Ares Commercial Real Estate (ACRE) 10-K 5 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 02, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Ares Commercial Real Estate Corp
Entity Central Index Key	1529377
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$316,194,874
Entity Common Stock, Shares Outstanding		28,584,095
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS
Cash and cash equivalents ($47 related to consolidated VIEs as of December 31, 2014)	$16,551	$20,100
Restricted cash	66,121	16,954
Loans held for investment ($848,224 and $493,783 related to consolidated VIEs, respectively)	1,462,584	958,495
Loans held for sale, at fair value	203,006	89,233
Mortgage servicing rights, at fair value	58,889	59,640
Other assets ($3,438 and $2,552 of interest receivable related to consolidated VIEs, respectively; $18,352 of other receivables related to consolidated VIEs as of December 31, 2014 )	60,502	32,493
Total assets	1,867,653	1,176,915
LIABILITIES
Secured funding agreements	552,799	264,419
Warehouse lines of credit	193,165
Convertible notes	68,395	67,815
Commercial mortgage-backed securitization debt (consolidated VIE)	219,043	395,027
Collateralized loan obligation securitization debt (consolidated VIE)	308,703
Allowance for loss sharing	12,349	16,480
Due to affiliate	2,735	2,796
Dividends payable	7,147	7,127
Other liabilities ($498 and $384 of interest payable related to consolidated VIEs, respectively)	22,431	17,035
Total liabilities	1,386,767	770,699
Commitments and contingencies (Note 8)
EQUITY
Common stock, par value $0.01 per share, 450,000,000 shares authorized at December 31, 2014 and December 31, 2013, 28,586,915 and 28,506,977 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively	284	284
Additional paid-in capital	420,344	419,405
Accumulated deficit	-17,674	-13,473
Total stockholders' equity	402,954	406,216
Non-controlling interests in consolidated VIEs	77,932
Total Equity	480,886	406,216
Total liabilities and equity	$1,867,653	$1,176,915

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents related to consolidated VIE	$47
Loans held for investment related to consolidated VIE	848,224	493,783
Other assets, interest receivable related to consolidated VIE	3,438	2,552
Other assets, certificates receivable related to consolidated VIE	18,352
Other liabilities, interest payable related to consolidated VIE	$498	$384
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	28,586,915	28,506,977
Common stock, shares outstanding	28,586,915	28,506,977

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Net interest margin:
Interest income from loans held for investment									$70,495	$37,600	$9,278
Interest expense									-33,637	-14,973	-2,558
Net interest margin									36,858	22,627	6,720
Mortgage banking revenue:
Servicing fees, net									16,399	5,754
Gains from mortgage banking activities									17,492	5,019
Provision for loss sharing									1,364	-6
Change in fair value of mortgage servicing rights									-7,650	-2,697
Mortgage banking revenue									27,605	8,070
Gain on sale of loans									680	1,333
Total revenue	20,792	13,180	17,413	13,758	12,633	10,915	4,708	3,774	65,143	32,030	6,720
Expenses:
Management fees to affiliate									5,916	4,241	1,665
Professional fees									3,733	2,924	1,194
Compensation and benefits									18,649	5,456
Acquisition and investment pursuit costs									20	4,079
General and administrative expenses									9,252	3,955	1,285
General and administrative expenses reimbursed to affiliate									4,000	3,610	1,619
Total expenses									41,570	24,265	5,763
Changes in fair value of derivatives										1,739	-97
Income from operations before gain on acquisition and income taxes									23,573	9,504	860
Gain on acquisition										4,438
Income before income taxes									23,573	13,942	860
Income tax expense (benefit)									-1,043	176
Net income									24,616	13,766	860
Less loss attributable to Series A Convertible Preferred Stock:
Preferred dividends											-102
Accretion of redemption premium											-572
Net income attributable to ACRE	9,121	4,102	6,638	4,755	3,290	6,884	3,265	327	24,616	13,766	186
Net income attributable to non-controlling interests									-220
Net income attributable to common stockholders	$8,901	$4,102	$6,638	$4,755	$3,290	$6,884	$3,265	$327	$24,396	$13,766	$186
Net income per common share:
Basic earnings per common share	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.86	$0.72	$0.03
Diluted earnings per common share	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.85	$0.72	$0.03
Weighted average number of common shares outstanding:
Basic weighted average shares of common stock outstanding (in shares)									28,459,309	18,989,500	6,532,706
Diluted weighted average shares of common stock outstanding (in shares)									28,585,022	19,038,152	6,567,309

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total Stockholders' Equity	Non-controlling interests	Total
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2011		$6,600	($163)	$6,437		$6,437
Increase (Decrease) in Stockholders' Equity
Authorized increase in common stock	3	-3
Authorized increase in common stock (in shares)	330,000
Private issuance of common stock	12	23,388		23,400		23,400
Private issuance of common stock (in shares)	1,170,000
Sale of common stock	77	142,373		142,450		142,450
Sale of common stock (in shares)	7,700,000					7,700,000
Offering costs		-3,496		-3,496		-3,496
Stock-based compensation		338		338		338
Stock-based compensation (in shares)	67,162
Net income			186	186		186
Dividends declared			-3,877	-3,877		-3,877
Balance at Dec. 31, 2012	92	169,200	-3,854	165,438		165,438
Balance (in shares) at Dec. 31, 2012	9,267,162
Increase (Decrease) in Stockholders' Equity
Sale of common stock	186	250,501		250,687		250,687
Sale of common stock (in shares)	18,601,590					18,601,590
Issuance of common stock - acquisition of ACRE Capital	6	7,506		7,512		7,512
Issuance of common stock - acquisition of ACRE Capital (in shares)	588,235
Offering costs		-8,412		-8,412		-8,412
Stock-based compensation		524		524		524
Stock-based compensation (in shares)	49,990
Net income			13,766	13,766		13,766
2015 Convertible Notes		86		86		86
Dividends declared			-23,385	-23,385		-23,385
Balance at Dec. 31, 2013	284	419,405	-13,473	406,216		406,216
Balance (in shares) at Dec. 31, 2013	28,506,977					28,506,977
Increase (Decrease) in Stockholders' Equity
Sale of common stock (in shares)						0
Stock-based compensation		939		939		939
Stock-based compensation (in shares)	79,938
Net income			24,396	24,396	220	24,616
Dividends declared			-28,597	-28,597		-28,597
Contributions from non-controlling interests					77,712	77,712
Balance at Dec. 31, 2014	$284	$420,344	($17,674)	$402,954	$77,932	$480,886
Balance (in shares) at Dec. 31, 2014	28,586,915					28,586,915

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating activities:
Net income	$24,616	$13,766	$860
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of deferred financing costs	8,195	1,922	698
Change in mortgage banking activities	-7,955	-3,110
Change in fair value of mortgage servicing rights	7,650	2,697
Accretion of deferred loan origination fees and costs	-3,661	-2,366	-400
Provision for loss sharing	-1,364	6
Cash paid to settle loss sharing obligations	-2,581	-2,040
Originations of mortgage loans held for sale	-497,258	-84,150
Sale of mortgage loans held for sale to third parties	302,886	102,363
Stock-based compensation	939	524	338
Changes in fair value of derivatives		-1,739	97
Amortization of convertible notes issuance costs	941	826
Accretion of convertible notes	580	526
Gain on acquisition		-4,438
Depreciation expense	160	38
Deferred tax expense (benefit)	93	61
Changes in operating assets and liabilities:
Restricted cash	-43,811	1,648
Other assets	-10,892	-4,414	-2,508
Due to affiliate	-61	1,476	1,089
Other liabilities	-1,391	1,848	1,778
Net cash provided by (used in) operating activities	-222,914	25,444	1,952
Investing activities:
Issuance of and fundings on loans held for investment	-711,136	-675,607	-351,875
Principal repayment of loans held for investment	193,867	66,920	180
Issuance of a mortgage loan held for sale		-84,769
Proceeds from sale of a mortgage loan held for sale	80,197
Receipt of origination fees	7,082	6,058	3,540
Acquisition of ACRE Capital, net of cash acquired		-58,258
Purchases of property and equipment	-823	-41
Payments for acquisition of intangible assets	-1,008
Payments for acquisition of mortgage servicing rights	-1,259
Net cash used in investing activities	-433,080	-745,697	-348,155
Financing activities:
Proceeds from secured funding agreements	1,143,342	703,154	278,353
Repayments of secured funding agreements	-854,962	-582,991	-134,097
Secured funding costs	-10,841	-7,033	-2,323
Proceeds from issuance of debt of consolidated VIE	308,703	395,027
Repayments of debt of consolidated VIEs	-175,984
Proceeds from issuance of common stock		250,687	165,850
Payment of offering costs	-113	-8,834	-3,448
Proceeds from warehouse lines of credit	544,011	97,676
Repayments of warehouse lines of credit	-350,846	-112,148
Proceeds from convertible debt			69,000
Convertible notes issuance costs			-2,748
Dividends paid	-28,577	-18,575	-1,560
Proceeds from issuance of Series A convertible preferred stock			5,723
Redemption of Series A convertible preferred stock			-6,295
Series A preferred dividend			-102
Contributions from non-controlling interests	77,712
Net cash provided by financing activities	652,445	716,963	368,353
Change in cash and cash equivalents	-3,549	-3,290	22,150
Cash and cash equivalents, beginning of period	20,100	23,390	1,240
Cash and cash equivalents, end of period	16,551	20,100	23,390
Supplemental Information:
Interest paid during the period	23,870	11,317	1,254
Income taxes paid during the period	430
Supplemental disclosure of noncash investing and financing activities:
Dividends payable	7,147	7,127	2,316
Deferred financing and offering costs		174	244
Notes receivable related to consolidated VIEs	16,116
Issuance of common stock for acquisition of ACRE Capital		7,512
Fair value of assets acquired from ACRE Capital, net of cash acquired		112,609
Fair value of liabilities assumed from ACRE Capital		$48,401

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2014
ORGANIZATION
ORGANIZATION
	1.     ORGANIZATION
	Ares Commercial Real Estate Corporation (together with its consolidated subsidiaries, the "Company" or "ACRE") is a specialty finance company that operates both as a principal lender and a mortgage banker (with respect to loans collateralized by multifamily and senior-living properties). Through Ares Commercial Real Estate Management LLC ("ACREM" or the Company's "Manager"), a Securities and Exchange Commission ("SEC") registered investment adviser and a subsidiary of Ares Management L.P. (NYSE: ARES) ("Ares Management"), a publicly traded, leading global alternative asset manager, it has investment professionals strategically located across the United States and Europe who directly source new loan opportunities for the Company with owners, operators and sponsors of commercial real estate ("CRE") properties. The Company was formed and commenced operations in late 2011. The Company is a Maryland corporation and completed its initial public offering (the "IPO") in May 2012. The Company is externally managed by its Manager, pursuant to the terms of a management agreement (the "Management Agreement").
	In the Company's principal lending business, it is primarily focused on directly originating, managing and servicing a diversified portfolio of CRE debt-related investments for the Company's own account. The Company's target investments in its principal lending business include senior loans, bridge loans, subordinated debt, preferred equity and other CRE-related investments. These investments, which are referred to as the Company's "principal lending target investments," are generally held for investment and are secured, directly or indirectly, by office, multifamily, retail, industrial, lodging, senior-living and other commercial real estate properties, or by ownership interests therein.
