Ares Commercial Real Estate Corp
For the period ended Mar 31, 2025. Filed May 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 7, 2025
ACRE$3.56-3.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net income (loss) | $9,345 | $(12,323) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Amortization of deferred financing costs | 1,198 | 1,118 |
| Accretion of discounts, deferred loan origination fees and costs | (1,283) | (1,254) |
| Stock-based compensation | 1,050 | 1,284 |
| Depreciation and amortization of real estate owned | 2,182 | 786 |
| Provision for (reversal of) current expected credit losses, net | (5,340) | (22,269) |
| Realized losses on loans | — | 45,726 |
| Change in unrealized losses on loans held for sale | — | (995) |
| Changes in operating assets and liabilities: | ||
| Other assets | 1,561 | (493) |
| Due to affiliate | 404 | 146 |
| Other liabilities | (1,107) | (348) |
| Net cash provided by (used in) operating activities | 8,010 | 11,378 |
| Investing activities: | ||
| Issuance of and fundings on loans held for investment | (7,011) | (12,003) |
| Principal collections and cost-recovery proceeds on loans held for investment | 305,443 | 106,806 |
| Proceeds from sale of loans held for sale | — | 38,981 |
| Receipt of origination and other loan fees | 234 | 232 |
| Principal repayment of available-for-sale debt securities | 88 | — |
| Purchases of capitalized additions to real estate owned | (15) | — |
| Net cash provided by (used in) investing activities | 298,739 | 134,016 |
| Financing activities: | ||
| Proceeds from secured funding agreements | 114,797 | 12,781 |
| Repayments of secured funding agreements | (28,860) | (22,299) |
| Repayments of secured term loan | (10,000) | — |
| Payment of secured funding costs | (1,924) | (370) |
| Repayments of debt of consolidated VIEs | (304,049) | (128,226) |
| Dividends paid | (13,924) | (18,221) |
| Net cash provided by (used in) financing activities | (243,960) | (156,335) |
| Change in cash, cash equivalents and restricted cash | 62,789 | (10,941) |
| Cash, cash equivalents and restricted cash, beginning of period | 66,294 | 110,459 |
| Cash, cash equivalents and restricted cash, end of period | $129,083 | $99,518 |
| Reconciliation of cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $125,496 | $99,518 |
| Restricted cash | 3,587 | — |
| Total cash, cash equivalents and restricted cash shown in the Consolidated Statements of Cash Flows | $129,083 | $99,518 |
| Supplemental disclosure of noncash investing and financing activities: | ||
| Dividends declared, but not yet paid | $8,353 | $13,802 |
| Other receivables related to consolidated VIEs | $4,262 | $6,539 |
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