Acres Commercial Realty extends $250 million Morgan Stanley facility to November 2027
ACR•Acres Commercial Realty extended its subsidiary’s $250 million master repurchase facility with Morgan Stanley Bank to November 3, 2027, with changes to minimum EBITDA-to-interest coverage requirements.
1. Facility terms
The November 2, 2026, amendment sets minimum EBITDA-to-interest expense coverage at 1.15 times for quarters ending September 2026 through September 2027. The minimum rises to 1.25 times for December 2027 through March 2028, then to 1.35 times thereafter. Further one-year extensions require the consent of Morgan Stanley Mortgage Capital Holdings.