	The Company is also engaged in the mortgage banking business through its wholly owned subsidiary, ACRE Capital LLC ("ACRE Capital"), which the Company believes is complementary to its principal lending business. In this business segment, the Company primarily originates, sells and services multifamily and senior-living related loans under programs offered by government and government-sponsored enterprises ("GSEs"), such as the Federal National Mortgage Association ("Fannie Mae"), the Federal Home Loan Mortgage Corporation ("Freddie Mac"), the Government National Mortgage Association ("Ginnie Mae") and the Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development (together with Ginnie Mae, "HUD"). ACRE Capital is approved as a Fannie Mae Delegated Underwriting and Servicing ("DUS") lender, a Freddie Mac Program Plus® Seller/Servicer, a Multifamily Accelerated Processing ("MAP") and Section 232 LEAN lender for HUD, and a Ginnie Mae issuer. While the Company earns little interest income from these activities as it generally only holds loans for short periods, the Company receives origination fees when it closes loans and sale premiums when it sells loans. The Company also retains the rights to service the loans, which are known as mortgage servicing rights ("MSRs") and receives fees for such servicing during the life of the loans, which generally last ten years or more.
	The Company has elected and qualified to be taxed as a real estate investment trust ("REIT") for U.S. federal income tax purposes under the Internal Revenue Code of 1986, as amended, commencing with its taxable year ended December 31, 2012. The Company generally will not be subject to U.S. federal income taxes on its REIT taxable income, determined without regard to the deduction for dividends paid and excluding net capital gains, to the extent that it annually distributes all of its REIT taxable income to stockholders and complies with various other requirements as a REIT.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES
	2.     SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with generally accepted accounting principles ("GAAP") and include the accounts of the Company, the consolidated variable interest entities ("VIEs") that the Company controls and of which the Company is the primary beneficiary, and the Company's wholly owned subsidiaries. The consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are necessary for the fair presentation of the Company's results of operations and financial condition as of and for the periods presented. All intercompany balances and transactions have been eliminated.
	Variable Interest Entities
	The Company evaluates all of its interests in VIEs for consolidation. When the Company's interests are determined to be variable interests, the Company assesses whether it is deemed to be the primary beneficiary of the VIE. The primary beneficiary of a VIE is required to consolidate the VIE. Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation ("ASC 810"), defines the primary beneficiary as the party that has both (i) the power to direct the activities of the VIE that most significantly impact its economic performance, and (ii) the obligation to absorb losses and the right to receive benefits from the VIE which could be potentially significant. The Company considers its variable interests, as well as any variable interests of its related parties in making this determination. Where both of these factors are present, the Company is deemed to be the primary beneficiary and it consolidates the VIE. Where either one of these factors is not present, the Company is not the primary beneficiary and it does not consolidate the VIE.
	To assess whether the Company has the power to direct the activities of a VIE that most significantly impact the VIE's economic performance, the Company considers all facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes first, identifying the activities that most significantly impact the VIE's economic performance; and second, identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE or have the right to unilaterally remove those decision makers are deemed to have the power to direct the activities of a VIE.
	To assess whether the Company has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the Company considers all of its economic interests, including debt and equity investments, servicing fees, and other arrangements deemed to be variable interests in the VIE. This assessment requires that the Company applies judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE's capital structure; and the reasons why the interests are held by the Company.
	For VIEs of which the Company is determined to be the primary beneficiary, all of the underlying assets, liabilities, equity, revenue and expenses of the structures are consolidated into the Company's consolidated financial statements.
	The Company performs an ongoing reassessment of: (1) whether any entities previously evaluated under the majority voting interest framework have become VIEs, based on certain events, and therefore are subject to the VIE consolidation framework, and (2) whether changes in the facts and circumstances regarding its involvement with a VIE causes the Company's consolidation conclusion regarding the VIE to change. See Note 17 included in these financial statements for further discussion of the Company's VIEs.
	Segment Reporting
	The Company has two reportable business segments: principal lending and mortgage banking. See Note 19 included in these consolidated financial statements for further discussion of the Company's reportable business segments.
	Reclassifications
	Certain prior period amounts have been reclassified to conform to the current period presentation. Accounts payable and accrued expenses have been reclassified into other liabilities in the consolidated statements of cash flows. Gains attributable to fair value of future servicing rights, change in fair value of loan commitments and change in fair value of forward sale commitments have been reclassified into change in mortgage banking activities in the consolidated statements of cash flows. Other interest expense related to the 2015 Convertible Notes (defined below) has been reclassified into interest expense, other interest expense related to the Warehouse Lines of Credit (as defined in Note 6 included in these consolidated financial statements) has been reclassified into gains from mortgage banking activities and other interest expense related to escrow accounts has been reclassified into servicing fees, net in the consolidated statements of operations. As of December 31, 2014, the Company no longer presents other interest expense in its consolidated statements of operations.
	Cash and Cash Equivalents
	Cash and cash equivalents include funds on deposit with financial institutions, including demand deposits with financial institutions. Cash and short-term investments with an original maturity of three months or less when acquired are considered cash and cash equivalents for the purpose of the consolidated balance sheets and statements of cash flows.
	Restricted Cash
	Restricted cash includes escrow deposits for taxes, insurance, leasing outlays, capital expenditures, tenant security deposits and payments required under certain loan agreements. These escrow deposits are held on behalf of the respective borrowers and are offset by escrow liabilities included in other liabilities in the consolidated balance sheets. In connection with its mortgage banking business, the Company held restricted cash, which consisted of reserves that are a requirement of the Fannie Mae DUS program and borrower deposits, which represent funds that were collected for the processing of the borrowers loan applications and loan commitments.
	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash, loans held for investment, MSRs, loans held for sale, interest receivable and derivative financial instruments. The Company places its cash and cash equivalents with financial institutions and, at times, cash held may exceed the FDIC-insured limit. The Company has exposure to credit risk on its loans held for investment and through its subsidiary ACRE Capital, the Company has exposure on credit risk on loans held for sale and the servicing portfolio whereby ACRE Capital shares in the risk of loss (see Note 7 included in these consolidated financial statements). The Company and the Company's Manager seek to manage credit risk by performing due diligence prior to origination or acquisition and through the use of non-recourse financing, when and where available and appropriate.
	Loans Held for Investment
	The Company originates CRE debt and related instruments generally to be held for investment. Loans that are held for investment are carried at cost, net of unamortized loan fees and origination costs, unless the loans are deemed impaired. Impairment occurs when it is deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan. If a loan is considered to be impaired, the Company will record an allowance to reduce the carrying value of the loan to the present value of expected future cash flows discounted at the loan's contractual effective rate.
	Each loan classified as held for investment is evaluated for impairment on a periodic basis. Loans are collateralized by real estate. The extent of any credit deterioration associated with the performance and/or value of the underlying collateral property and the financial and operating capability of the borrower could impact the expected amounts received. The Company monitors performance of its investment portfolio under the following methodology: (1) borrower review, which analyzes the borrower's ability to execute on its original business plan, reviews its financial condition, assesses pending litigation and considers its general level of responsiveness and cooperation; (2) economic review, which considers underlying collateral, (i.e. leasing performance, unit sales and cash flow of the collateral and its ability to cover debt service, as well as the residual loan balance at maturity); (3) property review, which considers current environmental risks, changes in insurance costs or coverage, current site visibility, capital expenditures and market perception; and (4) market review, which analyzes the collateral from a supply and demand perspective of similar property types, as well as from a capital markets perspective. Such impairment analyses are completed and reviewed by asset management and finance personnel who utilize various data sources, including periodic financial data such as property occupancy, tenant profile, rental rates, operating expenses, and the borrower's exit plan, among other factors.
	In addition, the Company evaluates the entire portfolio to determine whether the portfolio has any impairment that requires a valuation allowance on the remainder of the loan portfolio. As of December 31, 2014, 2013 and 2012, with respect to the Company's loans held for investment, no impairment charges have been recognized.
	Preferred equity investments, which are subordinate to any loans but senior to common equity, are accounted for as loans held for investment and are carried at cost, net of unamortized loan fees and origination costs, unless the loans are deemed impaired, and are included within loans held for investment in the Company's consolidated balance sheets. The Company accretes or amortizes any discounts or premiums over the life of the related loan receivable utilizing the effective interest method.
	Loans Held for Sale
	Through its subsidiaries, including ACRE Capital, ACRC Lender W TRS LLC ("ACRC W TRS") and ACRC Lender U TRS LLC ("ACRC U TRS"), the Company originates mortgage loans held for sale, which are recorded at fair value and accounted for under FASB ASC Topic 860, Transfers and Servicing. The holding period for loans originated by ACRE Capital is approximately 30 days. The carrying value of the mortgage loans sold is reduced by the value allocated to the associated retained MSRs based on relative fair value at the time of the sale. Gains or losses on sales of mortgage loans are recognized based on the difference between the selling price and the adjusted value of the related mortgage loans sold.
	Although the Company generally holds its target investments as long-term investments within its principal lending business, the Company may occasionally classify some of its investments as held for sale. Investments held for sale will be carried at fair value within loans held for sale, at fair value in the Company's consolidated balance sheets, with changes in fair value recorded through earnings. The fees received are deferred and recognized as part of the gain or loss on sale. As of December 31, 2014, the Company did not have any loans held for sale in its principal lending business. As of December 31, 2013, the Company had one loan held for sale in its principal lending business of $84.8 million, net of deferred fees, included in the $89.2 million of loans held for sale in the consolidated balance sheets.
	Mortgage Servicing Rights
	When a mortgage loan is sold, ACRE Capital retains the right to service the loan and recognizes the MSR at fair value. The initial fair value represents expected net cash flows from servicing, as well as interest earnings on escrows and interim cash balances, borrower prepayment penalties, delinquency rates, late charges along with ancillary fees that are discounted at a rate that reflects the credit and liquidity risk of the MSR over the estimated life of the underlying loan. After initial recognition, changes in the MSR fair value are included within change in fair value of mortgage servicing rights in the Company's consolidated statements of operations for the period in which the change occurs.
	Intangible Assets
	Intangible assets consist of ACRE Capital's licenses permitting it to participate in programs offered by Fannie Mae, Freddie Mac and HUD (including Ginnie Mae). These licenses are intangible assets with indefinite lives. The Company evaluates identified intangibles for impairment annually or if other events or circumstances indicate that the carrying value may be impaired.
	Debt Issuance Costs
	Debt issuance costs under the Company's indebtedness are capitalized and amortized over the terms of the respective debt instrument. Debt issuance costs related to debt securitizations are capitalized and amortized over the term of the underlying loans using the effective interest method. When an underlying loan is prepaid in a debt securitization, the related unamortized debt issuance costs are charged to expense based on a pro-rata share of the debt issuance costs being allocated to the specific loans that were prepaid. Amortization of debt issuance costs is included within interest expense in the Company's consolidated statements of operations while the unamortized balance is included within other assets in the Company's consolidated balance sheets.
	Derivative Financial Instruments
	The Company does not hold or issue derivative instruments for trading purposes. The Company recognizes derivatives on its consolidated balance sheets, measures them at their estimated fair value and recognizes changes in their estimated fair value in the Company's consolidated statements of operations for the period in which the change occurs.
	Through its subsidiary, ACRE Capital, the Company enters into loan commitments with borrowers on loan originations whereby the interest rate on the prospective loan is determined prior to funding. In general, ACRE Capital simultaneously enters into forward sale commitments with investors in order to hedge interest rate exposure on loan commitments. The forward sale commitment with the investor locks in an interest rate and price for the sale of the loan. The terms of the loan commitment with the borrower and the forward sale commitment with the investor are matched with the objective of hedging interest rate risk. Loan commitments and forward sale commitments are considered undesignated derivative instruments. Accordingly, such commitments, along with any related fees received from potential borrowers, are recorded at fair value, with changes in fair value recorded in earnings.
