RELATED PARTY TRANSACTIONS (Relationship with ACRES Capital Corp and Certain of its Subsidiaries) (Details)
|
|
|
1 Months Ended |
3 Months Ended |
6 Months Ended |
12 Months Ended |
|
|
|
Mar. 05, 2026
$ / shares
shares
|
Jul. 31, 2020
USD ($)
Extension
|
Mar. 31, 2026
USD ($)
$ / shares
shares
|
Mar. 31, 2025
USD ($)
|
Sep. 30, 2024
USD ($)
|
Jun. 30, 2026
USD ($)
CreWholeLoanCommitments
$ / shares
shares
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2026
USD ($)
CreWholeLoanCommitments
$ / shares
shares
|
Jun. 30, 2025
USD ($)
shares
|
Dec. 31, 2025
USD ($)
$ / shares
shares
|
Apr. 29, 2026
$ / shares
shares
|
Jul. 31, 2025
USD ($)
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Base management fees paid by the Company |
|
|
|
|
|
$ 1,564,000
|
$ 1,601,000
|
$ 3,125,000
|
$ 3,232,000
|
|
|
|
| Incentive management fee pursuant to the management agreement |
|
|
|
|
|
$ 0
|
0
|
$ 0
|
$ 0
|
|
|
|
| Incentive Compensation Shares Payable | shares |
|
|
|
|
|
|
|
0
|
0
|
|
|
|
| Description related to Plan of Merger Agreement |
|
|
|
|
|
|
|
On April 29, 2026, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ACRES Holdings Sub LLC (“Merger Sub”), a subsidiary of the Company, on one hand and ACRES Capital Corp. (“ACC”) and the Manager, on the other hand, pursuant to which ACC will be merged with and into Merger Sub, with Merger Sub surviving as a wholly-owned subsidiary of the Company (the “Merger”). As a result of the Merger, among other things, (i) the Company will acquire the Manager, (ii) the Manager will cease to perform any outside management services for the Company, (iii) the Company and the Manager will terminate the existing Management Agreement between the parties, and (iv) the Company will become internally managed (the “Internalization”).
|
|
|
|
|
| Common Stock, Par or Stated Value Per Share | $ / shares |
|
|
|
|
|
$ 0.001
|
|
$ 0.001
|
|
$ 0.001
|
|
|
| Common Stock, Shares Authorized | shares |
|
|
|
|
|
41,666,666
|
|
41,666,666
|
|
41,666,666
|
|
|
| Common Stock, Shares, Issued | shares |
|
|
|
|
|
7,131,101
|
|
7,131,101
|
|
6,887,451
|
|
|
| General and administrative |
|
|
|
|
|
$ 2,722,000
|
2,736,000
|
$ 5,758,000
|
$ 5,895,000
|
|
|
|
| Interest income |
|
|
|
|
|
38,400,000
|
28,831,000
|
72,760,000
|
57,557,000
|
|
|
|
| Accrued interest receivable |
|
|
|
|
|
33,636,000
|
|
33,636,000
|
|
$ 27,259,000
|
|
|
| CRE whole loan commitment |
|
|
|
|
|
29,100,000
|
|
29,100,000
|
|
|
|
$ 45,800,000
|
| Total loan amount sold |
|
|
|
|
|
$ 120,000,000
|
|
$ 120,000,000
|
|
|
|
72,000,000
|
| Unvested shares, end of period (in shares) | shares |
|
|
|
|
|
55,559
|
|
55,559
|
|
|
|
|
| Number of CRE whole loan commitments | CreWholeLoanCommitments |
|
|
|
|
|
2
|
|
2
|
|
|
|
|
| Non-controlling interests |
|
|
|
|
|
$ 136,913,000
|
|
$ 136,913,000
|
|
129,796,000
|
|
|
| ACRES SPE 2025-1, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Non-controlling interests |
|
|
$ 1,100,000
|
|
|
|
|
|
|
125,000,000
|
|
|
| CRE Whole Loan Commitments One |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| CRE whole loan commitments, purchased |
|
|
|
|
|
61,400,000
|
|
$ 61,400,000
|
|
|
|
|
