ACRES Commercial Realty amends JPMorgan facility covenants, extends maturity to 2026

ACRES Commercial Realty Corp.

Liquidity requirement set at $15M or 7.5% of outstanding repurchase price through Dec 2024, then $10M or 5%.
Total Indebtedness to Total Equity ratio capped at 5.50:1.00 through 2024, then 6.00:1.00.
EBITDA to Interest Expense ratio set at 1.25:1.00 through 2024, then 1.50:1.00.
Master repurchase agreement maturity extended from Oct 26, 2024 to July 21, 2026; optional extension to July 21, 2028.
Seller paid a $458,904 fee for the amendment.

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