	On December 19, 2012, the Company issued unsecured 7.00% Convertible Senior Notes that mature in 2015 (the "2015 Convertible Notes"). The conversion features of the 2015 Convertible Notes were deemed to be an embedded derivative under FASB ASC Topic 815, Derivatives and Hedging ("ASC 815"). In accordance with ASC 815, the Company was required to bifurcate the embedded derivative related to the conversion features of the 2015 Convertible Notes. Prior to June 26, 2013, the Company recognized the embedded derivative as a liability on its balance sheet, measured at its estimated fair value and recognized changes in its estimated fair value within changes in fair value of derivatives in the Company's consolidated statements of operations for the period in which the change occurs. See Note 9 included in these consolidated financial statements for information on the derivative liability reclassification.
	Fair Value Measurements
	GAAP establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The financial instruments recorded at fair value on a recurring basis in the Company's consolidated financial statements are derivative financial instruments, MSRs and loans held for sale. The Company has not elected the fair value option for certain other financial instruments, including loans held for investment, secured funding agreements and other debt instruments. Such financial instruments are carried at cost. Fair value is separately disclosed (see Note 14 included in these consolidated financial statements).
	Allowance for Loss Sharing
	When a loan is sold under the Fannie Mae DUS program, ACRE Capital undertakes an obligation to partially guarantee the performance of the loan. The date ACRE Capital commits to make a loan to a borrower, a liability for the fair value of the obligation undertaken in issuing the guaranty is recognized. Subsequent to the initial commitment date, the Company monitors the performance of each loan for events or circumstances which may signal a liability to be recognized if there is a probable and estimable loss. The initial fair value of the guarantee is estimated by examining historical loss share experienced in the ACRE Capital Fannie Mae DUS portfolio since inception. The initial fair value of the guarantee is included within the provision for loss sharing in the Company's consolidated statements of operations. These historical loss shares serve as a basis to derive a loss share rate which is then applied to the current ACRE Capital DUS portfolio (net of specifically identified impaired loans that are subject to a separate loss share reserve analysis).
	Servicing Fee Payable
	ACRE Capital provides additional payments to certain personnel by providing them with a percentage of the servicing fee revenue that is earned by ACRE Capital, which is initially recorded as a liability when ACRE Capital commits to make a loan to a borrower. The initial fair value of the liability represents the expected net cash payments over the life of the related mortgage loan that are discounted at a rate that reflects the credit and liquidity risk of the related MSR. ACRE Capital incurs an expense over the life of each loan as long as the related loan is performing. If a particular loan is not performing, the recipient will not receive the additional compensation on that loan, and if a loss sharing event is triggered, the recipient will not receive a portion of the additional compensation on other loans. The servicing fee payable is included within other liabilities in the consolidated balance sheets. The initial fair value of the related expense is included within gains from mortgage banking activities and the changes in the fair value of the servicing fee payable over the life of the related mortgage loan is included within servicing fee revenue on a net basis in the consolidated statements of operations in the period in which the change occurs.
	Revenue Recognition
	Interest income from loans held for investment is accrued based on the outstanding principal amount and the contractual terms of each loan. For loans held for investment, origination fees, contractual exit fees and direct loan origination costs are also recognized in interest income from loans held for investment over the initial loan term as a yield adjustment using the effective interest method.
	A reconciliation of the Company's interest income from loans held for investment, excluding non-controlling interests, to the Company's interest income from loans held for investment as included within its consolidated statements of operations is as follows:
	$ in thousands	For the year ended
		December 31, 2014
	Interest income from loans held for investment	$	70,495
	Interest income from non-controlling interest investment held by third parties		(307	)
	Interest income from loans held for investment, excluding non-controlling interests	$	70,188
	Servicing fees are earned for servicing mortgage loans, including all activities related to servicing the loans, and are recognized as services are provided over the life of the related mortgage loan. Also included in servicing fees are the net fees earned on borrower prepayment penalties and interest earned on borrowers' escrow payments and interim cash balances, along with other ancillary fees and reduced by write-offs of MSRs for loans that are prepaid, changes in the fair value of the servicing fee payable and interest expense related to escrow accounts.
	Gains from mortgage banking activities includes the initial fair value of MSRs, loan origination fees, gain on the sale of loans originated, interest income and fees earned on loans held for sale, changes to the fair value of derivative financial instruments attributable to the loan commitments and forward sale commitments and reduced by the expense related to the initial fair value of the servicing fee payable and the interest expense related to the Warehouse Lines of Credit (as defined in Note 6 included in these consolidated financial statements). The initial fair value of MSRs, loan origination fees, gain on the sale of loans originated, certain direct loan origination costs for loans held for sale and the expenses related to the initial fair value of the servicing fee payable are recognized when ACRE Capital commits to make a loan to a borrower. When the Company settles a sale agreement and transfers the mortgage loan to the buyer, the Company recognizes a MSR asset equal to the present value of the expected net cash flows associated with the servicing of loans sold.
	Net Interest Margin and Interest Expense
	Net interest margin within the consolidated statements of operations is a measure that is specific to the Company's principal lending business and serves to measure the performance of the principal lending segment's loans held for investment as compared to its use of debt leverage. The Company includes interest income from its loans held for investment and interest expense related to its secured funding agreements, securitizations debt and the 2015 Convertible Notes in net interest margin. As of December 31, 2014, 2013 and 2012, interest expense is comprised of the following:
		As of December 31,
		2014			2013		2012
	Secured funding agreements and securitizations debt	$	27,299		$	8,774	$	2,342
	Convertible notes		6,338			6,199		216
	Interest expense	$	33,637		$	14,973	$	2,558
	Stock-Based Compensation
	The Company recognizes the cost of stock-based compensation, which is included within compensation and benefits for ACRE Capital and general and administrative expenses for ACRE in the consolidated statements of operations. The fair value of the time vested restricted stock or restricted stock units granted is recorded to expense on a straight-line basis over the vesting period for the award, with an offsetting increase in stockholders' equity. For grants to directors, officers and employees, the fair value is determined based upon the market price of the stock on the grant date.
	Certain ACRE Capital employees were granted restricted stock that vest in proportion to various financial performance targets being met over a specified period of time. The fair value of the performance based restricted stock granted is recorded to expense on an accelerated basis, using the accelerated attribution method, over the performance period for the award, with an offsetting increase in stockholders' equity. For performance based measures, compensation expense, net of estimated forfeitures, is recorded based on the Company's estimate of the probable achievement of such measures.
Underwriting Commissions and Offering Costs
Underwriting commissions and offering costs incurred in connection with common stock offerings are reflected as a reduction of additional paid-in capital. Costs incurred that are not directly associated with the completion of a common stock offering are expensed when incurred. Underwriting commissions that are the responsibility of and paid by a related party, such as the Company's Manager, are reflected as a contribution of additional paid-in capital from a sponsor in the consolidated financial statements.
Income Taxes
The Company has elected and qualified for taxation as a REIT commencing with its taxable year ended December 31, 2012. As a result of the Company's REIT qualification and its distribution policy, the Company does not generally pay U.S. federal corporate level income taxes. Many of the REIT requirements, however, are highly technical and complex. To continue to qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% of the Company's REIT taxable income to the Company's stockholders. If the Company fails to continue to qualify as a REIT in any taxable year and does not qualify for certain statutory relief provisions, the Company will be subject to U.S. federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) beginning with the year in which it fails to qualify and may be precluded from being able to elect to be treated as a REIT for the Company's four subsequent taxable years. Even though the Company currently qualifies for taxation as a REIT, the Company may be subject to certain U.S. federal, state, local and foreign taxes on the Company's income and property and to U.S. federal income and excise taxes on the Company's undistributed REIT taxable income.
In connection with the acquisition of ACRE Capital, the Company created a wholly owned subsidiary, ACRE Capital Holdings LLC ("TRS Holdings"), to hold the common units of ACRE Capital. The Company formed a wholly owned subsidiary in December 2013, ACRC W TRS and in March 2014, ACRC U TRS in order to issue and hold certain loans intended for sale. The Company currently owns 100% of the equity of TRS Holdings, ACRC U TRS and ACRC W TRS. Entity classification elections to be taxed as a corporation and taxable REIT subsidiary ("TRS") elections were made with respect to TRS Holdings, ACRC W TRS and ACRC U TRS. A TRS is an entity taxed as a corporation other than a REIT in which a REIT directly or indirectly holds equity, and that has made a joint election with such REIT to be treated as a TRS. Other than some activities relating to lodging and health care facilities, a TRS generally may engage in any business, including investing in assets and engaging in activities that could not be held or conducted directly by the Company without jeopardizing its qualification as a REIT. A TRS is subject to applicable U.S. federal, state, local and foreign income tax on its taxable income. In addition, as a REIT, the Company also may be subject to a 100% excise tax on certain transactions between it and its TRS that are not conducted on an arm's-length basis.
For financial reporting purposes, a provision for current and deferred taxes has been established for the portion of the Company's GAAP consolidated earnings recognized by TRS Holdings, ACRC U TRS and ACRC W TRS.
FASB ASC Topic 740, Income Taxes ("ASC 740"), prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. As of December 31, 2014 and 2013, based on the Company's evaluation, there is no reserve for any uncertain income tax positions. TRS Holdings, ACRC U TRS and ACRC W TRS recognize interest and penalties, if any, related to unrecognized tax benefits within income tax expense in the consolidated statements of operations. Accrued interest and penalties, if any, are included within other liabilities in the consolidated balance sheets.
Comprehensive Income
For the years ended December 31, 2014, 2013 and 2012, comprehensive income equaled net income; therefore, a separate consolidated statement of comprehensive income is not included in the accompanying consolidated financial statements.
Earnings per Share
The Company calculates basic earnings (loss) per share by dividing net income (loss) allocable to common stockholders for the period by the weighted-average shares of common stock outstanding for that period after consideration of the earnings (loss) allocated to the Company's restricted stock, which are participating securities as defined in GAAP. Diluted earnings (loss) per share takes into effect any dilutive instruments, such as restricted stock and convertible debt, except when doing so would be anti-dilutive. With respect to the 2015 Convertible Notes, the Company has the ability and intention to settle the principal in cash and to settle any amount above par in shares of the Company's common stock if the conversion options were exercised. As such, the Company is applying the treasury stock method when determining the dilutive impact on earnings per share.
Use of Estimates in the Preparation of Financial Statements
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates.
Business Combinations
The Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. The Company recognizes identifiable assets acquired and liabilities (both specific and contingent) assumed at their fair values at the acquisition date. Furthermore, acquisition-related costs, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the acquired assets. The excess of the assets acquired and liabilities assumed over the purchase price is recognized as a gain on acquisition. During the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with corresponding adjustments to the gain on acquisition. After the measurement period, which could be up to one year after the transaction date, subsequent adjustments are recorded through earnings.
Asset Acquisitions
The Company accounts for acquired assets and assumed liabilities that do not meet the definition of a business as an asset acquisition, under which the cost of the acquisition is allocated to the assets acquired and liabilities assumed on a relative fair value basis. Acquisition-related costs, such as due diligence, legal and accounting fees, are capitalized as a component of the cost of the assets acquired.
Costs Associated with Restructuring Activities
The Company began restructuring and relocating certain ACRE Capital support services during the three months ended March 31, 2014. The Company incurred costs related to these restructuring activities, including employee termination costs and office relocation costs. The employee termination costs are associated with the severance of certain employees, retention bonuses and guaranteed bonuses to certain key employees, insurance and outplacement, which will be accounted for on a straight-line basis over the period from notification through each employee's termination date. If employees are required to render service (beyond a minimum retention period) in order to receive the termination benefits, a liability for employee termination costs is measured initially at the communication date based on its fair value, as of the termination date, and recognized ratably over the future service period. Office relocation costs include costs that will be incurred in the physical move of offices and incremental rent costs, which will be expensed when space is vacated. The costs incurred to date are included within general and administrative expenses in the Company's consolidated statements of operations.
