---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-003512"
form_type: "8-K"
ticker: "ACRE"
cik: "0001529377"
company_name: "Ares Commercial Real Estate Corp"
filed_at: "2024-02-06T23:59:59+00:00"
generated_at: "2026-06-06T08:05:03.164924+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# ACRE extends CNB revolving facility maturity to March 2025, adjusts rate to SOFR+3.25%

## Summary
- Maturity extended to March 10, 2025; one 12-month extension option available subject to fees and conditions.
- Interest rate set at SOFR+3.25% or base+2.25%, with an interest rate floor.
- Borrower is ACRC Lender LLC, a subsidiary; Ares Commercial Real Estate Corp is guarantor.
- Amendment entered January 31, 2024; filed as Exhibit 10.1.

## SEC filing metadata
- accession: 0001628280-24-003512
- form_type: 8-K
- ticker: ACRE
- cik: 0001529377
- company_name: Ares Commercial Real Estate Corp
- filed_at: 2024-02-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1529377/000162828024003512/0001628280-24-003512-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1529377/000162828024003512/acre-20240131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-003512
- JSON: https://secwatch.observer/filing/0001628280-24-003512.json
- Plain text: https://secwatch.observer/filing/0001628280-24-003512.txt

## Key facts
- Debt Financings
  Ares Commercial Real Estate Corp amended revolving credit with City National Bank at SOFR-based rate plus 3.25% or base rate plus 2.25% maturing March 10, 2025, subject to one 12-month extension.
  - Instrument: revolving credit
  - Counterparty: City National Bank
  - Rate: SOFR-based rate plus 3.25% or base rate plus 2.25%
  - Maturity: March 10, 2025, subject to one 12-month extension
  - Event: amendment
  source text: On January 31, 2024, Ares Commercial Real Estate Corporation (the “Company”), as guarantor, and ACRC Lender LLC, a subsidiary of the Company (the “Borrower”), entered into an amendment to the secured revolving funding facility with City National Bank (the “CNB Facility”). The purpose of the amendment was to, among other things: (1) extend the initial maturity date of the CNB Facility to March 10, 2025, subject to one 12-month extension, which may be exercised at the Borrower’s option if certain conditions described in the CNB Facility are met, including the payment of applicable extension fees; and (2) set the interest rate on advances under the CNB Facility to a per annum rate equal to the sum of, at the Borrower’s option, either (a) a SOFR-based rate plus 3.25% or (b) a base rate plus 2.25%, in each case, subject to an interest rate floor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1529377/000162828024003512/0001628280-24-003512-index.htm
- Material Agreements
  Ares Commercial Real Estate Corp amended a credit facility with City National Bank (effective 2024-01-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: City National Bank
  - Effective: 2024-01-31
  source text: On January 31, 2024, Ares Commercial Real Estate Corporation (the “Company”), as guarantor, and ACRC Lender LLC, a subsidiary of the Company (the “Borrower”), entered into an amendment to the secured revolving funding facility with City National Bank (the “CNB Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1529377/000162828024003512/0001628280-24-003512-index.htm

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