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Company Description (as filed with the SEC)
ACRE Realty Investors Inc. is a commercial real estate investment and operating company focused on commercial real estate investments. On January 30, 2015, the company and A-III Investment Partners LLC ("A-III"), a joint venture between affiliates of Avenue Capital Group and C-III Capital Partners LLC, which is controlled by Island Capital Group LLC, closed a series of transactions that recapitalized our company and resulted in a change in control of our company. At the closing, A-III purchased 8,450,704 shares of our company's common stock at a purchase price of $1.42 per share, for an aggregate purchase price of $12,000,000, and our company issued to A-III warrants to purchase up to an additional 26,760,563 shares of our company's common stock at an exercise price of $1.42 per share ($38,000,000 in the aggregate). ... More ...