CHICAGO--(BUSINESS WIRE)--
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced today
that it has declared a cash dividend of $0.06 per common share for the
quarter ending June 30, 2012. The dividend is payable on July 12, 2012
to stockholders of record at the close of business on June 29, 2012.
Ares Commercial Real Estate considered the returns from the initial
portfolio and the near term outlook for the funding of additional
investments after the end of the second quarter in determining the
dividend for the second quarter.
“Having completed our initial public offering last month, we are excited
about the opportunity to build a leading direct origination business
focused on providing flexible capital to the commercial real estate
market,” said John Bartling, Chief Executive Officer of Ares Commercial
Real Estate. “We are pleased to provide this first cash dividend to our
new public stockholders, and we are working toward growing our dividends
over the coming quarters as we deploy our available capital into new
investments.”
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance company
that originates, invests in and manages middle-market commercial real
estate loans and other commercial real estate investments. Through its
national direct origination platform, Ares Commercial Real Estate
provides flexible financing solutions for middle market borrowers. Ares
Commercial Real Estate intends to elect to be taxed as a real estate
investment trust and is externally managed by an affiliate of Ares
Management LLC, a global alternative asset manager with approximately
$52 billion in committed capital under management as of April 30, 2012.
For more information, please visit our website at arescre.com.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of
1995, which relate to future events or our future performance or
financial condition. These statements are not guarantees of future
performance, condition or results and involve a number of risks and
uncertainties. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors, including
those described from time to time in our filings with the Securities and
Exchange Commission. Ares Commercial Real Estate undertakes no duty to
update any forward-looking statements made herein.
Ares Commercial Real Estate Corporation
Carl Drake, 404-814-5204
[email protected]
Source: Ares Commercial Real Estate Corporation