12,925)	(179,120)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	91,886	104,811	283,931
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$57,603	$91,886	$104,811

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