CHICAGO--(BUSINESS WIRE)--Ares Commercial Real Estate Corporation (NYSE: ACRE) (the “Company”) today announced the tax treatment for the Company's distributions on its common stock (CUSIP # 04013V-10-8) with respect to calendar year 2012 (excluding distributions made prior to the Company’s initial public offering):
Ordinary Income Per
As the Company's aggregate distributions exceeded its earnings and profits, the January 2013 distribution declared in the fourth quarter of 2012 and payable to shareholders of record as of December 31, 2012 will be treated as a 2013 distribution for federal tax purposes. This distribution is not included on the 2012 Form 1099. Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company's distributions.
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance company that originates, invests in and manages middle-market commercial real estate loans and other commercial real estate investments. Through its national direct origination platform, Ares Commercial Real Estate Corporation provides flexible financing solutions for middle market borrowers. Ares Commercial Real Estate Corporation intends to elect to be taxed as a real estate investment trust and is externally managed by an affiliate of Ares Management LLC, a global alternative asset manager with approximately $59 billion in committed capital under management as of December 31, 2012. For more information, please visit our website at arescre.com.
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Ares Commercial Real Estate Corporation undertakes no duty to update any forward-looking statements made herein.