Ares Commercial Real Estate Corporation (NYSE:ACRE) Q3 2019 Earnings Conference Call - Final Transcript
Nov 08, 2019 • 09:00 am ET
Good morning and welcome to Ares Commercial Real Estate Corporation's conference call to discuss the company's third Quarter 2019 earnings results. [Operator Instructions]
I will now turn the call over to Veronica Mayer from Investor Relations.
Veronica Mendiola Mayer
Thank you Aili. Good morning and thank you for joining us on today's conference call. I am joined today by Bill Benjamin our Chairman and Head of the Real Estate Group of Ares Management; our CEO Jamie Henderson; David Roth our President; Tae-Sik Yoon our CFO; and Carl Drake Head of Investor Relations. In addition to our press release and the 10-Q that we filed with the SEC we have posted an earnings presentation under the Investor Resources section of our website at www.arescre.com. Before we begin I want to remind everyone that comments made during the course of this conference call and webcast and the accompanying documents contain forward-looking statements and are subject to risks and uncertainties. Many of these forward-looking statements can be identified by the use of the words such as anticipates believes expects intends will should may and similar expressions. These forward-looking statements are based on management's current expectations of market conditions and management's judgment. These statements are not guarantees of future performance condition or results and involve a number of risks and uncertainties.
The company's actual results could differ materially from those expressed in the forward-looking statements as a result of a number of factors including those listed in its SEC filings. Ares Commercial Real Estate Corporation assumes no obligation to update any such forward-looking statements. During this conference call we will refer to certain non-GAAP financial measures. We use these as measures of operating performance and these measures should not be considered in isolation from or as a substitute for measures prepared in accordance with generally accepted accounting principles. These measures may not be comparable to like like-titled measures used by other companies.
I will now turn the call over to Jamie Henderson.
Thank you Veronica. Good morning everyone and thank you for joining us today. As you may have seen this morning we announced that I will be stepping down as CEO of ACRE on December 5. But I am continuing in my position as a Director on the Board. In addition I will remain at Ares through the end of this year. This is a bittersweet decision for me but one that is in the best interest of my family. In addition I feel that I'm leaving the company in an outstanding position with a Board with extensive experience led by Bill Benjamin and a deep and highly capable management team led by our President David Roth Tae-Sik Yoon; and J.B Gerber our Head of Originations. I also think very highly of Bryan Donohoe our new CEO and I can say with great conviction that he will do an excellent job leading ACRE in this next chapter of growth. I'm very proud of all that our team has accomplished together over the last several years. We have