ARES CLOSES TWO LOANS IN KANSAS CITY, ATLANTA TOTALING $132.6M

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ATLANTA AND KANSAS CITY, MO. — Ares Commercial Real Estate Corp. has closed two loan commitments totaling $132.6 million, including a $107.1 million first mortgage loan collateralized by multifamily properties in Atlanta and a $25.5 million first mortgage loan collateralized by office properties in Kansas City, Mo. A sponsor group including Cortland Partners of Atlanta used the $107.1 million loan to finance the acquisition and property improvements of three multifamily properties in Atlanta. The $25.5 million loan was collateralized by two Class A office buildings in the Overland Park submarket of Kansas City.

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