Ares commercial real estate corp (ACRE)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11
ASSETS
Cash and Cash Equivalents, at Carrying Value

74

5

5

5

12

11

5

5

5

28

28

5

44

47

41

5

6

5

10

8

9

15

11

20

30

20

12

40

22

23

23

87

4

1

Restricted cash

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

11

25

13

27

26

30

49

24

24

23

16

21

4

3

3

1

2

0

-

Loans held for investment ($425,817 and $515,896 related to consolidated VIEs, respectively)

1,870

1,682

1,538

1,487

1,548

1,524

1,658

1,746

1,658

1,726

1,543

1,641

1,372

1,313

1,473

1,142

1,209

1,174

1,269

1,278

1,304

1,462

-

-

-

958

-

-

-

-

-

-

-

-

Current expected credit loss reserve

29

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans held for investment, net of current expected credit loss reserve

1,841

1,682

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Real estate owned, net

37

37

38

36

36

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans held for investment ($688,165 and $493,783 related to consolidated VIEs, respectively)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,238

1,161

1,110

-

692

525

409

353

190

78

77

4

Loans held for sale, at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58

-

94

131

146

-

24

55

1

89

24

-

-

-

-

-

-

-

Mortgage servicing rights, at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

-

60

60

58

-

59

58

60

59

-

-

-

-

-

-

-

-

Mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

60

-

-

-

-

-

-

-

Accrued interest receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

2

-

0

0

0

0

Deferred financing costs, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4

4

-

2

2

1

1

Other assets ($1,010 and $1,309 of interest receivable related to consolidated VIEs, respectively; $131,183 and $41,104 of other receivables related to consolidated VIEs, respectively)

147

58

91

141

20

66

67

66

80

15

15

15

12

12

49

12

61

53

40

39

40

39

44

101

32

32

27

2

0

7

0

0

0

0

Assets of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

159

-

133

-

-

-

294

-

-

-

-

-

-

-

-

-

-

-

-

Total assets

2,101

1,784

1,674

1,671

1,618

1,603

1,731

1,817

1,744

1,770

1,587

1,662

1,429

1,373

1,565

1,332

1,422

1,378

1,502

1,544

1,589

1,862

1,402

1,421

1,257

1,176

839

581

443

387

220

171

84

7

LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Secured funding agreements

990

728

620

617

621

777

912

1,000

929

957

730

809

576

780

879

601

615

522

521

560

504

552

341

457

341

264

294

101

200

144

48

-

47

-

Notes payable and secured borrowings

65

54

55

54

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Warehouse lines of credit

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49

-

83

51

139

-

17

48

-

-

13

-

-

-

-

-

-

-

Secured term loan

109

109

108

108

108

108

108

107

107

107

151

151

150

149

149

70

69

69

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68

68

68

67

68

68

67

67

-

-

-

67

-

-

-

-

Commercial mortgage-backed securitization debt (consolidated VIE)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

28

61

61

83

83

217

-

395

395

395

-

-

-

-

-

-

-

-

Commercial mortgage-backed securitization debt (consolidated VIE)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

219

-

-

-

-

-

-

-

-

-

-

-

Collateralized loan obligation securitization debt (consolidated VIE)

443

443

442

442

442

270

271

271

271

271

270

270

270

0

57

104

156

192

222

246

256

305

308

-

-

-

-

-

-

-

-

-

-

-

Convertible notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

67

67

-

-

-

-

-

Allowance for loss sharing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8

-

8

11

11

-

13

14

16

16

19

-

-

-

-

-

-

-

Derivative liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

-

-

-

-

-

Escrow liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1

1

-

-

Accounts payable and accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

1

-

0

0

1

0

Due to affiliate

2

2

2

3

2

3

2

3

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

2

1

1

1

1

0

0

0

Dividends payable

11

9

9

9

9

8

8

8

8

7

7

7

7

7

7

7

7

7

7

7

7

7

7

7

7

7

7

6

2

2

0

0

0

-

Other liabilities ($691 and $718 of interest payable related to consolidated VIEs, respectively)

12

9

9

9

9

8

4

4

4

3

3

3

3

3

3

14

28

14

33

23

28

10

22

24

22

17

24

5

5

7

-

-

-

-

Liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

77

-

51

-

-

-

217

-

-

-

-

-

-

-

-

-

-

-

-

Refundable deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

Interest payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

-

Total liabilities

1,635

1,357

1,248

1,245

1,193

1,177

1,307

1,395

1,323

1,351

1,166

1,245

1,011

944

1,099

877

968

922

1,010

1,055

1,102

1,381

1,001

1,017

853

770

429

186

280

222

53

3

49

1

Commitments and contingencies (Note 7)

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

STOCKHOLDERS' EQUITY
Series A convertible preferred stock, par value $50,000 per share, 600 and 0 shares authorized, 114.4578 and 0 shares issued and outstanding at March 31, 2012 and December 31, 2011, respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

-

Preferred stock, par value $0.01 per share, 50,000,000 shares authorized at December 31, 2013 and 2012, no shares issued and outstanding at December 31, 2013 and 2012

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

0

0

0

0

0

Common stock, par value $0.01 per share, 450,000,000 shares authorized at March 31, 2020 and December 31, 2019 and 33,398,952 and 28,865,610 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

Additional paid-in capital

496

423

423

422

422

421

421

421

420

420

420

420

420

420

419

420

420

421

421

420

420

420

420

419

419

419

419

404

169

169

169

169

29

6

Accumulated earnings (deficit)

-30

2

2

2

2

3

2

0

-0

-1

-0

-3

-2

-1

-1

-13

-14

-11

-13

-15

-17

-17

-19

-16

-15

-13

-8

-9

-5

-3

-2

-1

-0

-0

Total stockholders' equity

466

426

425

425

425

425

424

422

420

419

420

416

417

419

418

407

406

409

407

405

403

402

401

403

404

406

410

394

163

165

166

167

29

6

Non-controlling interests in consolidated VIEs

-

-

-

-

-

-

-

-

-

-

0

0

0

10

47

47

47

47

84

84

84

77

-

-

-

-

-

-

-

-

-

-

-

-

Total equity

-

-

-

-

-

-

-

-

-

-

420

416

417

429

465

454

454

456

491

489

487

480

-

-

-

406

-

-

-

-

-

-

-

-

Total liabilities and stockholders' equity

2,101

1,784

1,674

1,671

1,618

1,603

1,731

1,817

1,744

1,770

1,587

1,662

1,429

1,373

1,565

1,332

1,422

1,378

1,502

1,544

1,589

1,862

1,402

1,421

1,257

1,176

839

581

443

387

220

171

84

7