---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-21-023253"
form_type: "8-K"
ticker: "ACRE"
cik: "0001529377"
company_name: "Ares Commercial Real Estate Corp"
filed_at: "2021-11-15T23:59:59+00:00"
generated_at: "2026-06-28T08:20:32.400300+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# ACRE upsizes term loan to $150M, cuts pricing, extends maturity to 2026; CNB facility raised to $75M

## Summary
- Term loan increased from $60M to $150M; initial fixed rate 4.50% (down from LIBOR+5.75%).
- Term loan maturity extended to November 2026; prepayment premium applies for first 36 months.
- CNB revolving facility increased from $50M to $75M; accordion feature removed.
- Proceeds used for new loan originations, portfolio growth, and working capital.
- CEO cites cost savings from direct execution using internal manager resources.

## SEC filing metadata
- accession: 0001628280-21-023253
- form_type: 8-K
- ticker: ACRE
- cik: 0001529377
- company_name: Ares Commercial Real Estate Corp
- filed_at: 2021-11-15T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1529377/000162828021023253/0001628280-21-023253-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1529377/000162828021023253/acre-20211112.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-21-023253
- JSON: https://secwatch.observer/filing/0001628280-21-023253.json
- Plain text: https://secwatch.observer/filing/0001628280-21-023253.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.