Axar Capital Management LP (“Axar Capital”), an opportunistic corporate credit investor focused on the U.S. middle market announced a strategic investment in ACRES Capital Corp. (“ACRES”), a leading private commercial real estate lender and SEC-registered investment adviser focused on originating, underwriting and managing real estate credit throughout the U.S.
The transaction enables ACRES to refinance existing indebtedness and supports its continued growth across key sectors including Class A multifamily, student housing, hospitality, office, and industrial properties. Terms of the transaction were not disclosed.
“Axar Capital is a terrific partner for us as we enter a new phase of growth and execution,” said Mark Fogel, President and Chief Executive Officer of ACRES. “Axar’s deep, strategic expertise in financial services and long-term, fundamentals-driven approach to management aligns with our vision and business objectives. Additionally, their resources enhance our ability to further scale our commercial real estate lending platform to capitalize on the growing number of high-quality opportunities in key U.S. markets.”
“ACRES has a strong track record and reputation in the US CRE markets. Our investment in ACRES reflects our confidence in Mark and the exceptional management team and the growing opportunity in this asset class, ” said Grant Mitchell, Partner at Axar Capital. “We see a significant opportunity to support ACRES’ next phase of growth and believe this partnership positions the platform to scale thoughtfully while they continue to deliver strong returns to their clients.”
The partnership reinforces ACRES’ position as a flexible and highly capable capital provider in the evolving commercial real estate credit landscape.
Headquartered in New York with offices throughout the US, ACRES focuses on Class A multifamily, student housing, hospitality, office, and industrial lending across major U.S. markets.
Axar Capital Management LP is a value-oriented investment firm focused on opportunistic credit and special situations in the U.S. middle market. With a deep understanding of complex capital structures and cycles, Axar partners with companies and platforms to unlock long-term value.