| Subsidiary of ACRES Mortgage Fund, Ltd. | ACRES SPE 2025-1, LLC |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Share of risk percentage |
|
|
|
|
|
|
|
43.20%
|
|
|
|
|
| Distribution payable balance |
|
|
|
|
|
516,000
|
|
$ 516,000
|
|
516,000
|
|
|
| Non-controlling interests |
|
|
|
|
|
135,200,000
|
|
135,200,000
|
|
125,000,000
|
|
|
| Earnings related to operations |
|
|
|
|
|
2,600,000
|
|
6,000,000
|
|
|
|
|
| Manager Pursuant To Management Agreement |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Incentive management fee pursuant to the management agreement |
|
|
|
|
|
|
|
0
|
|
|
|
|
| Manager Pursuant To Management Agreement | ACRES Commercial Realty Corp |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Base management fees paid by the Company |
|
|
|
|
|
1,600,000
|
1,600,000
|
3,100,000
|
3,200,000
|
|
|
|
| Incentive compensation |
|
|
|
|
|
0
|
0
|
0
|
0
|
|
|
|
| Incentive management fee pursuant to the management agreement |
|
|
|
|
|
|
|
0
|
|
0
|
|
|
| Total indebtedness |
|
|
|
|
|
521,000
|
|
521,000
|
|
|
|
|
| General and administrative |
|
|
|
|
|
843,000
|
1,200,000
|
1,900,000
|
2,300,000
|
|
|
|
| Manager Pursuant To Management Agreement | ACRES Commercial Realty Corp | Other Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Total indebtedness |
|
|
|
|
|
1,200,000
|
|
1,200,000
|
|
466,000
|
|
|
| ACRES Capital Corp |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Common Stock, Par or Stated Value Per Share | $ / shares |
|
|
|
|
|
|
|
|
|
|
$ 0.0001
|
|
| Common Stock, Shares Authorized | shares |
|
|
|
|
|
|
|
|
|
|
2.61882
|
|
| Total loan amount sold |
|
|
|
|
|
|
|
|
|
|
|
$ 344,000
|
| ACRES Capital Corp | XAN 2020-RSO9 Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Portfolio servicing fees |
|
|
|
|
|
0
|
0
|
0
|
0
|
|
|
|
| Special servicing fees |
|
|
|
|
|
|
0
|
|
182,000
|
|
|
|
| ACRES Capital Corp | Loan Evidenced by Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Increase in principal balance |
|
|
|
$ 7,000,000
|
|
|
|
|
|
|
|
|
| ACRES Capital Corp | ACRES Commercial Realty Corp | Loan Evidenced by Promissory Note |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Related party transaction, loan amount |
|
$ 12,000,000
|
|
|
|
|
|
|
|
|
|
|
| Related party transaction, interest rate |
|
3.00%
|
|
|
|
|
|
|
|
|
|
|
| Related party transaction, monthly amortization payment |
|
$ 25,000
|
|
|
|
|
|
|
|
|
|
|
| Related party debt, maturity month and year |
|
2026-07
|
|
|
|
|
|
|
|
|
|
|
| Number of options to extend | Extension |
|
2
|
|
|
|
|
|
|
|
|
|
|
| Related party debt, extension term |
|
1 year
|
|
|
|
|
|
|
|
|
|
|
| Related party debt, percentage of extension fee |
|
0.50%
|
|
|
|
|
|
|
|
|
|
|
| Principal balance |
|
|
|
|
|
10,300,000
|
|
10,300,000
|
|
10,400,000
|
|
|
| Accrued interest receivable |
|
|
|
|
|
26,000
|
|
26,000
|
|
0
|
|
|
| ACRES Capital Corp | ACRES Commercial Realty Corp | Loan Evidenced by Promissory Note | Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income |
|
|
|
|
|
78,000
|
80,000
|
156,000
|
160,000
|
|
|
|
| ACRES Commercial Realty |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Common Stock, Par or Stated Value Per Share | $ / shares |
|
|
