India, April 30 -- ACRES Commercial Realty Corp (ACR), a real estate investment trust, announced Thursday that it has agreed to acquire ACRES Capital Corp. (ACC) a private commercial real estate lender, in an all-stock transaction and internalize management, transitioning from an externally managed to an internally managed REIT.
Under the deal, ACR will acquire ACC and its indirect wholly owned subsidiary ACRES Capital, LLC, the current external manager, and terminate the existing management agreement.
ACR will issue about 7.5 million shares of common stock to ACC stockholders as merger consideration, priced at ACR's fully diluted book value per share as of Dec 31, 2025.
The net increase in ACR shares outstanding is expected to be about ...