ACRES Commercial Realty Corp.

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

About this filing

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

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III

Real Estate and Accumulated Depreciation

Initial Cost to Company · Gross Amount of Which Carried at Close of Period
Encumbrances · Land · Buildings and Improvements · Costs Capitalized Subsequent to Acquisition - Improvements · Land · Buildings and Improvements · Total · Accumulated Depreciation · Year of Construction · Date Acquired · Life on Which Depreciation in Latest Statements of Operations is Computed
Hotel property, Northeast region (held for sale) (1)(2)(3)		$16,567		$—		$30,944		$6,447		$—		$37,391		$37,391		$(2,823)	2000	November 2020	N/A
Unimproved land, Northeast region	N/A		14,203		—		2,204		14,203		2,204		16,407		—		N/A	November 2021	N/A
Student housing property, Southeast region (held for sale) (1)		80,113		15,976		19,114		85,785		15,976		104,899		120,875		(1,367)	2003/2024	April 2022	N/A
Hotel property, East North Central region (3)(4)		16,921		—		51,353		5,413		—		56,766		56,766		(5,578)	1982	April 2022	36.0 years
Office property, East North Central region (held for sale) (1)(2)	N/A		—		20,900		—		—		20,900		20,900		—		1896	June 2023	N/A
Office property, Southwest region (held for sale) (1)		—		—		18,299		(298)	—		18,001		18,001		—		1987	July 2024	N/A
Multifamily property, Southeast region (4)		—		979		8,090		23		979		8,113		9,092		(78)	1938	August 2024	40.0 years
Total		$113,601		$31,158		$148,700		$99,574		$31,158		$248,274		$279,432		$(9,846)

(1)

The property is being held for sale and is evaluated at the lower of cost or fair value.

(2)

The property was acquired through a deed in lieu of foreclosure transaction.

(3)

The property is included as collateral on our senior secured financing facility.

(4)

The life on which depreciation in latest statements of operations is computed was calculated as the weighted average of the useful lives of the building, site improvements and tenant improvements, which comprise the investments in the properties.

SCHEDULE III

Real Estate and Accumulated Depreciation - (Continued)

The following table rolls forward our gross investments in real estate and the related accumulated depreciation:

	Years Ended December 31,
	2024	2023	2022
Investments in Real Estate:
Balance at beginning of period	$219,943	$158,760	$75,989
Additions during period:
Acquisitions through deed-in-lieu of foreclosure	—	20,900	13,442
Acquisitions through foreclosure	27,368	—	-
Other acquisitions	—	—	86,444
Improvements, etc.	45,015	53,761	731
Deductions during period:
Other	(12,894)	(13,478)	(17,846)
Balance at close of period	$279,432	$219,943	$158,760
Accumulated Depreciation:
Balance at beginning of period	$(7,865)	$(3,464)	$(1,204)
Additions during period:
Depreciation expense	(2,747)	(4,401)	(2,260)
Deductions during period:
Other	766	-	-
Balance at close of period	$(9,846)	$(7,865)	$(3,464)

ContentsView on SEC.gov

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