Barings Real Estate Advisers Completes Acquisition of ACRE Capital Holdings LLC
October 03 2016 - 6:20AM
Barings Real Estate Advisers, formerly known as Cornerstone Real
Estate Advisers, one of the world’s largest real estate-focused
investment managers, today announced that it has completed its
acquisition of ACRE Capital Holdings LLC, the parent company of
ACRE Capital LLC (“ACRE Capital”), the agency lending subsidiary of
Ares Commercial Real Estate Corporation (NYSE:ACRE). The ACRE
Capital platform will be renamed as Barings Multifamily Capital and
will be a subsidiary to Barings Real Estate Advisers. The
transaction, valued at $93 million, was previously announced on
June 29, 2016.
“The acquisition of Barings Multifamily Capital
is a demonstration of Barings’ ability to source not only direct
real estate investments but also attractive real estate operating
company investments for our clients. The array of capital
solutions that we can provide within the multifamily and healthcare
sectors positions us very well to allocate capital up and down the
capital stack and grow the coverage and expertise in an important
property sector for Barings Real Estate Advisers,” stated Scott
Brown, Global Head of Real Estate at Barings.
Barings Multifamily Capital originates and
services multifamily, senior housing and healthcare facility loans
by utilizing programs overseen by governmental agencies and
government-sponsored entities. The platform, which is highly
complementary to the Barings Real Estate Advisers other origination
and investment organizations, is one of only 19 lenders that hold
licenses with Fannie Mae, Freddie Mac and the Federal Housing
Administration.
Barings Multifamily Capital will report into
Jamie Henderson, Head of Structured Real Estate Investments at
Barings Real Estate Advisers. He commented: “Barings has a bullish
stance regarding the real estate fundamentals of both the
multifamily and healthcare sectors due to a variety of structural
and demographic factors. The addition of Barings Multifamily
Capital broadens our reach into these important sectors.”
About Barings:
Barings is a $275+billion* global asset
management firm dedicated to meeting the evolving investment and
capital needs of our clients. We build lasting partnerships that
leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and
exceptional service. A member of the MassMutual Financial Group,
Barings maintains a strong global presence with over 600 investment
professionals and offices in 17 countries. Barings Real Estate
Advisers is the real estate investment unit of Barings LLC. Learn
more, at www.barings.com.
*As of June 30, 2016.
About Ares Commercial Real Estate
Corporation:
Ares Commercial Real Estate Corporation is a
specialty finance company primarily engaged in originating and
investing in commercial real estate loans and related investments.
Through its national direct origination platform, the company
provides a broad offering of flexible and reliable financing
solutions for commercial real estate owners and operators. The
company originates senior mortgage loans as well as subordinate
financings, mezzanine debt and preferred stock with an emphasis on
providing value added financing on a variety of properties located
in liquid markets across the United States. Ares Commercial
Real Estate Corporation elected and qualified to be taxed as a real
estate investment trust and is externally managed by a subsidiary
of Ares Management, L.P. (NYSE:ARES), a publicly traded, leading
global alternative asset manager with approximately $95 billion of
assets under management as of June 30, 2016. For more information,
please visit www.arescre.com. The contents of such website are not,
and should not be deemed to be, incorporated by reference
herein.
For more information, contact:
FTI Consulting
Raina Gajjar
raina.gajjar@fticonsulting.com / +1-212-850-5724
Barings
Brian Whelan, Head of Corporate Communications
brian.whelan@barings.com / +1-980-417-7700
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