Acres Commercial Realty repurchases $51.7M of 4.5% convertible notes due 2022

ACRES Commercial Realty Corp.

Repurchased ~$51.7M aggregate principal (plus accrued interest) of 4.5% convertible notes due 2022 at par in private transactions.
Anticipated charge to earnings of ~$1.4M ($0.15/share) from extinguishment of debt and acceleration of deferred issuance costs.
Approximately $92.0M aggregate principal of the notes remains outstanding after the repurchase.

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