Ares Commercial Real Estate Corporation has completed the sale of a multi-building office property located in North Carolina to an unaffiliated buyer. The transaction, finalized on September 18, 2026, involved a wholly-owned subsidiary of the company and resulted in a cash purchase price of $64 million.
The property was previously acquired by the company through a deed in lieu of foreclosure on September 19, 2024. Following this acquisition, the asset was classified as held for sale starting with the three months ended March 31, 2026.
Accompanying the filing are unaudited pro forma financial statements. These documents illustrate the estimated impact of the sale as if it had occurred on June 30, 2026, for the balance sheet and as if it had occurred on January 1, 2025, for the income statement.
The pro forma adjustments reflect the estimated cash proceeds from the sale, net of transaction costs and closing adjustments, as well as the removal of the property's carrying amount and related operating expenses from the company's historical financials.
