Ares Commercial Real Estate Corporation Closes $47 Million Financing on

Ares Commercial Real Estate Corporation Closes Million Financing on
CHICAGO–(BUSINESS WIRE)– Ares Commercial Real Estate Corporation (NYS: ACRE) announced today that it closed a $ 47 million first mortgage loan collateralized by a Class B office building located in Downtown Miami's Brickell neighborhood.
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Lenders Increasingly Agree to Write Down Commercial Real Estate Loans
In a reversal from just two years ago, lenders are once again agreeing to write down outstanding bank loans extended to real estate investors as the economy continues to rebound, analysts said. As fundamentals such as rental rates and vacancy rates …
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