Recent Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance in this ASU supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition." Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in ASU No. 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements.
In November 2014, the FASB issued ASU No. 2014-16, "Derivatives and Hedging (Topic 815)." The objective of this ASU is to eliminate the use of different methods in practice and thereby reduce existing diversity under GAAP in the accounting for hybrid financial instruments issued in the form of a share. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. In addition, the amendments in this ASU clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. The amendments in ASU No. 2014-16 are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted; however, the Company does not plan to early adopt this ASU. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

LOANS_HELD_FOR_INVESTMENT

LOANS HELD FOR INVESTMENT	12 Months Ended
	Dec. 31, 2014
LOANS HELD FOR INVESTMENT.
LOANS HELD FOR INVESTMENT
	3.     LOANS HELD FOR INVESTMENT
	As of December 31, 2014, the Company had originated or co-originated 46 CRE middle market loans, excluding 11 loans that were repaid since inception. The aggregate originated commitment under these loans at closing was approximately $1.6 billion and outstanding principal was $1.5 billion as of December 31, 2014. During the year ended December 31, 2014, the Company funded approximately $717.4 million of outstanding principal and received repayments of $210.0 million of outstanding principal as described in more detail in the tables below. Such investments are referred to herein as the Company's investment portfolio. As of December 31, 2014, 68.7% of the Company's loans have LIBOR floors, with a weighted average floor of 0.29%, calculated based on loans with LIBOR floors. References to LIBOR or "L" are to 30-day LIBOR (unless otherwise specifically stated).
	The Company's investments in mortgages and loans held for investment are accounted for at amortized cost. The following tables summarize the Company's loans held for investment as of December 31, 2014 and 2013:
			December 31, 2014
	$ in thousands		Carrying			Outstanding			Weighted			Weighted			Weighted
			Amount(1)			Principal(1)			Average			Average			Average
									Interest Rate			Unleveraged			Remaining
												Effective Yield(2)			Life (Years)
	Senior mortgage loans		$	1,156,476		$	1,164,055			4.5	%		5.0	%		2.1
	Subordinated debt and preferred equity investments			228,499			231,226			10.3	%		10.7	%		6.1
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	1,384,975		$	1,395,281			5.5	%		6.0	%		2.8
			December 31, 2013
	$ in thousands		Carrying			Outstanding			Weighted			Weighted			Weighted
			Amount(1)			Principal(1)			Average			Average			Average
									Interest Rate			Unleveraged			Remaining
												Effective Yield(2)			Life (Years)
	Senior mortgage loans		$	867,578		$	873,781			5.1	%		5.6	%		2.4
	Subordinated debt and preferred equity investments			90,917			91,655			9.8	%		10.2	%		3.6
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	958,495		$	965,436			5.5	%		6.0	%		2.5
	-1	The difference between the Carrying Amount and the Outstanding Principal face amount of the loans held for investment consists of unamortized purchase discount, deferred loan fees and loan origination costs.
	-2	Unleveraged Effective Yield is the compounded effective rate of return that would be earned over the life of the investment based on the contractual interest rate (adjusted for any deferred loan fees, costs, premium or discount) and assumes no dispositions, early prepayments or defaults. The Total Weighted Average Unleveraged Effective Yield is calculated based on the average of Unleveraged Effective Yield of all loans held by the Company as of December 31, 2014 and 2013 as weighted by the Outstanding Principal balance of each loan.
	A reconciliation of the Company's investment portfolio excluding non-controlling interests compared to the Company's loans held for investment as included within its consolidated balance sheets is as follows:
			As of December 31, 2014
	$ in thousands		Carrying
			Amount
	Loans held for investment		$	1,462,584
	Non-controlling interest investment held by third parties			(77,609	)
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	1,384,975
	A more detailed listing of the Company's investment portfolio, based on information available as of December 31, 2014 is as follows:
	(amounts in millions, except percentages)
	Loan Type		Location		Outstanding			Carrying			Interest Rate			Unleveraged			Maturity		Payment
					Principal(1)			Amount(1)						Effective			Date(3)		Terms(4)
														Yield(2)
	Transitional Senior Mortgage Loans:
	Office		CA		$	75.0		$	74.5			L+3.75%			4.2	%		Aug-17		I/O
	Retail		IL			70.0			69.5			L+4.25%			4.9	%		Aug-17		I/O
	Office		TX			61.7			60.9			L+5.00%			6.1	%		Jan-17		I/O
	Multifamily		GA			45.8			45.8			L+4.95%	-5		5.7	%		Apr-16		I/O
	Mixed-use		IL			45.1			44.4			L+3.60%			4.2	%		Oct-18		I/O
	Multifamily		TX			44.7			44.6			L+3.75%			4.5	%		Jul-16		I/O
	Multifamily		GA			38.4			38.4			L+4.95%	-5		5.7	%		Apr-16		I/O
	Industrial		MO/KS			38.0			37.7			L+4.30%			5.1	%		Jan-17		I/O
	Multifamily		NY			37.8			37.5			L+5.00%			6.1	%		Oct-17		I/O
	Multifamily		TX			35.4			35.3			L+4.70%			5.6	%		Apr-16		I/O
	Multifamily		FL			35.2			35.0			L+3.75%			4.7	%		Mar-17		I/O
	Multifamily		TX			34.9			34.8			L+3.75%			4.5	%		Jul-16		I/O
	Office		FL			32.8			32.6			L+3.65%			4.0	%		Oct-17		I/O
	Office		OH			30.0			29.9			L+5.35%-			6.0	%		Nov-15		I/O
												L+5.00%	-6
	Retail		IL			29.0			28.7			L+3.25%			3.9	%		Sep-18		I/O
	Office		CA			27.7			27.5			L+4.50%			5.2	%		Apr-17		I/O
	Office		OR			27.4			27.1			L+3.75%			4.4	%		Oct-18		I/O
	Multifamily		NY			27.0			26.7			L+3.75%			4.4	%		Oct-17		I/O
	Multifamily		TX			27.2			27.1			L+3.65%			4.4	%		Jan-17		I/O
	Office		KS			25.5			25.4			L+5.00%			5.8	%		Mar-16		I/O
	Mixed-use		NY			26.0			25.9			L+4.25%			4.8	%		Aug-17		I/O
	Multifamily		TX			24.9			24.7			L+3.65%			4.4	%		Jan-17		I/O
	Multifamily		GA			23.5			23.5			L+4.95%	-5		5.7	%		Apr-16		I/O
	Multifamily		AZ			21.8			21.8			L+4.25%			5.9	%		Sep-15		I/O
	Multifamily		GA			21.6			21.4			L+3.85%			4.8	%		May-17		I/O
	Industrial		CA			19.9			19.7			L+5.25%			6.1	%		May-17		I/O
	Industrial		VA			19.0			18.9			L+5.25%			6.4	%		Dec-15		I/O
	Office		CO			16.8			16.6			L+3.95%			4.6	%		Dec-17		I/O
Office		CA			15.6			15.5			L+3.75%			4.5	%		Jul-16		I/O
Office		CA			14.8			14.7			L+4.50%			5.3	%		Jul-16		I/O
Multifamily		NC			14.9			14.8			L+4.00%			4.8	%		Apr-17		I/O
Multifamily		NY			13.7			13.6			L+3.85%			4.4	%		Nov-17		I/O
Multifamily		FL			13.7			13.6			L+3.80%			4.6	%		Feb-17		I/O
Mixed-use		NY			12.6			12.4			L+3.95%			4.7	%		Sep-17		I/O
Multifamily		FL			11.2			11.1			L+3.75%			4.6	%		Apr-17		I/O
Multifamily		FL			10.9			10.8			L+3.80%			4.6	%		Feb-17		I/O
Stretch Senior Mortgage Loans:
Office		FL			47.3			47.3			L+5.25%	-7		5.4	%		Apr-16		I/O
Industrial		OH			32.7			32.4			L+4.20%			4.7	%		May-18		I/O
Office		CA			14.5			14.4			L+4.75%			5.7	%		Feb-16		I/O
Subordinated Debt and Preferred Equity Investments:
Office		IL			37.0			36.8			8.75%			9.1	%		Aug-16		I/O
Multifamily		NY			33.3			33.1			L+8.07%	-8		8.5	%		Jan-19		I/O
Multifamily		GA and FL			34.8			34.2			L+11.85%	-9		12.3	%		Jun-21		I/O
Office		GA			14.3			14.3			9.5%	-10		9.5	%		Aug-17		I/O
Mixed-use		NY			14.6			14.5			11.50%	-11		11.9	%		Nov-16		I/O
Multifamily		TX			4.9			4.8			L+11.00%	-12		11.6	%		Oct-16		I/O
Various		Diversified(13)			92.4			90.8			10.95%			11.4	%		Dec-24		I/O
Total/Average				$	1,395.3		$	1,385.0						6.0	%
-1	The difference between the Carrying Amount and the Outstanding Principal amount of the loans held for investment consists of unamortized purchase discount, deferred loan fees and loan origination costs.
-2	Unleveraged Effective Yield is the compounded effective rate of return that would be earned over the life of the investment based on the contractual interest rate (adjusted for any deferred loan fees, costs, premium or discount) and assumes no dispositions, early prepayments or defaults. Unleveraged Effective Yield for each loan is calculated based on LIBOR as of December 31, 2014 or the LIBOR floor, as applicable. The Weighted Average Unleveraged Effective Yield is calculated based on the average of Unleveraged Effective Yield of all loans held by the Company as of December 31, 2014 as weighted by the Outstanding Principal balance of each loan.
-3	Certain loans are subject to contractual extension options that vary between one and two 12-month extensions and may be subject to performance based or other conditions as stipulated in the loan agreement. Actual maturities may differ from contractual maturities stated herein as certain borrowers may have the right to prepay with or without paying a prepayment penalty. The Company may also extend contractual maturities in connection with loan modifications.
-4	I/O =nterest only. Amortization begins on the transitional senior Missouri/Kansas loan with an outstanding principal of $38.0 million in January 2015 and on the transitional senior New York loan with an outstanding principal of $37.8 million in October 2016, respectively, as of December 31, 2014. Amortization begins on the stretch senior Ohio loan with an outstanding principal as of December 31, 2014 of $32.7 million in May 2017. The remainder of the loans in the Company's principal lending portfolio are non-amortizing through their primary terms.
-5	These loans were originally structured as an A/B note in a cross collateralized loan pool with the Company holding the B-note. In connection with the commercial mortgage-backed securities ("CMBS") financing on November 19, 2013, the Company purchased the A-note and modified and split the combined loan into individual senior whole loans.
-6	The initial interest rate for this loan of L+5.35% steps down based on performance hurdles to L+5.00%.
-7	In March 2014, the Company entered into a loan modification that extended the loan for a term of two years and lowered the interest rate to L+5.25%.
