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Ares Commercial closes $47 million in financing on Miami office building
Ares Commercial Real Estate Corporation has closed on a $47 million first mortgage loan that is collateralized by a Class B office property in Brickell, the company announced Tuesday. The deal, which closed at the end of September, is part of a total of $113 million in loans handled by the firm in the third quarter of 2012. Ares’ investment portfolio of loans has reached $191 million of carrying amount. Ares is a finance company that specializes in middle-market commercial real estate loans. — Alexander Britell