Andrew Fentress
appointed Andrew Fentress as the Company’s Managing Director – Capital Markets
Highest-materiality recent filing
Stockholders approve internalization merger share issuance, 2026 equity plan, and director slate
Approved issuance of ~7.49M shares of common stock for internalization merger with ACRES Capital Corp. (99% of votes cast in favor).
ACR to acquire external manager ACRES Capital Corp., become internally managed REIT
All-stock merger: ACC shareholders receive 2.61882 ACR shares per ACC share; ~7.5M new ACR shares issued at fully diluted book value.
ACR Q1 2026 GAAP net loss $1.0M ($0.16/diluted); originated $496M loans
GAAP net loss allocable to common shares of $1.0M, or -$0.16 per diluted share.
ACRES Commercial Realty Corp. dismisses EY, appoints PwC as auditor effective Q1 2026
Dismissed Ernst & Young (EY) as independent auditor, effective upon filing Q1 2026 10-Q.
ACR Q4 2025 GAAP net loss $3.0M; origination activity $571M
GAAP net loss allocable to common shares $3.0M ($0.43 diluted EPS) for Q4 2025.
ACR reports Q3 GAAP net income $9.8M ($1.34 diluted EPS); redeploys proceeds into new loans
GAAP net income allocable to common shares was $9.8M ($1.34 per diluted share) for Q3 2025.
ACR guarantees $62M construction loan and $11M bridge loan for Chicago JV project
On Sep 12, 2025, ACR entered guaranties for a $62M construction loan and an $11M bridge loan to a JV (90% owned by ACR).
ACRES Commercial Realty reports Q2 GAAP net loss of $0.10 per share
GAAP net loss allocable to common shares of $732,000 ($(0.10) per diluted share) for Q2 2025.
ACRES Commercial Realty stockholders elect all nine directors, approve say-on-pay, ratify EY
All nine director nominees elected: Bryant, Edwards, Fentress, Fogel, Ickowicz, Kessler, Levin, Neff, Williams.
ACRES Commercial Realty reports Q1 net loss $5.9M, EPS $(0.80) per share-diluted
GAAP net loss allocable to common shares was $5.9 million, or $(0.80) per share-diluted for Q1 2025.
ACR reports Q4 2024 net income of $4.1M, diluted EPS $0.52; CEO cites proactive portfolio management
GAAP net income allocable to common shares $4.1M, $0.52 diluted EPS for Q4 2024.
ACRES Commercial Realty reports Q3 GAAP net income $2.8M, EPS $0.36
GAAP net income allocable to common shares of $2.8 million for Q3 2024.
ACR reports Q2 2024 GAAP net income of $1.7M, EPS $0.21
GAAP net income allocable to common shares: $1.7 million for Q2 2024.
ACRES Commercial Realty Corp. announces annual meeting voting results; all nine directors elected
All nine director nominees elected; 'for' votes ranged from 1,966,211 to 2,143,708.
ACRES Commercial Realty selects EY as new auditor; no prior disagreements with Grant Thornton
Audit Committee chose EY as independent auditor for FY2024, effective upon Q1 2024 10-Q filing.
ACRES Commercial Realty reports Q1 2024 GAAP net income $0.07 per share
GAAP net income allocable to common shares was $556,000, or $0.07 diluted EPS for Q1 2024.
ACRES Commercial Realty dismisses Grant Thornton, appoints EY as auditor
Audit Committee dismissed Grant Thornton effective upon filing Q1 2024 10-Q.
ACRES Commercial Realty reports Q4 2023 GAAP net income $1.7M, $0.20 diluted EPS
GAAP net income allocable to common shares was $1.7M, or $0.20 per share-diluted for Q4 2023.
Director William B. Hart to retire from ACRES Commercial Realty Board
William B. Hart notified Board on Feb 15, 2024 he will not stand for re-election at 2024 Annual Meeting.
ACRES Commercial Realty appoints retiring CFO David J. Bryant to Board
Board increased from nine to ten directors; Bryant appointed effective Jan 1, 2024.
ACRES CFO Bryant retiring Dec 31; Blackwell appointed successor; Q3 net income $2.9M
David J. Bryant, CFO, to retire effective Dec 31, 2023 after 17 years.
ACR reports Q2 2023 GAAP net income of $817K ($0.10 diluted EPS)
GAAP net income allocable to common shares was $817,000, or $0.10 per diluted share.
ACRES Commercial Realty amends JPMorgan facility covenants, extends maturity to 2026
Liquidity requirement set at $15M or 7.5% of outstanding repurchase price through Dec 2024, then $10M or 5%.
ACRES Commercial Realty annual meeting: all director nominees elected, say-on-pay approved
All nine director nominees elected; 'for' votes ranged from 2.799M (Levin) to 3.017M (Fogel); 'against' from 140k to 360k.
ACRES Commercial Realty Q1 net loss of $2.4M; EPS -$0.28
GAAP net loss allocable to common shares of $2.4M, or $0.28 per share diluted.
ACRES Commercial Realty reports Q4 2022 GAAP net loss of $7.4M, or $0.87 per share
GAAP net loss allocable to common shares was $7.4 million ($0.87 diluted EPS) for Q4 2022.
ACRES Commercial Realty subsidiary guarantees $48M construction loan for student housing complex
Subsidiary ACRES Realty Funding, Inc. provided 'bad boy' guaranties on a $48M construction loan from Oceanview Life and Annuity Company.