-8	In March 2014, the $85.2 million (outstanding principal) senior loan held for sale by the Company was restructured whereby the principal balance was reduced from $85.2 million to $80.4 million and total commitment was decreased from $93.8 million to $88.4 million. The senior loan was subsequently sold to third party purchasers. The transaction qualified for sale accounting under FASB ASC Topic 860, Transfers and Servicing. The origination and exit fees associated with the senior loan were not restructured and the Company retained the right to a portion of the origination and the exit fees. Upon the sale of the senior loan, the Company recorded a $680 thousand (net of expenses) gain on sale of loans in its consolidated statements of operations. The $28.4 million (outstanding principal) mezzanine loan retained by the Company was also restructured whereby the principal balance was increased from $28.4 million to $33.3 million and total commitment was increased from $31.3 million to $36.6 million. In connection with the restructuring of the mezzanine loan, the interest rate decreased from L+9.90% with a LIBOR floor of 0.17% to L+7.46% with a LIBOR floor of 0.17%. The principal balance, interest rate and unleveraged effective yield of the mezzanine loan may change further based on certain asset-level performance hurdles being met. Due to asset-level performance hurdles being met, the interest rate for this loan increased to L+8.07% on December 22, 2014.
-9	The preferred return is L+11.85% with 2.00% as payment-in-kind ("PIK"), to the extent cash flow is not available. There is no capped dollar amount on accrued PIK.
-10	The interest rate for this loan decreased to 9.50% on December 15, 2014.
-11	The interest rate is 11.50% with a 9.00% current pay and up to a capped dollar amount as PIK based on the borrower's election.
-12	The preferred return is L+11.00% with an L+ 9.00% current pay and up to a capped dollar amount as PIK.
-13	The preferred equity investment is in an entity whose assets are comprised of multifamily, student housing, medical office and self-storage properties.
For the years ended December 31, 2014 and 2013, the activity in the Company's loan portfolio was as follows ($ in thousands):
Balance at December 31, 2012		$	353,500
Initial funding			640,384
Receipt of origination fee, net of costs			(6,058	)
Additional funding			35,223
Amortizing payments			(150	)
Loan payoffs			(66,770	)
Origination fee accretion			2,366
Balance at December 31, 2013		$	958,495
Initial funding			637,222
Receipt of origination fee, net of costs			(7,026	)
Additional funding			80,215
Loan payoffs			(209,983	)
Origination fee accretion			3,661
Balance at December 31, 2014		$	1,462,584
No impairment charges have been recognized during the years ended December 31, 2014, 2013 and 2012.

MORTGAGE_SERVICING_RIGHTS

MORTGAGE SERVICING RIGHTS	12 Months Ended
	Dec. 31, 2014
MORTGAGE SERVICING RIGHTS
MORTGAGE SERVICING RIGHTS
	4.     MORTGAGE SERVICING RIGHTS
	MSRs represent servicing rights retained by ACRE Capital for loans it originates and sells. The servicing fees are collected from the monthly payments made by the borrowers. ACRE Capital generally receives other remuneration including rights to various loan fees such as late charges, collateral re-conveyance charges, loan prepayment penalties, and other ancillary fees. In addition, ACRE Capital is also generally entitled to retain the interest earned on funds held pending remittance related to its collection of loan principal and escrow balances. As of December 31, 2014 and 2013, the carrying value of MSRs was approximately $58.9 million and $59.6 million, respectively. As of December 31, 2014 and 2013, ACRE Capital had a servicing portfolio consisting of 976 and 1,000 loans, respectively, with an unpaid principal balance of $4.1 billion and $3.7 billion, respectively.
	Activity related to MSRs for the years ended December 31, 2014 and 2013 was as follows ($ in thousands):
	MSRs acquired in the ACRE Capital acquisition (See Note 18)	$	61,236
	Additions, following sale of loan		2,385
	Changes in fair value		(2,697	)
	Prepayments and write-offs		(1,284	)
	Balance at December 31, 2013	$	59,640
	MSRs acquired in asset acquisition (See Note 18)		1,259
	Additions, following sale of loan		7,853
	Changes in fair value		(7,650	)
	Prepayments and write-offs		(2,213	)
	Balance at December 31, 2014	$	58,889
	As discussed in Note 2 included in these consolidated financial statements, the Company determines the fair values of the MSRs based on discounted cash flow models that calculate the present value of estimated future net servicing income. The fair values of ACRE Capital's MSRs are subject to changes in discount rates. For example, a 100 basis point increase or decrease in the weighted average discount rate would decrease or increase, respectively, the fair value of ACRE Capital's MSRs outstanding as of December 31, 2014 and 2013 by approximately $1.8 million.

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2014
INTANGIBLE ASSETS
INTANGIBLE ASSETS
	5.     INTANGIBLE ASSETS
	As of December 31, 2014 and 2013, the carrying values of the Company's intangible assets, as described in Note 2, were $6.0 million and $5.0 million, respectively, which are included within other assets in the Company's consolidated balance sheets. On August 5, 2014, ACRE Capital was approved and granted a license by Freddie Mac as a Program Plus® Seller/Servicer for multifamily loans under which ACRE Capital is authorized to sell and service Freddie Mac loans secured by multifamily properties located in New York and Princeton, New Jersey. ACRE Capital can also sell and service Freddie Mac loans secured by multifamily properties located outside of its approved geographic area if it obtains a waiver from Freddie Mac. As a Program Plus® Seller/Servicer, ACRE Capital is approved to originate and sell to Freddie Mac multifamily loans that satisfy Freddie Mac's underwriting and other eligibility requirements. Under the program, ACRE Capital submits its completed loan underwriting package to Freddie Mac and obtains Freddie Mac's commitment to purchase the loan at a specified price after closing. Ultimately, Freddie Mac performs its own underwriting of loans that ACRE Capital sells to it. Freddie Mac may choose to hold, sell, or later securitize such loans. ACRE Capital does not have any material risk-sharing arrangements on loans it sells to Freddie Mac under Program Plus®.
	As of December 31, 2014, the carrying value of the Company's intangible assets of $6.0 million includes the Freddie Mac Program Plus® Seller/Servicer license with a carrying value of $1.0 million. The identified intangible assets have indefinite lives and are not subject to amortization. The Company performs an annual assessment of impairment of its intangible assets in the fourth quarter of each year or whenever events or circumstances make it more likely than not that impairment may have occurred. For the years ended December 31, 2014 and 2013, no impairment charges have been recognized.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2014
DEBT
DEBT
	6.     DEBT
	Financing Facilities
	The Company borrows funds under the ASAP Line of Credit and the BAML Line of Credit (the "Warehouse Lines of Credit"), and the Wells Fargo Facility, the Citibank Facilities, the Capital One Facility, the CNB Facilities, the MetLife Facility and the UBS Facilities (individually defined below and collectively, the "Secured Funding Agreements"). The Company refers to the Warehouse Lines of Credit and the Secured Funding Agreements as the "Financing Facilities"). As of December 31, 2014 and 2013, the outstanding balances and total commitments under the Financing Facilities consisted of the following:
			As of December 31,
			2014					2013
	$ in thousands		Outstanding		Total			Outstanding		Total
			Balance		Commitment			Balance		Commitment
	Wells Fargo Facility		$	120,766	$	225,000		$	166,934	$	225,000
	December 2011 Citibank Facility			—		—			97,485		125,000
	December 2014 Citibank Facility			93,432		250,000			—		—
	Capital One Facility			—		100,000			—		100,000
	March 2014 CNB Facility			42,000		50,000			—		—
	July 2014 CNB Facility			75,000		75,000			—		—
	MetLife Facility			144,673		180,000			—		—
	April 2014 UBS Facility			19,685		140,000			—		—
	December 2014 UBS Facility			57,243		57,243			—		—
	ASAP Line of Credit			58,469		80,000	-1		—		105,000
	BAML Line of Credit			134,696		180,000	-2		—		80,000
	Total		$	745,964	$	1,337,243		$	264,419	$	635,000
	-1	The commitment amount is subject to change at any time at Fannie Mae's discretion.
	-2	The BAML Line of Credit's commitment size increased to $180.0 million for the period November 25, 2014 through January 26, 2015.
	Some of the Company's Financing Facilities are collateralized by i) assignments of specific loans or a pool of loans held for investment or loans held for sale owned by us, ii) interests in the subordinated portion of our securitized debt, or iii) interests in wholly owned entity subsidiaries that hold our loans held for investment. The Financing Facilities (excluding the Warehouse Lines of Credit) are guaranteed by the Company. Generally, the Company partially offsets interest rate risk by matching the interest index of loans held for investment with the Financing Facilities used to fund them.
	Wells Fargo Facility
	The Company is party to a master repurchase funding facility arranged by Wells Fargo Bank, National Association (as amended and restated, the "Wells Fargo Facility"), which allows the Company to borrow up to $225.0 million. In December 2014, the Company amended and restated the Wells Fargo Facility to, among other things, extend the maturity date from December 14, 2014 to December 14, 2015 and waive the non-utilization fee from December 14, 2014 through April 14, 2015. Provided that certain conditions are met and applicable extension fees are paid, the maturity date is subject to two 12-month extension options. Under the Wells Fargo Facility, we are permitted to sell, and later repurchase, certain qualifying senior commercial mortgage loans, A-Notes, pari passu participations in commercial mortgage loans and mezzanine loans under certain circumstances, subject to available collateral. Advances under the Wells Fargo Facility accrue interest at a per annum rate equal to the sum of (i) 30 day LIBOR plus (ii) a pricing margin range of 2.00%-2.50%. Subject to the waiver set forth above, the Company incurs a non-utilization fee of 25 basis points on the daily available balance of the Wells Fargo Facility to the extent less than 75% of the Wells Fargo Facility is utilized. For the years ended December 31, 2014 and 2013, the Company incurred a non-utilization fee of $213 thousand and $218 thousand, respectively. As of December 31, 2014 and 2013, the outstanding balance on the Wells Fargo Facility was $120.8 million and $166.9 million, respectively.
	The Wells Fargo Facility contains various affirmative and negative covenants applicable to the Company and certain of the Company's subsidiaries, including the following: (a) limitations on the incurrence of additional indebtedness or liens, (b) limitations on how borrowed funds may be used, (c) limitations on certain distributions and dividend payments in excess of the minimum amount necessary to continue to qualify as a REIT and avoid the payment of income and excise taxes, (d) maintenance of adequate capital, (e) limitations on change of control, (f) maintaining a ratio of total debt to tangible net worth of not more than 4.00 to 1.00, (g) maintaining a ratio of recourse debt to tangible net worth of not more than 3.00 to 1.00, (h) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period to be at least 1.25 to 1.00, (i) maintaining a tangible net worth of at least the sum of (1) approximately $135.5 million, plus (2) 80% of the net proceeds raised in all future equity issuances by the Company and (j) if certain specific debt yield, loan to value or other credit based tests are not met with respect to assets on the Wells Fargo Facility, the Company may be required to repay certain amounts under the Wells Fargo Facility. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the Wells Fargo Facility.
	Citibank Facilities
	December 2011 Citibank Facility
	The Company was party to a secured revolving funding facility with Citibank, N.A. (as amended, the "December 2011 Citibank Facility"), which allowed the Company to borrow up to $250.0 million. The Company was permitted to borrow funds under the December 2011 Citibank Facility to finance qualifying senior commercial mortgage loans and A-Notes, subject to available collateral. Under the December 2011 Citibank Facility, the Company borrowed funds on a revolving basis in the form of individual loans. Each individual loan was secured by an underlying loan originated by the Company. Amounts outstanding under each individual loan accrued interest at a per annum rate equal to 30 day LIBOR plus a pricing margin of 2.25% to 2.75% (subject to a 0.50% LIBOR floor for one mortgage loan pledged on the December 2011 Citibank Facility), based on the debt yield of the assets securing the December 2011 Citibank Facility. The final repayment date on which a payment of principal was contractually obligated to be made in respect of each mortgage loan pledged under the December 2011 Citibank Facility was the earlier of the latest date on which a payment of principal was contractually obligated to be made in respect of each mortgage loan pledged under the Citibank Facility or December 2, 2018. As of December 31, 2013, the outstanding balance on the December 2011 Citibank Facility was $97.5 million.
