198
CHICAGO — Ares Commercial Real Estate Corp. has originated three new loans totaling $100.5 million. The loans include a $45.3 million first mortgage acquisition loan for a 510-unit multifamily property in McKinney, a suburb of Dallas. The borrower, a sponsor group that includes Cortland Partners, will use the loan to finance property upgrades and new amenities. The second loan was a $35.5 million acquisition loan for a 301-unit multifamily property in Houston. The borrower, also a sponsor group that includes Cortland Partners, will use the loan to fund property improvements and new amenities. The third loan is for the $19.7 million refinancing of a 25,178-square-foot industrial warehouse in Springfield, Va., a suburb of Washington, D.C.