Ares Commercial Real Estate Corp. (NYSE: ACRE) is buying EF&A Funding LLC, which does business as Alliant Capital LLC, for $62.8 million.
Alliant focuses on multifamily real-estate lending. The company has a servicing portfolio of $3.9 billion in multifamily loans.
The deal should allow Chicago-based Ares to meet the needs of multifamily real-estate owners. Ares originates, invests and manages middle-market commercial real estate loans and other real estate investments.
Credit Suisse Securities (USA) LLC was Ares’ financial adviser.
Deals in the real estate sector are creating an uptick in M&A in related companies. In May, Trulia Inc. (NYSE: TRLA) announced it was buying Market Leader Inc. (Nasdaq: LEDR), which provides customer management software for the real estate sector, for $355 million. In April, Annaly Capital Mangaement (NYSE: NLY) agreed to pay $720.8 million for a larger stake in commercial mortgage loan investor CreXus Investment Corp. (NYSE: CXS).
On May 10, Ares Management LLC announced it was buying Area Property Partners LP. Ares Management is the parent company of Ares Commercial Real Estate.