	The December 2011 Citibank Facility was replaced in its entirety by the December 2014 Citibank Facility (defined below).
	December 2014 Citibank Facility
	In December 2014, the Company entered into a $250.0 million master repurchase facility (the "December 2014 Citibank Facility" and together with the December 2011 Citibank Facility, the "Citibank Facilities") with Citibank, N.A. Under the December 2014 Citibank Facility, the Company has sold, and must later repurchase, qualifying senior commercial mortgage loans and A-Notes approved by Citibank, N.A. in its sole discretion. Advances under the December 2014 Citibank Facility accrue interest at a per annum rate equal to 30 day LIBOR plus a pricing margin of 2.00% to 2.50%, subject to certain exceptions. Under the December 2014 Citibank Facility, the maturity date is December 8, 2016, subject to three 12-month extensions assuming no existing defaults under the December 2014 Citibank Facility and the payment of an extension fee. As of December 31, 2014, the outstanding balance on the December 2014 Citibank Facility was $93.4 million. The Company incurred a non-utilization fee of 25 basis points on the daily available balance of the Citibank Facilities. For the years ended December 31, 2014 and 2013, the Company incurred a non-utilization fee of $316 thousand and $164 thousand, respectively.
	The Citibank Facilities contain various affirmative and negative covenants applicable to the Company and certain of the Company's subsidiaries, including the following: (a) maintaining tangible net worth of at least the sum of (1) 80% of the Company's tangible net worth as of September 30, 2013, plus (2) 80% of the total net capital raised in all future equity issuances by the Company, (b) maintaining liquidity in an amount not less than the greater of (1) $5.0 million or (2) 5% of the Company's recourse indebtedness, not to exceed $10.0 million (provided that in the event the Company's total liquidity equals or exceeds $5.0 million, the Company may satisfy the difference between the minimum total liquidity requirement and the Company's total liquidity with available borrowing capacity), (c) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period to be at least 1.25 to 1.00, (d) maintaining a ratio of total debt to tangible net worth of not more than 4.00 to 1.00, (e) maintaining a ratio of recourse debt to tangible net worth of not more than 3.00 to 1.00 and (f) if certain specific debt yield and loan to value tests are not met with respect to assets on the Citibank Facilities, the Company may be required to repay certain amounts under the Citibank Facilities. The Citibank Facilities also prohibit the Company from amending the management agreement with its Manager in a material respect without the prior consent of the lender. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the December 2014 Citibank Facility.
	Capital One Facility
	The Company is party to a secured revolving funding facility with Capital One, National Association (as amended, the "Capital One Facility"), which allows the Company to borrow up to $100.0 million. The Company is permitted to borrow funds under the Capital One Facility to finance qualifying senior commercial mortgage loans, subject to available collateral. Under the Capital One Facility, the Company borrows funds on a revolving basis in the form of individual notes evidenced by individual loans. Each individual loan is secured by an underlying loan originated by the Company. Amounts outstanding under each individual loan accrue interest at a per annum rate equal to the sum of (i) 30 day LIBOR, plus (ii) a pricing margin of 2.00% to 3.50%. The Company may request individual loans under the Capital One Facility through and including May 18, 2015, subject to successive 12-month extension options at the lender's discretion. The maturity date of each individual loan is the same as the maturity date of the underlying loan that secures such individual loan. As of December 31, 2014 and December 31, 2013, there was no outstanding balance on the Capital One Facility. The Company does not incur a non-utilization fee under the terms of the Capital One Facility.
	The Capital One Facility contains various affirmative and negative covenants applicable to the Company and certain of the Company's subsidiaries, including the following for so long as there is any outstanding balance on the Capital One Facility: (a) maintaining a ratio of debt to tangible net worth of not more than 3.00 to 1.00, (b) maintaining a tangible net worth of at least the sum of (1) 80% of the Company's tangible net worth as of May 1, 2012, plus (2) 80% of the net proceeds received from all future equity issuances by the Company, and (c) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period to be at least 1.25 to 1.00. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the Capital One Facility.
	City National Bank Facilities
	March 2014 CNB Facility
	The Company is party to a $50.0 million secured revolving funding facility with City National Bank (the "March 2014 CNB Facility"). The Company is permitted to borrow funds under the March 2014 CNB Facility to finance new investments and for other working capital and general corporate needs. Advances under the March 2014 CNB Facility accrue interest at a per annum rate equal to the sum of, at the Company's option, either (a) LIBOR for a one, two, three, six or, if available to all lenders, 12-month interest period plus 3.00% or (b) a base rate (which is the highest of a prime rate, the federal funds rate plus 0.50%, or one month LIBOR plus 1.00%) plus 1.25%; provided that in no event shall the interest rate be less than 3.00%. Unless at least 75% of the March 2014 CNB Facility is used on average, unused commitments under the March 2014 CNB Facility accrue unused line fees at the rate of 0.375% per annum. For the year ended December 31, 2014, the Company incurred a non-utilization fee of $82 thousand. The initial maturity date is March 11, 2016, subject to one 12-month extension at the Company's option provided that certain conditions are met. As of December 31, 2014, the outstanding balance on the March 2014 CNB Facility was $42.0 million.
	The agreements governing the March 2014 CNB Facility contain various representations and warranties, and impose certain covenants on the Company and certain of its subsidiaries, as borrower under the March 2014 CNB Facility, including the following: (a) limitations on the incurrence of additional indebtedness or liens, (b) limitations on how borrowed funds may be used, (c) limitations on certain distributions and dividend payments following a default or event of default, (d) limitations on dispositions of assets, (e) maintenance of minimum total asset value by the borrower under the March 2014 CNB Facility and its subsidiaries, and (f) prohibitions of certain change of control events. The agreements governing the March 2014 CNB Facility also impose certain covenants on the Company, including the following: (i) maintaining a ratio of total debt to tangible net worth of not more than 4.00 to 1.00, (ii) maintaining a ratio of recourse debt to tangible net worth of not more than 3.00 to 1.00, (iii) maintaining a tangible net worth of at least 80% of the Company's net worth as of September 30, 2013, plus 80% of the net cash proceeds raised in equity issuances by the Company after March 12, 2014, (iv) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period of at least 1.25 to 1.00, (v) limitations on mergers, consolidations, transfers of assets and similar transactions, and (vi) maintaining its status as a REIT. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the March 2014 CNB Facility.
	July 2014 CNB Facility
	In July 2014, the Company and certain of its subsidiaries entered into a $75.0 million revolving funding facility (the "July 2014 CNB Facility" and together with the March 2014 CNB Facility, the "CNB Facilities") with City National Bank. The Company is permitted to borrow funds under the July 2014 CNB Facility to finance new investments and for other working capital and general corporate needs. Advances under the July 2014 CNB Facility accrue interest at a per annum rate equal, at the Company's option, to either (a) LIBOR for a one, two, three, six or, if available to all lenders, 12-month interest period plus 1.50% or (b) a base rate (which is the highest of a prime rate, the federal funds rate plus 0.50%, or one month LIBOR plus 1.00%) plus 0.25%; provided that in no event shall the interest rate be less than 1.50%. Unless at least 75% of the July 2014 CNB Facility is used on average, unused commitments under the July 2014 CNB Facility accrue unused line fees at the rate of 0.125% per annum. For the year ended December 31, 2014, the Company incurred a non-utilization fee of $15 thousand. The initial maturity date is July 31, 2015, subject to one 12-month extension option, provided that certain conditions are met and applicable extension fees are paid. As of December 31, 2014, the outstanding balance on the July 2014 CNB Facility was $75.0 million.
	The agreements governing the July 2014 CNB Facility contain various representations and warranties, and impose certain covenants on the Company and certain of its subsidiaries, as borrower under the July 2014 CNB Facility, including the following: (a) limitations on the incurrence of additional indebtedness or liens, (b) limitations on how borrowed funds may be used, (c) limitations on certain distributions and dividend payments following a default or event of default, (d) limitations on dispositions of assets, (e) maintenance of minimum total asset value by the borrower under the July 2014 CNB Facility and its subsidiaries and (f) prohibitions of certain change of control events. The agreements governing the July 2014 CNB Facility also impose certain covenants on the Company, including the following: (i) maintaining a ratio of total debt to tangible net worth of not more than 4.00 to 1.00, (ii) maintaining a ratio of recourse debt to tangible net worth of not more than 3.00 to 1.00, (iii) maintaining a tangible net worth of at least 80% of the Company's net worth as of September 30, 2013, plus 80% of the net cash proceeds raised in equity issuances by the Company after July 30, 2014, (iv) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period of at least 1.25 to 1.00, (v) limitations on mergers, consolidations, transfers of assets and similar transactions and (vi) maintaining its status as a REIT. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the July 2014 CNB Facility.
	See Note 15 included in these consolidated financial statements for more information on a Credit Support Fee Agreement between Ares Management and the Company.
	MetLife Facility
	On August 13, 2014, the Company and certain of its subsidiaries entered into a $180.0 million revolving master repurchase facility (the "MetLife Facility") with Metropolitan Life Insurance Company ("MetLife"), pursuant to which the Company may sell, and later repurchase, commercial mortgage loans meeting defined eligibility criteria which are approved by MetLife in its sole discretion ("Eligible Assets"). The initial purchase price paid by MetLife for any Eligible Asset is based on a specified percentage of the relevant value under the MetLife Facility. Advances under the MetLife Facility accrue interest at a per annum rate of 30 day LIBOR plus 2.35%. The Company will pay MetLife, if applicable, an annual make-whole fee equal to the amount by which the aggregate price differential paid over the term of the MetLife Facility is less than the defined minimum price differential, unless certain conditions are met. The initial maturity date of the MetLife Facility is August 12, 2017, subject to two annual extensions at the Company's option, provided that certain conditions are met, including payment of an extension fee. As of December 31, 2014, the outstanding balance on the MetLife Facility was $144.7 million.
	The agreements governing the MetLife Facility contain various representations and warranties, and impose certain covenants on the Company and certain of its subsidiaries, as borrower under the MetLife Facility, including the following: (a) limitations on the incurrence of additional indebtedness or liens, (b) limitations on how borrowed funds may be used, (c) limitations on certain distributions and dividend payments following a default or event of default, and (d) limitations on dispositions of assets. The agreements governing the MetLife Facility also impose certain covenants on the Company, including the following: (i) maintaining a ratio of total debt to tangible net worth of not more than 4.00 to 1.00, (ii) maintaining a ratio of recourse debt to tangible net worth of not more than 3.00 to 1.00, (iii) maintaining a tangible net worth of at least 80% of the Company's net worth as of September 30, 2013, plus 80% of the net cash proceeds raised in equity issuances by the Company after August 13, 2014, (iv) maintaining a fixed charge coverage ratio (expressed as the ratio of EBITDA (net income before net interest expense, income tax expense, depreciation and amortization), as defined, to fixed charges) for the immediately preceding 12-month period ending on the last date of the applicable reporting period of at least 1.25 to 1.00, and (v) if certain specific debt yield, loan to value or other credit based tests are not met with respect to assets on the MetLife Facility, the Company may be required to repay certain amounts under the MetLife Facility. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the MetLife Facility.
