Bryan Donohoe Appointed New Chief Executive Officer of ACRE
November 08 2019 - 06:00AM
Business Wire
Jamie Henderson to Step Down as CEO and
CIO and Remain as Board Director of ACRE
Ares Commercial Real Estate Corporation (NYSE: ACRE) announced
today that its Board of Directors has appointed Bryan Donohoe as
Chief Executive Officer, effective December 5, 2019. Mr. Donohoe
will join ACRE’s senior management team alongside its President,
David Roth, Chief Financial Officer, Tae-Sik Yoon and Head of
Originations, John Gerber. Mr. Donohoe has also been named Partner
in the Ares Real Estate Group and Head of Real Estate Debt. Mr.
Donohoe succeeds Jamie Henderson who will be stepping down as Chief
Executive Officer and Chief Investment Officer on December 5, 2019.
Mr. Henderson will remain with Ares Management until the end of
2019 and he will continue as a Board Director of ACRE. Mr.
Henderson plans to pursue another opportunity that affords him more
time with his family.
“We are very pleased that Bryan will be joining Ares and ACRE
alongside our existing executive team,” said Bill Benjamin,
Chairman of the Board of ACRE and Head of the Real Estate Group at
Ares Management. “Bryan is an accomplished real estate executive
with a demonstrated track record and we are highly confident that
he is well suited to execute on our plans for continued strong
growth in the years to come.”
“I am delighted to be joining ACRE’s talented executive team and
the broader Ares real estate debt platform that I have known and
admired in the marketplace for many years,” said Mr. Donohoe,
incoming CEO of ACRE and Head of Real Estate Debt at Ares
Management. “I believe ACRE is very well positioned from a
financial and strategic standpoint and look forward to the
opportunity to continue to build on the Company’s successes of the
past several years and further enhance shareholder value.”
Mr. Donohoe brings approximately two decades of real estate
experience with an extensive background originating and structuring
investments. Most recently, Mr. Donohoe was a Managing Director for
Commercial Real Estate Debt in AllianceBernstein’s Real Estate
Investment Group. Mr. Donohoe was also a senior professional at
Ranieri Real Estate Partners and formerly spent 10 years at
Deutsche Bank, where he originated, structured and closed over $10
billion of first mortgage loans in addition to structuring, pricing
and disposing of over $4 billion of B notes and mezzanine debt. He
holds a BA in political science from Middlebury College.
“We want to thank Jamie for all of his many contributions, which
included significantly enhancing ACRE’s profitability, expanding
its origination activities and growing shareholder value during his
tenure,” continued Mr. Benjamin. “He led the expansion of our real
estate debt platform by adding talented professionals in new
markets and is leaving us very well positioned for the next chapter
of our growth. We look forward to continuing to work with Jamie and
we wish him success.”
“I am very proud of all that we have accomplished together over
the last several years,” said Jamie Henderson, outgoing Chief
Executive Officer and Chief Investment Officer of ACRE and Head of
Real Estate Debt at Ares Management. “I am highly confident that
ACRE is well positioned for continued growth and success in the
future under Bryan’s and the executive team’s leadership and I look
forward to making future contributions as a Director.”
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation is a specialty finance
company primarily engaged in originating and investing in
commercial real estate loans and related investments. Through its
national direct origination platform, the Company provides a broad
offering of flexible and reliable financing solutions for
commercial real estate owners and operators. The Company originates
senior mortgage loans, as well as subordinate financings, mezzanine
debt and preferred equity, with an emphasis on providing value
added financing on a variety of properties located in liquid
markets across the United States. Ares Commercial Real Estate
Corporation elected and qualified to be taxed as a real estate
investment trust and is externally managed by a subsidiary of Ares
Management Corporation. For more information, please visit
www.arescre.com. The contents of such website are not, and should
not be deemed to be, incorporated by reference herein.
Forward-Looking Statements
Statements included herein, may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities and Exchange Act of 1934,
as amended, which relate to future events or the Company’s future
performance or financial condition. These statements are not
guarantees of future performance, condition or results and involve
a number of risks and uncertainties. Actual results may differ
materially from those in the forward-looking statements as a result
of a number of factors, including the risks described from time to
time in its filings with the Securities and Exchange Commission.
Any forward-looking statement, including any contained herein,
speaks only as of the time of this press release and Ares
Commercial Real Estate Corporation undertakes no duty to update any
forward-looking statements made herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20191108005096/en/
Media: Mendel Communications Bill Mendel, 212-397-1030
bill@mendelcommunications.com or Investor Relations: Ares
Commercial Real Estate Corporation Carl Drake or Veronica Mayer
888-818-5298 iracre@aresmgmt.com
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