Ares Commercial Real Estate Corporation, an Ares Management-owned REIT focused on middle-market commercial real estate assets, announced a new ticker and added co-managers in a filing with the SEC on Wednesday. Ares Commercial now plans to list on the NYSE under the symbol ACRE. The four co-managers join bookrunners Wells Fargo, Citi, BofA Merrill Lynch and J.P. Morgan in underwriting the deal.
Ares Commercial filed in September 2011 for a $100 million IPO but now plans to raise up to $250 million. The updated financials results through 3/7/12 showed year-to-date interest income of $6 million.