	UBS Facilities
	April 2014 UBS Facility
	In December 2014, in connection with the execution of the December 2014 UBS Facility (defined below), the Company amended the revolving master repurchase facility (the "April 2014 UBS Facility") with UBS Real Estate Securities Inc. ("UBS") to, among other things, decrease the size of the facility from $195.0 million to $140.0 million. The Company may sell, and later repurchase, commercial mortgage loans and, under certain circumstances, commercial real estate mezzanine loans and other assets meeting defined eligibility criteria that are approved by UBS in its sole discretion. The initial purchase price paid by UBS for assets financed under the April 2014 UBS Facility is based on a specified percentage of the relevant value under the April 2014 UBS Facility. The price differential (or interest rate) on the April 2014 UBS Facility is one-month LIBOR plus 1.88%, excluding amortization of commitment and exit fees. Upon termination of the April 2014 UBS Facility, the Company will pay UBS, if applicable, the amount by which the aggregate price differential paid over the term of the April 2014 UBS Facility is less than the defined minimum price differential and an exit fee, in each case, unless certain conditions are met. The initial maturity date of the April 2014 UBS Facility is April 7, 2017, subject to annual extensions in UBS' sole discretion. As of December 31, 2014, the outstanding balance on the April 2014 UBS Facility was $19.7 million.
	The April 2014 UBS Facility contains margin call provisions that provide UBS with certain rights if the applicable percentage of the aggregate asset value of the purchased assets under the April 2014 UBS Facility is less than the aggregate purchase price for such assets. The April 2014 UBS Facility is fully guaranteed by the Company and requires the Company to maintain certain financial and other covenants including the following: (a) maintaining a ratio of (i) recourse debt to tangible net worth of not more than 3.00 to 1.00 and (ii) total debt to tangible net worth of not more than 4.00 to 1.00, (b) maintaining a tangible net worth of at least 80% of the Company's net worth as of September 30, 2013, plus 80% of net cash proceeds received from all subsequent equity issuances by the Company, and (c) maintaining a fixed charge coverage ratio (expressed as the ratio of adjusted-EBITDA (net income before net interest expense, income tax expense, depreciation and amortization) to fixed charges) for the immediately preceding 12-month period ending on the last day of the applicable reporting period of at least 1.25 to 1.00. In addition, the April 2014 UBS Facility contains certain affirmative and negative covenants and provisions regarding events of default that are customary for similar repurchase facilities. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the April 2014 UBS Facility.
	December 2014 UBS Facility
	The Company is party to a global master repurchase agreement (the "December 2014 UBS Facility") with UBS AG ("UBS AG"), pursuant to which the Company will sell, and later repurchase, certain retained subordinate notes in the Company's CMBS securitization (the "Purchased Securities") for an aggregate purchase price equal to $57.2 million. The scheduled repurchase date of the Purchased Securities under the December 2014 UBS Facility is January 6, 2016 (the "Repurchase Date"). The transaction fee (or interest rate), which is payable monthly on the December 2014 UBS Facility, is equal to one-month LIBOR plus 2.74% per annum on the outstanding amount. If the outstanding amount of the Purchased Securities subject to the December 2014 UBS Facility is reduced or repaid prior to the Repurchase Date, UBS AG shall be entitled to a termination fee. As of December 31, 2014, the outstanding balance on the December 2014 UBS Facility was $57.2 million.
	The December 2014 UBS Facility also contains margin call provisions that provide UBS AG with certain rights if the applicable percentage of the aggregate asset value of the Purchased Securities is less than the aggregate purchase price for such Purchased Securities. The December 2014 UBS Facility is fully guaranteed by the Company and requires the Company to maintain certain financial and other covenants including the following: (a) maintaining a ratio of (i) recourse debt to tangible net worth of not more than 3.00 to 1.00 and (ii) total debt to tangible net worth of not more than 4.00 to 1.00, (b) maintaining a tangible net worth of at least 80% of the Company's net worth as of September 30, 2013, plus 80% of net cash proceeds received from all subsequent equity issuances by the Company, and (c) maintaining a fixed charge coverage ratio (expressed as the ratio of adjusted-EBITDA (net income before net interest expense, income tax expense, depreciation and amortization) to fixed charges) for the immediately preceding 12-month period ending on the last day of the applicable reporting period of at least 1.25 to 1.00. In addition, the December 2014 UBS Facility contains certain affirmative and negative covenants and provisions regarding events of default that are customary for similar repurchase facilities. As of December 31, 2014, the Company was in compliance in all material respects with the terms of the December 2014 UBS Facility.
	Warehouse Lines of Credit
	ASAP Line of Credit
	ACRE Capital is party to a multifamily as soon as pooled ("ASAP") sale agreement with Fannie Mae (the "ASAP Line of Credit") to finance installments received from Fannie Mae. To the extent the ASAP Line of Credit remains active through utilization, there is no expiration date. The commitment amount is subject to change at any time at Fannie Mae's discretion. Fannie Mae advances payment to ACRE Capital in two separate installments according to the terms as set forth in the ASAP sale agreement. The first installment is considered an advance to ACRE Capital from Fannie Mae and not a sale until the second advance and settlement is made. As of December 31, 2014, the outstanding balance under the ASAP Line of Credit was $58.5 million. As of December 31, 2013, there was no outstanding balance under the ASAP Line of Credit.
	BAML Line of Credit
	In November 2014, ACRE Capital amended the line of credit with Bank of America, N.A. (as amended and restated, the "BAML Line of Credit") to, among other things, increase the size of the commitment from $80.0 million to $180.0 million for the period November 25, 2014 through January 26, 2015 to accommodate production volume during this time. The stated interest rate on the BAML Line of Credit is LIBOR Daily Floating Rate plus 1.60%. The maturity date of the BAML Line of Credit is April 15, 2015. For the years ended December 31, 2014 and 2013, the Company incurred a non-utilization fee of $84 thousand and $26 thousand, respectively. As of December 31, 2014, the outstanding balance under the BAML Line of Credit was $134.7 million. As of December 31, 2013, there was no outstanding balance under the BAML Line of Credit. See Note 22 included in these consolidated financial statements for information on a subsequent event relating to the BAML Line of Credit.
	The BAML Line of Credit is collateralized by a first lien on ACRE Capital's interest in the mortgage loans that it originates. Advances from the BAML Line of Credit cannot exceed 100% of the principal amounts of the mortgage loans originated by ACRE Capital and must be repaid at the earlier of the sale or other disposition of the mortgage loans or at the expiration date of the BAML Line of Credit. The terms of the BAML Line of Credit require ACRE Capital to comply with various covenants, including a minimum tangible net worth requirement. As of December 31, 2014, ACRE Capital was in compliance in all material respects with the terms of the BAML Line of Credit.
	2015 Convertible Notes
	On December 19, 2012, the Company issued $69.0 million aggregate principal amount of the 2015 Convertible Notes. Of this aggregate principal amount, $60.5 million aggregate principal amount of the 2015 Convertible Notes was sold to the initial purchasers (including $9.0 million pursuant to the initial purchasers' exercise in full of their overallotment option) and $8.5 million aggregate principal amount of the 2015 Convertible Notes was sold directly to certain directors, officers and affiliates of the Company in a private placement. The 2015 Convertible Notes were issued pursuant to an Indenture, dated December 19, 2012 (the "Indenture"), between the Company and U.S. Bank National Association, as trustee. The sale of the 2015 Convertible Notes generated net proceeds of approximately $66.2 million. Aggregate estimated offering expenses in connection with the transaction, including the initial purchasers' discount of approximately $2.1 million, were approximately $2.8 million. As of December 31, 2014 and 2013, the carrying value of the 2015 Convertible Notes was $68.4 million and $67.8 million, respectively.
	The 2015 Convertible Notes bear interest at a rate of 7.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on June 15, 2013. The estimated effective interest rate of the 2015 Convertible Notes, which is equal to the stated rate of 7.00% plus the accretion of the original issue discount and associated costs, was 9.4% for the years ended December 31, 2014 and 2013. For the years ended December 31, 2014 and 2013, the interest expense incurred on this indebtedness was $6.3 million and $6.2 million, respectively. The 2015 Convertible Notes will mature on December 15, 2015 (the "Maturity Date"), unless previously converted or repurchased in accordance with their terms. The 2015 Convertible Notes are the Company's senior unsecured obligations and rank senior in right of payment to the Company's existing and future indebtedness that is expressly subordinated in right of payment to the 2015 Convertible Notes; equal in right of payment to the Company's existing and future unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company's secured indebtedness (including existing unsecured indebtedness that the Company later secures) to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness (including trade payables) incurred by the Company's subsidiaries, financing vehicles or similar facilities.
	Prior to the close of business on the business day immediately preceding June 15, 2015, holders may convert their 2015 Convertible Notes only under certain circumstances as set forth in the Indenture. On or after June 15, 2015 until the close of business on the scheduled trading day immediately preceding the Maturity Date, holders may convert their 2015 Convertible Notes at any time. Upon conversion, the Company will pay or deliver, as the case may be, at its election, cash, shares of its common stock or a combination of cash and shares of its common stock. The conversion rate is initially 53.6107 shares of common stock per $1,000 principal amount of 2015 Convertible Notes (equivalent to an initial conversion price of approximately $18.65 per share of common stock). The conversion rate will be subject to adjustment in some events, including for regular quarterly dividends in excess of $0.35 per share, but will not be adjusted for any accrued and unpaid interest. In addition, if certain corporate events occur prior to the Maturity Date, the conversion rate will be increased but will in no event exceed 61.6523 shares of common stock per $1,000 principal amount of 2015 Convertible Notes.
Prior to June 26, 2013, the Company could not elect to issue shares of common stock upon conversion of the 2015 Convertible Notes to the extent such election would result in the issuance of 20% or more of the common stock outstanding immediately prior to the issuance of the 2015 Convertible Notes until the Company received stockholder approval for issuances above this threshold. Until such stockholder approval was obtained, the Company could not share-settle the full conversion option. As a result, the embedded conversion option did not qualify for equity classification and instead was separately valued and accounted for as a derivative liability. The initial value allocated to the derivative liability was $1.7 million, which represented a discount to the debt cost to be amortized through interest expense using the effective interest method through the maturity of the 2015 Convertible Notes. The effective interest rate used to amortize the debt discount on the 2015 Convertible Notes was 9.4%. During each reporting period, the derivative liability was marked to fair value through earnings.
On June 26, 2013, stockholder approval was obtained for the issuance of shares in excess of 20% of the Company's common stock outstanding to satisfy any conversions of the 2015 Convertible Notes. As a result, the Company has the ability to fully settle in shares the conversion option and the embedded conversion option is no longer required to be separately valued and accounted for as a derivative liability on a prospective basis. As of June 26, 2013, the conversion option's cumulative value of $86 thousand was reclassified to additional paid-in capital and will no longer be marked-to-market through earnings. The remaining debt discount of $1.5 million as of June 26, 2013, which arose at the date of debt issuance from the original bifurcation, will continue to be amortized through interest expense.
The Company does not have the right to redeem the 2015 Convertible Notes prior to the Maturity Date, except to the extent necessary to preserve its qualification as a REIT. No sinking fund is provided for the 2015 Convertible Notes. In addition, if the Company undergoes certain corporate events that constitute a "fundamental change," the holders of the 2015 Convertible Notes may require the Company to repurchase for cash all or part of their 2015 Convertible Notes at a repurchase price equal to 100% of the principal amount of the 2015 Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.
