ACRES Commercial Realty Corp. Enters into Guaranties for Construction and Bridge Loans
On September 12, 2025, ACRES Commercial Realty Corp. (the "Company") entered into several guaranties related to a $62 million construction loan and an $11 million bridge loan. The loans were made to a borrower in which the Company holds a 90% membership interest. The guaranties include the Guaranty of Completion, Guaranty of Retail Space, Guaranty of Recourse Obligations, and Guaranty of Interest and Carry Costs. These guaranties ensure the borrower's obligations to commence, construct, develop, and complete the construction project in accordance with the loan agreement. Additionally, the Company entered into an Environmental Indemnity Agreement and a Repayment and Completion Guaranty for the bridge loan. These agreements collectively guarantee the payment and performance of the borrower's obligations under the loan agreements. The Company's involvement in these guaranties underscores its commitment to the successful completion of the construction project and the financial obligations associated with it.