Ares Commercial Real Estate Corp

Ares Commercial Real Estate Corporation (ACRE) is a specialty finance company that primarily originates and invests in commercial real estate (CRE) loans and related investments. The company is externally managed by Ares Commercial Real Estate Management LLC (ACREM), a subsidiary of Ares Management Corporation. ACRE began operations in late 2011 and has focused on originating and managing a diversified portfolio of CRE debt-related investments for its own account. ACRE is a Maryland corporation that completed its initial public offering in May 2012. The company has elected and qualified to be taxed as a real estate investment trust (REIT) for United States federal income tax purposes, commencing with its taxable year ended December 31, 2012. As a REIT, ACRE generally avoids United States federal income taxes on its REIT taxable income by distributing an amount at least equal to its REIT taxable income to stockholders annually and complying with other REIT requirements. The company also operates to maintain its exemption from registration under the Investment Company Act of 1940.