Cornerstone Real Estate Advisers has agreed to acquire the multifamily agency lender ACRE Capital Holdings for $93 million, reports PDI sister title Real Estate Capital. The acquisition greatly expands the commercial loan origination platform at Cornerstone, nearly doubling the company’s multifamily loan portfolio from approximately $5 billion to $10 billion.
Cornerstone to buy ACRE Capital
The purchase will double Cornerstone’s $5bn multifamily real estate loan portfolio. Â
