{"id":1004073826,"date":"2013-05-16T05:37:56","date_gmt":"2013-05-16T13:37:56","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004073826"},"modified":"2022-12-06T01:11:30","modified_gmt":"2022-12-06T09:11:30","slug":"alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\/","title":{"rendered":"Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

In the second and third major moves in less than a week, Ares Commercial Real Estate Corp., Chicago, has agreed to acquire EF&A Funding L.L.C. (d\/b\/a Alliant Capital L.L.C.) for about $62.8 million in cash and stock and has also named a new co-CEO, Todd Schuster, the REIT announced Wednesday.<\/p>\n

Alliant Capital L.L.C. will become a wholly owned taxable REIT subsidiary of ACRE. (Alliant Capital Ltd., which provides affordable housing tax credit equity, is not included in the acquisition and will remain a part of The Alliant Co.)<\/p>\n

Alliant Capital L.L.C. focuses on lending, asset management and servicing in the multi-family sector and specializes in the origination and servicing of multi-family loans through the Fannie Mae DUS program. Its servicing portfolio is about $3.9 billion in multi-family loans with mortgage servicing rights at a fair value of about $61.0 million.<\/p>\n

In addition, Alliant Capital L.L.C. recently was approved to originate loans insured by the Federal Housing Administration and to securitize those loans through Ginnie Mae.<\/p>\n

Schuster\u2019s appointment as co-CEO of ACRE, where he joins existing CEO John Bartling Jr., clearly is connected to the Alliant Capital acquisition, because Schuster is a board member of an affiliate of Alliant Capital L.L.C., as well as a current ACRE board member.<\/p>\n

\u201cAs a leading commercial real estate finance CEO, Todd\u2019s significant insights in running GSE and FHA\/Ginnie Mae platforms will be invaluable to the success of this acquisition,\u201d Bartling said in a release.<\/p>\n

Schuster was the founder of CW Financial Services and its CEO from 1991 to 2009.<\/p>\n

Through a spokesperson, Ares declined to comment further on either action.<\/p>\n

These moves are hard on the heels of last week\u2019s announcement by ACRE parent Ares Management L.L.C., Los Angeles, that it would purchase AREA Property Partners, essentially quadrupling Ares Management\u2019s total committed capital, to $8 billion,<\/a> once AREA\u2019s real estate equity investments in North America and Europe are added.<\/p>\n

The Alliant Capital acquisition, Bartling said \u201cwill enable ACRE to better meet the short- and long-term financing needs of multi-family owner\/operators in an asset class that has performed well over the long-term, especially in the past five years.\u201d<\/p>\n

It\u2019s reportedly expected to benefit ACRE shareholders in several ways.<\/p>\n

* Alliant Capital L.L.C.\u2019s national direct origination platform focused on Fannie Mae and FHA\/Ginnie Mae multi-family loans scales up ACRE\u2019s platform and enhances its direct origination capabilities.<\/p>\n

* The addition of Alliant Capital L.L.C.\u2019s focus on long-term multi-family GSE loans to ACRE\u2019s background in providing multi-family bridge loans will let ACRE offer \u201ca complete turnkey financial solution for multi-family owners\/operators seeking short- and long-term financing options.\u201d<\/p>\n

* Adding Alliant Capital L.L.C.\u2019s $3.9 billion servicing portfolio (about 1,000 loans) diversifies ACRE\u2019s revenue stream.<\/p>\n","protected":false},"excerpt":{"rendered":"

In its second and third major moves in less than a week, Ares Commercial Real Estate REIT has agreed to acquire EF&A Funding Alliant Capital for $63 million in cash and stock, and has also named a new co-CEO, Todd Schuster.<\/p>\n","protected":false},"author":882,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,13,21742],"tags":[],"class_list":["post-1004073826","post","type-post","status-publish","format-standard","hentry","category-chicago","category-investment","category-midwest","category-latest"],"acf":[],"yoast_head":"\nAlliant Capital Purchase, New Co-CEO Give Ares a Trifecta - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta\" \/>\n<meta property=\"og:description\" content=\"In its second and third major moves in less than a week, Ares Commercial Real Estate REIT has agreed to acquire EF&A Funding Alliant Capital for $63 million in cash and stock, and has also named a new co-CEO, Todd Schuster.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-05-16T13:37:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T09:11:30+00:00\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta\",\"datePublished\":\"2013-05-16T13:37:56+00:00\",\"dateModified\":\"2022-12-06T09:11:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/\"},\"wordCount\":488,\"commentCount\":0,\"articleSection\":[\"Chicago\",\"Investment\",\"Midwest\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alliant-capital-purchase-new-co-ceo-give-ares-a-trifecta\\\/\",\"name\":\"Alliant Capital Purchase, New Co-CEO Give Ares a Trifecta - 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