CHICAGO--(BUSINESS WIRE)--Ares Commercial Real Estate Corporation (NYSE:ACRE) (the “Company”) today announced tax reporting information for the Company’s distributions on its common stock (CUSIP # 04013V-10-8) for calendar year 2014.
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Form 1099 |
(Boxes 1a + 2a) | Box 1a | Box 1b | Box 2a | Box 2b | ||||||||
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Record |
Payment |
Cash |
Ordinary |
Taxable |
Total Capital |
Unrecaptured
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| 12/31/13 | 1/22/14 | $0.2500 | $0.2351 | $0.0034 | $0.0149 | $0.0042 | |||||||
| 03/31/14 | 4/16/14 | $0.2500 | $0.2351 | $0.0034 | $0.0149 | $0.0042 | |||||||
| 06/30/14 | 07/16/14 | $0.2500 | $0.2351 | $0.0034 | $0.0149 | $0.0042 | |||||||
| 09/30/14 | 10/15/14 | $0.2500 | $0.2351 | $0.0034 | $0.0149 | $0.0042 | |||||||
| Totals | $1.0000 | $0.9404 | $0.0136 | $0.0596 | $0.0168 | ||||||||
| (1) | Box 1b is a subset of Box 1a | |
| (2) | Box 2b is a subset of Box 2a | |
Of the amounts indicated above as taxable for 2014, 14.5493% may be classified as excess inclusion income. The distribution paid in January 2015 that was declared in the fourth quarter 2014 and payable to shareholders of record as of December 31, 2014 was not a distribution of 2014 earnings and will be treated as a 2015 distribution for federal tax purposes.
Stockholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions, including the proper tax treatment of excess inclusion income.
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance company primarily engaged in principal lending and mortgage banking of commercial real estate investments. Through its national direct origination platform, Ares Commercial Real Estate Corporation provides a broad offering of flexible financing solutions for commercial real estate owners and operators. Through ACRE Capital LLC, its Mortgage Banking subsidiary, it originates and services multifamily residential mortgage loans, senior housing and healthcare facilities by utilizing the platforms of Fannie Mae, Freddie Mac and HUD. Ares Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by a subsidiary of Ares Management, L.P. (NYSE:ARES), a publicly traded, global alternative asset manager with approximately $80 billion of assets under management as of September 30, 2014. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference herein.
Forward-Looking Statements
Statements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which relate to future events or the Company’s 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 the risks described from time to time in the Company’s filings with the Securities and Exchange Commission. Ares Commercial Real Estate Corporation undertakes no duty to update any forward-looking statements made herein.