SEC Info  
    Home      Search      My Interests      Help      Sign In      Please Sign In

ACRES Commercial Realty Corp. – ‘8-K’ for 8/29/22

On:  Tuesday, 8/30/22, at 4:14pm ET   ·   For:  8/29/22   ·   Accession #:  1564590-22-30483   ·   File #:  1-32733

Previous ‘8-K’:  ‘8-K’ on / for 8/4/22   ·   Next:  ‘8-K’ on / for 11/3/22   ·   Latest:  ‘8-K’ on / for 2/28/24   ·   6 References:   

Find Words in Filings emoji
 
  in    Show  and   Hints

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/30/22  ACRES Commercial Realty Corp.     8-K:1,2,9   8/29/22   12:2.3M                                   ActiveDisclosure/FA

Current Report   —   Form 8-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     67K 
 2: EX-10.1     Material Contract                                   HTML   1.89M 
 7: R1          Document and Entity Information                     HTML     53K 
10: XML         IDEA XML File -- Filing Summary                      XML     12K 
 8: XML         XBRL Instance -- acr-8k_20220829_htm                 XML     22K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      8K 
 4: EX-101.DEF  XBRL Definitions -- acr-20220829_def                 XML     42K 
 5: EX-101.LAB  XBRL Labels -- acr-20220829_lab                      XML     70K 
 6: EX-101.PRE  XBRL Presentations -- acr-20220829_pre               XML     43K 
 3: EX-101.SCH  XBRL Schema -- acr-20220829                          XSD     19K 
11: JSON        XBRL Instance as JSON Data -- MetaLinks               14±    22K 
12: ZIP         XBRL Zipped Folder -- 0001564590-22-030483-xbrl      Zip    261K 


‘8-K’   —   Current Report


This is an HTML Document rendered as filed.  [ Alternative Formats ]



 iX:   C:   C:   C:   C:   C:   C: 
 i false  i 0001332551 0001332551 2022-08-29 2022-08-29 0001332551 us-gaap:CommonStockMember 2022-08-29 2022-08-29 0001332551 us-gaap:SeriesCPreferredStockMember 2022-08-29 2022-08-29 0001332551 us-gaap:SeriesDPreferredStockMember 2022-08-29 2022-08-29

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM  i 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  i August 29, 2022

 

 i ACRES Commercial Realty Corp.

(Exact name of registrant as specified in its charter)

 

 i Maryland

 

 i 1-32733

 

 i 20-2287134

(State or other jurisdiction of

 

(Commission File Number)

 

(IRS Employer Identification No.)

incorporation)

 

 

 

 

 

 

 

 

 

 i 390 RXR Plaza

 

 

 

 

 i Uniondale,  i NY

 

 

 

 i 11556

(Address of principal executive offices)

 

 

 

(Zip Code)

 

 

 

 

 

Registrant’s telephone number, including area code:  i 516- i 535-0015

 

 

 

 

 

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 i 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

 i 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

 i 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

 i 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

 i Common Stock, $0.001 par value per share

 

 i ACR

 

 i New York Stock Exchange

 i 8.625% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock

 

 i ACRPrC

 

 i New York Stock Exchange

 i 7.875% Series D Cumulative Redeemable Preferred Stock

 

 i ACRPrD

 

 i New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  i 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


 

Item 1.01

Entry Into a Material Definitive Agreement.

As previously reported, on July 31, 2020, RCC Real Estate SPE Holdings LLC (“Holdings”), an indirect, wholly-owned subsidiary of ACRES Commercial Realty Corp., and RCC Real Estate SPE 9 LLC (the “Borrower”), a direct, wholly-owned subsidiary of Holdings, entered into a $250 million Loan and Servicing Agreement (“Loan and Servicing Agreement”), as amended, with Massachusetts Mutual Life Insurance Company (“MassMutual”), the other lenders party thereto (the “Lenders”), Wells Fargo Bank, National Association, as the administrative agent and collateral custodian, MassMutual, as the facility servicer, and ACRES Capital Servicing LLC, an affiliate of ACRES Capital, LLC, as the portfolio servicer. Capitalized terms used but not defined herein have the same meanings as in the Loan Agreement, a copy of which was included as Exhibit 10.2 to our current report on Form 8-K filed on August 4, 2020 and is incorporated herein by reference.

On August 29, 2022, Holdings, the Borrower and the Lenders entered into the Sixth Amendment to Loan and Servicing Agreement (the “Amendment”) to extend the Availability Period from August 31, 2022 to October 15, 2022.

The foregoing description of the Amendment is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

 

 

Item 2.03

 

 

Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated herein by reference.

 

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit No.

 

Description

10.1

 

Sixth Amendment to Loan and Servicing Agreement, dated as of August 29, 2022, among RCC Real Estate SPE Holdings LLC, RCC Real Estate SPE 9 LLC, Massachusetts Mutual Life Insurance Company and Wells Fargo Bank, National Association, as the Administrative Agent.

 

 

 

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 


 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ACRES COMMERCIAL REALTY CORP.

 

 

 

 

 

Date:

August 30, 2022

 

 

 

 

 

 

By:

/s/ David J. Bryant

 

 

 

 

David J. Bryant

 

 

 

 

Chief Financial Officer

 

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
10/15/22
8/31/22
Filed on:8/30/22
For Period end:8/29/22
8/4/204,  8-K
7/31/203,  4
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/07/24  ACRES Commercial Realty Corp.     10-K       12/31/23  150:29M                                    Donnelley … Solutions/FA
11/07/23  ACRES Commercial Realty Corp.     10-Q        9/30/23  125:26M                                    Donnelley … Solutions/FA
 8/07/23  ACRES Commercial Realty Corp.     10-Q        6/30/23  123:27M                                    Donnelley … Solutions/FA
 5/08/23  ACRES Commercial Realty Corp.     10-Q        3/31/23  123:24M                                    Donnelley … Solutions/FA
 3/07/23  ACRES Commercial Realty Corp.     10-K       12/31/22  156:40M                                    Donnelley … Solutions/FA
11/07/22  ACRES Commercial Realty Corp.     10-Q        9/30/22  120:26M                                    ActiveDisclosure/FA
Top
Filing Submission 0001564590-22-030483   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
AboutPrivacyRedactionsHelp — Fri., Mar. 29, 9:46:26.1am ET