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Investor Relations

ACORE CAPITAL is one of the largest Investment Managers of U.S. commercial real estate debt, managing capital for investors located in the U.S., Canada, Europe, Middle East and Asia.1

We target compelling CRE investment opportunities to deliver attractive risk-adjusted returns while preserving capital.

Billion AUM2

$ 19 +

Billion Originated in Loans Averaging $76 Million

$ 38 +

Unique Borrowers

500 +

Repeat Borrowers

~ 50 %

with 3+ loans

79

Our CIO’s Market Outlook

The rapid rise in rates and corresponding widening of cap rates has led to depressed property values. This dynamic has created an opportunity to finance repriced assets at reset basis, with higher rates and associated price declines unlikely.3

ACORE CAPITAL’s View Real Estate Value Liquidity ACORE CAPITAL’s Concerns
Industrial
  • Bullish near & long term
  • Strong tenant demand
  • Moderate rental growth
  • New supply
  • Negative leverage
  • Cap rates
Multifamily
  • Cautious near term
  • Bullish long term
  • Home-ownership expensive
  • Widening cap rate
  • New supply
  • Declining rents
  • Insurance
Hospitality
  • Improving
  • ADR holding steady
  • Group business recovering slowly
  • Labor costs
  • Business travel
  • Potential recession
Retail
  • Cautious
  • Reset asset class
  • Need for brick & mortar
  • Tenant credit
  • E-Commerce
  • Discretionary spending
Self-Storage
  • Cautious
  • Existing tenants staying longer
  • Low vacancy in top markets
  • Residential sale
  • Cap rates
  • New supply
Office
  • Secular changes

“We believe the vintage of commercial real estate loans originated over the next two to three years may be the most attractive in decades, and ACORE CAPITAL is well positioned to capitalize on this opportunity.”3

Warren de Haan, CEO | September 27, 2023

Investment Committee

28 Years of Investment Committee Continuity
While working together as a leadership team for over 25 years, the founding members of the Investment Committee have originated over $75+ Billion.4

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Warren de Haan

Managing Partner & Chief Executive Officer

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Matthew Drummond

Senior Managing Director, Head of High Yield Strategies

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Stew Ward

Managing Partner

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Kyle Jeffers

Chief Investment Officer

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Chris Tokarski

Managing Partner

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Boyd Fellows

Managing Partner

Trusted Advisor for Commercial Real Estate Investment Strategies

Comprehensive Financing Solutions
Across the Risk and Return Spectrum

Focus on whole loan origination optimizes economics and
structure as a single-source solution, enhancing yield.
Preferred Equity and Convertible Preferred Equity
A-Note
First Mortgage
B-Note
Mezzanine
Preferred Equity
Convertible Preferred Equity
Floating rate loans provide protection in inflationary markets.

Disciplined Investment Process

ACORE CAPITAL’s disciplined credit analysis, loan structuring and pricing optimize risk-adjusted returns

1

Loan basis

  • Loan basis in the asset is as important as historical cash flow
  • Comparable property sales and rental rates over multiple cycles are examined
  • Sponsors commit significant cash equity for meaningful ‘skin in the game’
2

Borrower profile

  • Focus on institutional, well-capitalized operators and private equity firms
  • Target borrowers with a demonstrated track record of results with ACORE CAPITAL
  • Great borrower relationships result in off-market transactions and last looks
3

Business plan associated with the property for the project

  • Fully capitalized business plans with experienced teams
  • Deliver a desirable and competitive asset within the market upon completion
ESG

Investing For Insurance Clients

ACORE CAPITAL is one of the largest Investment Managers of U.S. commercial real estate debt specializing in customized separately managed accounts for insurance companies.

Approximately $17+ billion of our $19+ billion in assets under management is attributed to insurers.2

 

Investing For Insurance Clients

1 Source PERE May 2024 issue Real Estate Debt 50.

2 Assets Under Management (“AUM”) is calculated as follows: for all separately managed accounts (i) includes senior loan components if held by the ACORE client, (ii) excludes ACORE CAPITAL clients’ uncalled capital commitments and is net of impairments. For pooled investment vehicles, (i) includes total loan funded balances plus uncalled investor capital commitments and is net of impairments. Figures include both funded and committed unfunded amounts, as of 6.30.24.

All figures as of June 30, 2024 unless otherwise indicated.

3 Certain statements contained herein reflect the subjective views and opinions of ACORE CAPITAL and may include our general view of the market and expectations of the market in the future. Forward-looking statements are inherently uncertain and there is no guarantee that any projections or estimates about the future will materialize.

4 Timeframe includes the period that the founding Investment Committee members worked together at prior companies. Originations total as of 9.30.22. Kyle Jeffers and Matthew Drummond are members of the Investment Committee but are not founding members.