Acquisition of DUS® Lender with $3.9 Billion Servicing Portfolio
Expands ACRE’s Product Offering Into Fannie Mae and FHA Loans
CHICAGO--(BUSINESS WIRE)-- Ares Commercial Real Estate Corporation (NYSE: ACRE) announced today that it has entered into a definitive agreement to acquire EF&A Funding, L.L.C, d/b/a Alliant Capital LLC from The Alliant Company, LLC and Alliant, Inc., for approximately $62.8 million through a combination of cash and stock.
Under the terms of the transaction, Alliant Capital LLC is expected to become a wholly owned taxable REIT subsidiary of ACRE. Alliant Capital, Ltd., which on a national scale provides tax credit equity for the financing and development of affordable housing, is not included in the acquisition and will remain a part of The Alliant Company.
ACRE is part of the $60 billion Ares Management family.
I am proud to serve on the board of directors of Ares Commercial Real Estate. Read the complete release on the acquisition announcement here.