ACRES Commercial Realty Corp. is a real estate investment trust (REIT) based in Uniondale, New York. The company primarily focuses on originating, holding, and managing commercial real estate mortgage loans and other debt investments across the United States. It targets middle-market commercial real estate sponsors, with a significant portion of its portfolio concentrated in the multifamily, student housing, hospitality, industrial, and office sectors.
As a commercial mortgage REIT, ACRES has no traditional customer concentration; its exposure is to CRE borrowers/sponsors, property types and geographies in its loan portfolio. The $1.8 billion CRE loan portfolio at carrying value at December 31, 2025 was concentrated by NCREIF region: the Southwest region was 24.2% of the portfolio (90.2% of which was in Texas, 100% multifamily collateral), the Southeast region was 20.6% (60.1% in Florida, 89.1% multifamily), and the Pacific region was 14.0% (79.8% in California, 73.0% multifamily). The portfolio is heavily weighted to multifamily (over 80% of assets historically), with additional exposure to student housing, hospitality, industrial, self-storage, office and retail. The 10-K flags that the portfolio may carry material geographic, property-type, sector and sponsor concentrations, and that a significant concentration with a small number of sponsors could materially affect results.