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CHICAGO—Ares Commercial Real Estate Corporation has just closed its acquisition of EF&A Funding, L.L.C, d/b/a Alliant Capital LLC, for about $61 million through a combination of $52.9 million in cash and the issuance of 588,235 shares of ACRE stock worth $7.4 million. The Chicago-based ACRE first announced the deal last spring. Alliant is a financial services company focused on originating and servicing multi-family loans for various GSEs, primarily through the Fannie Mae Delegated Underwriting and Servicing program.

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