Ares Commercial Real Estate

Balance sheet as of March 31, 2026: equity 492 million dollars, loans held for investment net 1.49 billion dollars, CECL reserve 136.8 million dollars. Funding through diversified secured facilities and a 90 million dollar secured term loan; CLO redeemed to lower cost and complexity.

Undrawn capacity about 268 million dollars and available capital cited around 163 million dollars. Near‑term debt maturities on facilities are well‑staggered (Citi 2027 with extensions, Wells 2028 with extensions, Morgan Stanley 2029 with extension), but repo facilities have margin provisions on credit events.

Financial resilience is adequate if asset resolutions proceed, but elevated reserves and non‑accruals cap the score.