Ares Commercial Real Estate

Ares Commercial Real Estate Corporation is a specialty finance company that originates and invests in commercial real estate (CRE) loans and related investments in the United States. It provides loan opportunities for owners, operators, and sponsors of CRE properties. Its investments include senior mortgage loans, subordinate debt, preferred equity products, mezzanine loans, and other CRE investments such as commercial mortgage-backed securities. The company has elected and qualified to be taxed as a real estate investment trust under the Internal Revenue Code of 1986, was incorporated in 2011, and is based in New York, New York.

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Ares Commercial Real Estate COO Tae-Sik Yoon to Step Down After 14 Years

Ares Commercial Real Estate announced that Chief Operating Officer Tae-Sik Yoon will transition from his day-to-day executive role to serve as a senior adviser to Ares management after 14 years with the firm. The company reported second-quarter GAAP net income of $4.4 million, or $0.08 per diluted common share, and distributable earnings of $6.9 million, or $0.12 per share. The total loan portfolio reached $1.8 billion in outstanding principal, a 36% increase year over year, while office exposure fell to $442 million, or less than 25% of the portfolio. The board declared a quarterly dividend of $0.15 per share and reauthorized a $50 million share repurchase program through July 2027.

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