Exhibit 99.1 ARES COMMERCIAL REAL ESTATE CORPORATION REPORTS FIRST QUARTER 2024 RESULTS First quarter GAAP net income (loss) of $(12.3) million or $(0.23) per diluted common share and Distributable Earnings (Loss)(1) of $(33.5) million or $(0.62) per diluted common share - Subsequent to three months ended March 31, 2024 - Declared second quarter 2024 dividend of $0.25 per common share NEW YORK—(BUSINESS WIRE)—Ares Commercial Real Estate Corporation (the “Company”) (NYSE:ACRE), a specialty finance company en ...