Ares Commercial Real Estate Corporation's subsidiaries, ACRC Lender MS LLC and ACRC Lender MS II LLC, entered into an Eighth Amendment to their Master Repurchase Agreement and Securities Contract (the Morgan Stanley Facility) with Morgan Stanley Bank, N.A. The initial maturity date of the Morgan Stanley Facility has been extended to July 16, 2029. The facility includes an option for a further 12-month extension, which may be exercised at the subsidiaries' option with Morgan Stanley's consent, subject to certain conditions and the payment of an extension fee. The facility commitment has been increased from $250 million to $350 million. An accordion provision allows for a further increase of $50 million, bringing the total potential commitment to $400 million, subject to the satisfaction of certain conditions and the payment of an upsize fee. An upsize fee of $78,082.19 was paid for the initial increase in the facility amount.