Ares Commercial Real Estate Corp. (ACRE) is acquiring Alliant Capital LLC, which will become a wholly owned taxable real estate investment trust (REIT) subsidiary of ACRE.
With approximately 90 employees located across 15 offices throughout the U.S., Alliant Capital is a financial services company focused on multifamily lending that has developed a ‘significant origination, asset management and servicing platform,’ ACRE says. As of March 31, Alliant Capital had a servicing portfolio of approximately $3.9 billion in multifamily loans, with mortgage servicing rights as of Dec. 31, 2012, at a fair value of approximately $61 million.
Alliant Capital has primarily originated and serviced multifamily loans through the Fannie Mae Delegated Underwriting and Servicing program. The company was also recently approved to originate loans insured by the Federal Housing Administration and to securitize those loans through Ginnie Mae.