ACRES Commercial Realty Corp. Reauthorizes an Additional $7.5 Million Share Repurchase Program

Core Points - ACRES Commercial Realty Corp. has authorized an additional $7.5 million for its existing share repurchase program to buy back outstanding shares of both common and preferred stock [1] - The repurchase will be conducted through various methods including open market purchases and privately-negotiated transactions, in compliance with federal securities laws [1] - The timing and amount of shares repurchased will depend on management's evaluation of market conditions and other factors [2] Company Overview - ACRES Commercial Realty Corp. is a real estate investment trust focused on originating, holding, and managing commercial real estate mortgage loans, and may also hold equity investments in commercial real estate properties [3] - The company is externally managed by ACRES Capital, LLC, which specializes in middle market commercial real estate lending, particularly in multifamily, student housing, hospitality, industrial, and office properties in major U.S. markets [3]