Lending Firm Reports $10M GAAP Net Income; Portfolio Growth Hits 40%
1 report, 1 independent
Updated Fri 00:00
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What happened
A lending firm reported GAAP Net Income of $10.0 million, or $0.18 per diluted share, which included a $7.1 million gain from selling an office asset. Distributable Earnings reached $6.7 million, or $0.12 per diluted share, after a $300,000 gain from a Charlotte property exit. Quarterly repayments totaled $35 million, bringing year-to-date repayments to $146 million.
From aol.com
Why it matters
The firm reported portfolio growth of 40% over the past 12 months, supported by new loan commitments through the Ares platform. The loan portfolio remains stable, with 90% of carrying value net of reserves classified as Risk-Rated 1 to 3 loans.
From aol.com
Who's involved
- NewarkLocation where a loan repayment transaction occurred
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The entities involved
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Newark
city in Essex County, and largest city in New Jersey, United States