|
|
|
|
|
|
|
|
$ 0.001
|
|
| Common Stock, Shares, Issued | shares |
|
|
|
|
|
|
|
|
|
|
7,500,000
|
|
| DevCo |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Fees payments |
|
|
|
|
|
$ 0
|
0
|
$ 0
|
$ 0
|
|
|
|
| DevCo | Minimum |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Market rate for fees |
|
|
|
|
|
|
|
1.25%
|
|
|
|
|
| DevCo | Maximum |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Market rate for fees |
|
|
|
|
|
|
|
|
1.50%
|
|
|
|
| A C R E S Share Holdings L L C [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Shares of common stock issued | shares |
243,640
|
|
|
|
|
|
|
|
|
|
|
|
| Book value target | $ / shares |
$ 30
|
|
$ 30
|
|
|
|
|
|
|
|
|
|
| Shares of common stock vest percentage |
25.00%
|
|
25.00%
|
|
|
|
|
|
|
|
|
|
| Vesting period |
4 years
|
|
4 years
|
|
|
|
|
|
|
|
|
|
| Charter limitation |
9.80%
|
|
9.80%
|
|
|
|
|
|
|
|
|
|
| Allowable percentage |
18.00%
|
|
18.00%
|
|
|
|
|
|
|
|
|
|
| A C R E S Share Holdings L L C [Member] | Common Stock |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Shares of common stock issued | shares |
|
|
204,765
|
|
|
|
|
|
|
|
|
|
| A C R E S Share Holdings L L C [Member] | Manager |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Shares of common stock issued | shares |
|
|
|
|
|
0
|
|
|
0
|
|
|
|
| Shares of common stock vest percentage |
|
|
|
|
|
|
|
25.00%
|
|
|
|
|
| Vesting period |
|
|
|
|
|
|
|
4 years
|
|
|
|
|
| McCallum JV LLC |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Senior loan revenue recognized |
|
|
|
|
|
$ 622,000
|
617,000
|
$ 1,200,000
|
$ 1,200,000
|
|
|
|
| Accrued interest outstanding |
|
|
|
|
|
|
|
1,300,000
|
|
916,000
|
|
|
| McCallum JV LLC | Subsidiary of ACRES Realty Funding, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Related party transaction, loan amount |
|
|
|
|
$ 33,700,000
|
|
|
|
|
|
|
|
| Mezzanine loan commitment |
|
|
|
|
$ 1,500,000
|
|
|
|
|
|
|
|
| Ownership interest |
|
|
|
|
50.00%
|
|
|
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
|
2.75%
|
|
|
|
|
|
|
|
| Fixed rate of interest on loan |
|
|
|
|
20.00%
|
|
|
|
|
|
|
|
| Initial maturity date |
|
|
|
|
Sep. 05, 2027
|
|
|
|
|
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
|
|
|
One Month Term SOFR [Member]
|
|
|
|
|
|
|
|
| Pacmulti JV LLC |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Senior loan revenue recognized |
|
|
|
|
|
$ 1,300,000
|
$ 1,600,000
|
2,500,000
|
$ 1,700,000
|
|
|
|
| Accrued interest outstanding |
|
|
|
|
|
|
|
$ 5,600,000
|
|
$ 4,800,000
|
|
|
| Pacmulti JV LLC | Subsidiary of ACRES Realty Funding, Inc |
|
|
|
|
|
|
|
|
|
|
|
|
| Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
| Related party transaction, loan amount |
|
|
|
70,800,000
|
|
|
|
|
|
|
|
|
| Mezzanine loan commitment |
|
|
|
$ 13,500,000
|
|
|
|
|
|
|
|
|
| Ownership interest |
|
|
|
50.00%
|
|
|
|
|
|
|
|
|
| Basis spread on variable rate |
|
|
|
3.41%
|
|
|
|
|
|
|
|
|
| Fixed rate of interest on loan |
|
|
|
15.00%
|
|
|
|
|
|
|
|
|
| Initial maturity date |
|
|
|
May 05, 2030
|
|
|
|
|
|
|
|
|
| Investment, Variable Interest Rate, Type [Extensible Enumeration] |
|
|
|
One Month Term SOFR [Member]
|
|
|
|
|
|
|
|
|