ACRES Commercial Realty Corp. Announces Appointment of Two New Members to its Board of Directors
June 10, 2021 at 04:10 pm EDT
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ACRES Commercial Realty Corp. announced that Karen Edwards and Dawanna Williams have been appointed to its Board of Directors. Ms. Edwards brings 30 years of experience in the financial services industry including 13 years serving on the board of a commercial mortgage REIT. Ms. Williams has 20 years of real estate experience and provides valuable insights into current and future developments in the industry through her real estate legal experience. Karen Edwards is a Partner with Boyden Global Executive Search. Previously she was President and Chief Executive Officer of Kosiba Edwards Associates. She co-founded the investment banking group of Friedman, Billings Ramsey & Co. in 1992 and later worked in asset management for GenSpring Family Offices (now part of Truist Bank). A Chartered Financial Analyst, Ms. Edwards serves on the Board of Trustees of the Darden School at the University of Virginia. Ms. Edwards previously served as a director of Arbor Realty Trust where she sat on the Nominating & Governance Committee and the Audit Committee. Dawanna Williams is the founder of Dabar Development Partners, a real estate development and investment firm focused on the conversion, renovation and new construction of real estate properties primarily in New York City, and has been its Managing Principal since September 2003. Additionally, she serves on the Boards of the New York Real Estate Chamber, the New York City Trust for Cultural Resources, and the Apollo Theater, chairing its Real Estate Committee. Previously, Ms. Williams was General Counsel of Victory Education Partners, and began her career in various roles at Paul Hastings and Sidley Austin LLP.
ACRES Commercial Realty Corp. is a real estate investment trust. The Company is primarily focused on originating, holding and managing commercial real estate (CRE) mortgage loans and equity investments in commercial real estate property through direct ownership and joint ventures. The Company is externally managed by ACRES Capital, LLC, a subsidiary of ACRES Capital Corp. (ACRES), a private commercial real estate lender dedicated to nationwide middle market CRE lending with a focus on multifamily, student housing, hospitality, industrial and office property in top United States markets. Its objective is to provide its stockholders with total returns over time, including the payment of quarterly distributions when approved by its board of directors and capital appreciation, while seeking to manage the risks associated with its investment strategies. It invests in CRE whole loans, CRE mezzanine loans and CRE equity investments.