Ares Commercial Real Estate, a REIT focused on middle-market commercial real estate debt and other commercial real estate assets, filed on Wednesday with the SEC to raise up to $250 million in an initial public offering. Ares Management-spinoff Ares Commercial is a part of their parent company’s private debt unit and has approximately $1 billion of committed capital under management as of June 30, 2011. The recently formed company Chicago, IL-based company plans to list on the New York Stock Exchange under the symbol ACRC. Wells Fargo, Citigroup, and BofA Merrill Lynch are the lead underwriters on the deal. Terms and timing are yet to be determined.