ACRES Commercial Realty enters amended $500M term loan facility with MassMutual
Amended loan agreement ups facility to $500M from prior arrangement, with five-year maturity per series.
ACRES Commercial Realty amends credit facility covenants with JPMorgan and Morgan Stanley
JPM Amendment (Nov 17): Through Sep 2023, liquidity floor raised to $15M or 7.5% of repurchase price; max leverage 5.5:1; min EBITDA/interest 1.25:1.
ACR posts Q3 2022 GAAP net income of $713K, or $0.08 diluted EPS
GAAP net income allocable to common shares was $713,000 ($0.08 diluted EPS) for Q3 2022.
ACR extends availability period on $250M credit facility to Oct 15, 2022
Sixth Amendment extends Availability Period from Aug 31, 2022 to Oct 15, 2022.
ACR posts Q2 2022 GAAP net income of $690K, $0.08 diluted EPS
GAAP net income allocable to common shares was $690,000 ($0.08 diluted EPS) for Q2 ended June 30, 2022.
Fifth Amendment extends Availability Period from July 31 to August 31, 2022.
Elected all nine director nominees: Edwards, Fentress, Fogel, Hart, Ickowicz, Kessler, Levin, Neff, Williams to serve until 2023.
ACR Q1 2022 GAAP net loss $2.8M ($0.30/diluted share)
GAAP net loss allocable to common shares was $2.8 million, or $(0.30) per diluted share for Q1 2022.
ACR reports Q4 net income $0.76/share; record $1.5B originations in 2021
GAAP net income allocable to common shares: Q4 2021 $7.3M ($0.76 diluted EPS).
ACRES Commercial repurchases $39.8M of 4.50% convertible notes due 2022
Repurchased $39.8M aggregate principal of its 4.50% convertible senior notes at par in a private transaction.
ACRES extends note warrant deadline to July 2022; amends repo agreements for LIBOR transition
Amendment No. 1 with Oaktree and Mass Mutual extends the window to issue Additional Notes from Jan 31, 2022 to July 31, 2022.
ACR reports Q3 GAAP net loss of $9.8M, $1.03 EPS loss; originations top $1B YTD
GAAP net loss allocable to common shares of $9.8 million, or ($1.03) per diluted share, for Q3 2021.
ACRES Commercial Realty Corp. extends repurchase agreements with JPMorgan and Barclays
JPMorgan amendment: Maturity extended from Oct 26, 2021 to Oct 26, 2024; Tangible Net Worth Requirement increased to $350 million
Agreement with JonesTrading Institutional Services to sell up to 2.2M shares of 7.875% Series D Cumulative Redeemable Preferred Stock.
ACRES repurchases $4M of 4.5% convertible notes; total $55.7M bought back
Repurchased $4.0M aggregate principal of 4.5% convertible notes due 2022 at par in private transaction.
Minimum liquidity covenant revised to 5% of aggregate outstanding repurchase price (amendment to Guarantee §9(a)(i)(B)).
Acres Commercial Realty repurchases $51.7M of 4.5% convertible notes due 2022
Repurchased ~$51.7M aggregate principal (plus accrued interest) of 4.5% convertible notes due 2022 at par in private transactions.
ACRES Commercial Realty redeems $50M 12% notes due 2027; incurs $8M charge
Paid $55.3M to Oaktree and MassMutual to redeem all $50M principal of 12% senior unsecured notes due 2027.
ACRES Commercial Realty Corp. issues $150M of 5.75% senior unsecured notes due 2026
Issued $150M in aggregate principal amount of 5.75% senior unsecured notes maturing August 15, 2026.
ACR prices $150M of 5.75% senior notes due 2026; will redeem $50M of 12% notes
$150M aggregate principal of 5.75% Senior Unsecured Notes due 2026 priced.
ACR Q2 net income $10.1M ($1.04/diluted); originated $470M CRE loans, $803M securitization
GAAP net income allocable to common $10.1M ($1.04/diluted) for Q2 2021; $20.5M ($2.06/diluted) for H1 2021.
ACRES Commercial Realty closes $53.3M follow-on offering of 7.875% Series D Preferred Stock
Offered 2,200,000 shares (including partial over-allotment) of 7.875% Series D Cumulative Redeemable Preferred Stock.
appointed Andrew Fentress as the Company’s Managing Director – Capital Markets
On February 15, 2024, William B. Hart notified the board of directors (the "Board") of ACRES Commercial Realty Corp. (the “Company”) that he does not intend to stand for re-election at the Company’s 2024 Annual Meeting of Stockholders.
appointed David J. Bryant as a member of the Board effective January 1, 2024.
Mr. Bryant, age 65, has been the Company’s Senior Vice President, Chief Financial Officer and Treasurer since June 2006 through his planned retirement effective on December 31, 2023
On November 1, 2023, Eldron C. Blackwell was appointed as the Company's Chief Financial Officer, Senior Vice President and Treasurer, effective January 1, 2024.
On November 1, 2023, David J. Bryant, Chief Financial Officer, Senior Vice President and Treasurer, informed the Company of his intention to retire effective December 31, 2023.
Additionally, on November 1, 2023, Linda M. Kilpatrick was appointed as the Company's Chief Accounting Officer, Vice President and Controller, effective January 1, 2024.
Max materiality 0.90 · Median 0.50 · Most common event earnings