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Ares Commercial Real Estate Corporation Appoints Rebecca Parekh to its Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Ares Commercial Real Estate Corporation (NYSE: ACRE) has appointed Rebecca Parekh to its Board of Directors, expanding the board from seven to eight members. Ms. Parekh brings extensive experience in business strategy and finance, having previously served as COO for Deepak Chopra Radical Well-Being and held various roles at Deutsche Bank. Chairman Bill Benjamin and CEO Bryan Donohoe express confidence in her ability to enhance shareholder value amid record origination activity.
Positive
Appointment of Rebecca Parekh brings valuable experience in business strategy and finance.
Expansion of the Board of Directors may enhance governance and strategic oversight.
Record levels of origination activity suggest strong business momentum.
Negative
Potential continuity concerns as a new member joins the board.
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NEW YORK--(BUSINESS WIRE)--
Ares Commercial Real Estate Corporation announced today that it has appointed Rebecca Parekh to its Board of Directors, effective immediately. Ms. Parekh’s appointment expands the Board from seven to eight members, including six independent board members.
Ms. Parekh is the Co-Founder and Chief Executive Officer of The Well, a series of wellness facilities. Previously, she served as the Chief Operating Officer for Deepak Chopra Radical Well-Being, LLC. Prior to that, Ms. Parekh spent ten years at Deutsche Bank Securities, Inc., focused primarily on structured credit where she held various positions, including Head of the U.S. Private Institutional Client Group and Head of Cross Product Sales. In addition, Ms. Parekh served on the Steering Committee of the Bank’s Women’s Network.
“Rebecca is an accomplished leader with considerable experience in business strategy, management, organizational development and transformation and corporate finance,” said Bill Benjamin, Chairman of the Board of Directors of Ares Commercial Real Estate Corporation.
“On behalf of the management team, we are very pleased to have Rebecca join our Board,” said Bryan Donohoe, Chief Executive Officer of Ares Commercial Real Estate Corporation. “Rebecca joins us at an exciting time as origination activity has reached record levels. I am confident in her ability to represent our long-term interests and those of our stockholders as we continue to grow as a public company and execute on our strategic initiatives to enhance stockholder value.”
Ms. Parekh is also an active leader in the community serving as an Advisor to the Tufts Friedman School of Nutrition Entrepreneurship Program. She was the Co-Founder and Executive Director of the Global Foundation for Eating Disorders (GFED), a non-profit organization dedicated to funding medical research to advance cutting edge treatment in the field. She also sits on the board of several social impact companies and non-profit foundations. Ms. Parekh holds a bachelor’s degree in Biological Anthropology from the University of Michigan.
About Ares Commercial Real Estate Corporation
Ares Commercial Real Estate Corporation (NYSE: ACRE) is a specialty finance company primarily engaged in originating and investing in commercial real estate loans and related investments. Through its national direct origination platform, the Company provides a broad offering of flexible and reliable financing solutions for commercial real estate owners and operators. The Company originates senior mortgage loans, as well as subordinate financings, mezzanine debt and preferred equity, with an emphasis on providing value added financing on a variety of properties located in liquid markets across the United States. Ares Commercial Real Estate Corporation elected and qualified to be taxed as a real estate investment trust and is externally managed by a subsidiary of Ares Management, L.P. For more information, please visit www.arescre.com. The contents of such website are not, and should not be deemed to be, incorporated by reference herein.
Investor Relations:
Ares Commercial Real Estate Corporation Carl Drake or Veronica Mayer 888-818-5298
iracre@aresmgmt.com
Source: Ares Commercial Real Estate Corporation
FAQ
Who is Rebecca Parekh and what is her role in Ares Commercial Real Estate Corporation?
Rebecca Parekh is the newly appointed Board member at Ares Commercial Real Estate Corporation, bringing extensive experience in business strategy and finance.
What impact will Rebecca Parekh's appointment have on Ares Commercial Real Estate Corporation?
Her appointment is expected to enhance governance and strategic oversight, potentially benefiting shareholder value.
What recent developments has Ares Commercial Real Estate Corporation announced?
Ares Commercial Real Estate Corporation has announced the appointment of Rebecca Parekh to its Board of Directors.
How many members are on the board of Ares Commercial Real Estate Corporation now?
The board has expanded to eight members with the appointment of Rebecca Parekh.
When was Rebecca Parekh's appointment announced?
Rebecca Parekh's appointment was announced immediately effective as of the release date.
