ACRE News Ares Commercial Real Estate Corporation Announces Tax Reporting Information For Calendar Year 2015

Ares Commercial Real Estate Corporation Announces Tax Reporting Information For Calendar Year 2015

News

Ares Commercial Real Estate Corporation Announces Tax Reporting Information For Calendar Year 2015

Jan

29

2016

NEW YORK—January 29, 2016—Ares Commercial Real Estate Corporation (NYSE: ACRE) (the “Company”) today announced the tax treatment for the Company’s dividends on its common stock (CUSIP # 04013V-10-8) for calendar year 2015.

 

Form 1099 Reference:

(Boxes 1a + 2a)

Box 1a

Box 1b

Box 2a

Box 2b

Record Date

Payment Date

Cash Distribution

Per Share

Ordinary

Taxable

Dividend

Taxable Qualified Dividends(1)

Total Capital Gain Distribution

Unrecaptured 1250 Gain(2)

12/31/14

01/15/15

$0.2500

$0.1854

$0.0000

$0.0646

$0.0135

03/31/15

04/15/15

$0.2500

$0.1854

$0.0000

$0.0646

$0.0135

06/30/15

07/15/15

$0.2500

$0.1854

$0.0000

$0.0646

$0.0135

09/30/15

10/15/15

$0.2500

$0.1854

$0.0000

$0.0646

$0.0135

12/31/15

01/19/16

$0.1811(3)

$0.1343

$0.0000

$0.0468

$0.0098

 

Totals

$1.1811

$0.8759

$0.0000

$0.3052

$0.0638

  1. Box 1b is a subset of Box 1a
  2. Box 2b is a subset of Box 2a
  3. Total distribution was $0.2500 per share. $0.1811 represents the portion of this distribution that is treated as taxable in 2015. Further details on this distribution is included below

 

2015 taxable earnings for the Company were $1.18 per share and cash dividends paid to shareholders during 2015 were $1.00 per share. Accordingly, a portion of the dividend paid in January 2016 that was declared in the fourth quarter of 2015 to shareholders of record as of December 31, 2015 was treated as a 2015 dividend for federal tax purposes and will be included on the 2015 Form 1099-DIV. None of the amounts indicated above as taxable for 2015 are classified as excess inclusion income. 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 primarily engaged in principal lending and mortgage banking of commercial real estate investments. Through Ares Commercial Real Estate Corporation’s national direct origination platform, it provides a broad offering of flexible financing solutions for commercial real estate owners and operators. Through ACRE Capital LLC, Ares Commercial Real Estate Corporation’s mortgage banking subsidiary, it originates and services multifamily residential mortgage loans, senior housing and healthcare facility loans by utilizing programs overseen by governmental agencies and government-sponsored entities. 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, leading global alternative asset manager with approximately $92 billion of assets under management as of September 30, 2015. 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, those 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.

 

Contacts

 

Carl Drake or John Stilmar, 888-818-5298
iracre@aresmgmt.com