Investor Presentaiton
Ares Commercial Real Estate Corporation (ACRE)
Real Estate Investment
Trust with Broad Product &
Extensive Credit Capabilities
①ARES
Diversified Portfolio of Primarily Senior Floating Rate
Loans
COMMERCIAL REAL ESTATE CORPORATION
Direct Origination of
Value-Add, Floating Rate
Commercial Mortgage Loans
Opportunities for Continued Growth
99%
senior loans
64
$1.0 billion
2.5x
loans across diversified
portfolio
in originations YTD, on track
for record year
Debt to Equity ratio with a
target of 3.0x
$2.4 billion
outstanding principal balance
Focused on multifamily, office
and industrial properties
Strengthened by Ares Management Sponsorship
195+
$282 billion
ARES AUM
ARES real estate investment
professionals
26%
Decline in G&A expenses benefitting from increase in scale¹
Well positioned to benefit from material
increase in short term interest rates
Historical Record of Attractive Performance
> 100%
dividend coverage from
Distributable Earnings²
~5 years
9.8%
Dividend yield on book value
per diluted common share³
$37 billion
ARES Real Estate Group AUM
Scaled global real estate team with deep sector experience
33%
of stable and increasing
dividends4
Portfolio growth year-over-year
Track record of generating strong returns to shareholders
As of September 30, 2021, unless otherwise noted. Past performance is not indicative of future results. There is no guarantee or assurance investment objectives will be
achieved. Diversification does not ensure profit or protect against market loss.
1.
2.
3.
4.
From FY 2019 to Q3-21 LTM period. Calculated as period G&A expenses and management fees divided by equity.
Full dividend coverage since 2017. Beginning in Q4 2020, the non-GAAP financial measure of Core Earnings was renamed to Distributable Earnings. See page 25 for
Distributable Earnings definition and page 23 for Reconciliation of Net Income to Non-GAAP.
3
There is no assurance that dividends will continue at these levels or at all. Based on annualized Q3-2021 declared normal and supplemental dividend of $0.35/share.
There is no assurance that dividends will be paid at historical levels or at all.
ARES
COMMERCIAL REAL ESTATE CORPORATIONView entire presentation