At December 31, 2014, approximate principal maturities of the Company's Financing Facilities and the 2015 Convertible Notes are as follows ($ in thousands):
		Wells		December			Capital		March		July		MetLife		April		December		2015		ASAP		BAML		Total
		Fargo		2014			One		2014		2014		Facility		2014		2014		Convertible		Line of		Line of
		Facility		Citibank			Facility		CNB		CNB				UBS		UBS		Notes		Credit		Credit
				Facility					Facility		Facility				Facility		Facility
2015		$	120,766	$	—		$	—	$	—	$	75,000	$	—	$	—	$	—	$	69,000	$	58,469	$	134,696	$	457,931
2016			—		93,432			—		42,000		—		—		—		57,243		—		—		—		192,675
2017			—		—			—		—		—		144,673		19,685		—		—		—		—		164,358
2018			—		—			—		—		—		—		—		—		—		—		—		—
2019			—		—			—		—		—		—		—		—		—		—		—		—
Thereafter			—		—			—		—		—		—		—		—		—		—		—		—
		$	120,766	$	93,432		$	—	$	42,000	$	75,000	$	144,673	$	19,685	$	57,243	$	69,000	$	58,469	$	134,696	$	814,964

ALLOWANCE_FOR_LOSS_SHARING

ALLOWANCE FOR LOSS SHARING	12 Months Ended
	Dec. 31, 2014
ALLOWANCE FOR LOSS SHARING
ALLOWANCE FOR LOSS SHARING
	7.     ALLOWANCE FOR LOSS SHARING
	Loans originated and sold by ACRE Capital to Fannie Mae under the Fannie Mae DUS program are subject to the terms and conditions of a Master Loss Sharing Agreement by ACRE Capital, which was amended and restated during 2012. Under the Master Loss Sharing Agreement, ACRE Capital is responsible for absorbing certain losses incurred by Fannie Mae with respect to loans originated under the DUS program, as described below in more detail. The compensation for this risk of loss is a component of servicing fees on the loan.
	The losses incurred with respect to individual loans are allocated between ACRE Capital and Fannie Mae based on the loss level designation ("Loss Level") for the particular loan. Loans are designated as Loss Level I, Loss Level II or Loss Level III. All loans are designated Loss Level I unless Fannie Mae and ACRE Capital agree upon a different Loss Level for a particular loan at the time of the loan commitment, or if Fannie Mae determines that the loan was not underwritten, processed or serviced according to Fannie Mae guidelines.
	Losses on Loss Level I loans are shared 33.33% by ACRE Capital and 66.67% by Fannie Mae. The maximum amount of ACRE Capital's risk-sharing obligation with respect to any Loss Level I loan is 33.33% of the original principal amount of the loan. Losses incurred in connection with Loss Level II and Loss Level III loans are allocated disproportionately to ACRE Capital until ACRE Capital has absorbed the maximum level of its risk-sharing obligation with respect to the particular loan. The maximum loss allocable to ACRE Capital for Loss Level II loans is 30% of the original principal amount of the loan, and for Loss Level III loans is 40% of the original principal amount of the loan.
	According to the Master Loss Sharing Agreement, Fannie Mae may unilaterally increase the amount of the risk-sharing obligation of ACRE Capital with respect to individual loans without regard to a particular Loss Level if (i) the loan does not meet specific underwriting criteria, (ii) the loan is defaulted within twelve (12) months after it is purchased by Fannie Mae, or (iii) Fannie Mae determines that there was fraud, material misrepresentation or gross negligence by ACRE Capital in its underwriting, closing, delivery or servicing of the loan. Under certain limited circumstances, Fannie Mae may require ACRE Capital to absorb 100% of the losses incurred on a loan by requiring ACRE Capital to repurchase the loan.
	The amount of loss incurred on a particular loan is determined at the time the loss is incurred, for example, at the time a property is foreclosed by Fannie Mae (whether acquired by Fannie Mae or a third party) or at the time a loan is modified in connection with a default. Losses may be determined by reference to the price paid by a third party at a foreclosure sale or by reference to an appraisal obtained by Fannie Mae in connection with the default on the loan.
	In connection with the Company's acquisition of ACRE Capital, Alliant, Inc., a Florida corporation, and The Alliant Company, LLC, a Florida limited liability company (the "Sellers"), are jointly and severally obligated to fund directly (if permitted) or to reimburse ACRE Capital for amounts due and owing after the closing date to Fannie Mae pursuant to ACRE Capital's allowance for loss sharing with respect to settlement of certain DUS program mortgage loans originated and serviced by ACRE Capital, subject to certain limitations. In addition, the Sellers are jointly and severally obligated to indemnify ACRE Capital for, among other things, certain losses arising from Sellers' failure to fulfill the funding or reimbursement obligations described above. As of December 31, 2014 and 2013, the preliminary estimate of the portion of such contributions towards such losses relating to the allowance for loss sharing of ACRE Capital is $494 thousand and $1.9 million, respectively, and is included within other assets in the consolidated balance sheets. Additionally, with respect to the settlement of certain non-designated DUS program mortgage loans originated and serviced by ACRE Capital, the Sellers are jointly and severally obligated to fund directly (if permitted) or to reimburse ACRE Capital in each of the three 12 month periods following the closing date for eighty percent (80%) of amounts due and owing after the closing date to Fannie Mae pursuant to ACRE Capital's allowance for loss sharing in excess of $2.0 million during such 12 month period; provided that in no event shall Sellers obligations exceed in the aggregate $3.0 million for the entire three year period.
	ACRE Capital uses several tools to manage its risk-sharing obligation, including maintenance of disciplined underwriting and approval processes and procedures, and periodic review and evaluation of underwriting criteria based on underlying multifamily housing market data and limitation of exposure to particular geographic markets and submarkets and to individual borrowers. In situations where payment under the guaranty is probable and estimable on a specific loan, the Company records an additional liability through a charge to the provision for loss sharing in the consolidated statements of operations. The amount of the provision reflects the Company's assessment of the likelihood of payment by the borrower, the estimated disposition value of the underlying collateral and the level of risk-sharing. Historically, among other factors, the loss recognition occurs at or before the loan becoming 60 days delinquent.
	A summary of the Company's allowance for loss sharing for the years ended December 31, 2014 and 2013 is as follows ($ in thousands):
	Allowance for loss sharing assumed in the ACRE Capital acquisition (See Note 18)	$	18,386
	Current period provision for loss sharing		6
	Settlements/Writeoffs		(1,912	)
	Balance at December 31, 2013	$	16,480
	Current period provision for loss sharing		(1,364	)
	Settlements/Writeoffs		(2,767	)
	Balance at December 31, 2014	$	12,349
	As of December 31, 2014 and 2013, the maximum quantifiable allowance for loss sharing associated with the Company's guarantees under the Fannie Mae DUS agreement was $1.1 billion and $1.3 billion, respectively, from a total recourse at risk pool of $3.2 billion and $3.7 billion, respectively. Additionally, as of December 31, 2014 and 2013, the non-at risk pool was $2.0 million and $5.2 million, respectively. The at risk pool is subject to Fannie Mae's Master Loss Sharing Agreement and the non-at risk pool is not subject to such agreement. The maximum quantifiable allowance for loss sharing is not representative of the actual loss the Company would incur. The Company would be liable for this amount only if all of the loans it services for Fannie Mae, for which the Company retains some risk of loss, were to default and all of the collateral underlying these loans was determined to be without value at the time of settlement.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
	8.     COMMITMENTS AND CONTINGENCIES
	As of December 31, 2014 and 2013, the Company had the following commitments to fund various stretch senior mortgage loans, transitional senior mortgage loans, subordinated and mezzanine debt investments, as well as preferred equity investments accounted for as loans held for investment:
		As of December 31,
	$ in thousands	2014			2013
	Total commitments	$	1,565,117		$	1,191,212
	Less: funded commitments		(1,395,281	)		(1,050,674	)
	Total unfunded commitments	$	169,836		$	140,538
	Commitments to extend credit by ACRE Capital are generally agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Occasionally, the commitments may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. As of December 31, 2014 and 2013, ACRE Capital had the following commitments to sell and fund loans:
		As of December 31,
	$ in thousands	2014			2013
	Commitments to sell loans	$	249,803		$	56,115
	Commitments to fund loans		51,109			51,794
	Lease Commitments
	ACRE Capital is obligated under a number of operating leases for office spaces with terms ranging from less than one year to more than five years. Rent expense for the years ended December 31, 2014 and 2013 was $983 thousand and $230 thousand, respectively.
	The following table shows future minimum payments under the Company's operating leases for the year ended December 31, 2014 ($ in thousands):
	For the year ended December 31, 2014
	2015	$	565
	2016		790
	2017		839
	2018		839
	2019		765
	Thereafter		1,718
	Total	$	5,516
	The Company from time to time may be party to litigation relating to claims arising in the normal course of business. As of December 31, 2014, the Company is not aware of any legal claims that could materially impact its business, financial condition or results of operations.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2014
DERIVATIVES
DERIVATIVES
	9.     DERIVATIVES
	Non-designated Hedges
	Derivatives not designated as hedges are derivatives that do not meet the criteria for hedge accounting under GAAP or for which the Company has not elected to designate as hedges. Changes in the fair value of derivatives related to the loan commitments and forward sale commitments are recorded directly in gains from mortgage banking activities in the consolidated statements of operations.
	Loan commitments and forward sale commitments
	Through its subsidiary, ACRE Capital, the Company enters into loan commitments with borrowers on loan originations whereby the interest rate on the prospective loan is determined prior to funding. In general, ACRE Capital simultaneously enters into forward sale commitments with investors in order to hedge against the interest rate exposure on loan commitments. The forward sale commitment with the investor locks in an interest rate and price for the sale of the loan. The terms of the loan commitment with the borrower and the forward sale commitment with the investor are matched with the objective of hedging interest rate risk. Loan commitments and forward sale commitments are considered undesignated derivative instruments. Accordingly, such commitments, along with any related fees received from potential borrowers, are recorded at fair value, with changes in fair value recorded in earnings. For the year ended December 31, 2014, the Company entered into 36 loan commitments and 36 forward sale commitments. For the year ended December 31, 2013, the Company entered into 20 loan commitments and 20 forward sale commitments.
	As of December 31, 2014, the Company had one loan commitment with a total notional amount of $51.1 million and ten forward sale commitments with a total notional amount of $249.8 million, with maturities ranging from nine days to 23 months that were not designated as hedges in qualifying hedging relationships. As of December 31, 2013, the Company had two loan commitments with a total notional amount of $51.8 million and five forward sale commitments with a total notional amount of $56.1 million, with maturities ranging from 24 to 60 days that were not designated as hedges in qualifying hedging relationships.
	Right to acquire MSRs
	In connection with the acquisition of ACRE Capital, the Company assumed the right to acquire the servicing for certain HUD loans at a future date. This right was contingent upon satisfaction of certain conditions, which were all satisfied in the fourth quarter of 2013. Accordingly, the Company assumed servicing of these loans as of January 1, 2014. Pursuant to the acquisition method of accounting, a gain on acquisition related to these MSRs was recognized retrospectively as of August 30, 2013, the acquisition date of Alliant Capital. The derivative asset associated with the right to service these loans in 2014 is included within other assets in the consolidated balance sheets as of December 31, 2013.
	Embedded conversion option
	In connection with the issuance of the 2015 Convertible Notes, the Company could not elect to issue shares of common stock upon conversion of the 2015 Convertible Notes to the extent such election would result in the issuance of 20% or more of the common stock outstanding immediately prior to the issuance of the 2015 Convertible Notes until the Company received stockholder approval for issuances above this threshold. As a result, the embedded conversion option did not qualify for equity classification and instead was separately valued and accounted for as a derivative liability. On June 26, 2013, stockholder approval was obtained for the issuance of shares in excess of 20% of the Company's common stock outstanding to satisfy any conversions of the 2015 Convertible Notes. As a result, the Company had the ability to fully settle in shares the conversion option and the embedded conversion option was no longer required to be separately valued and accounted for as a derivative liability on a prospective basis. As of December 31, 2014 and 2013, there was no derivative liability. For the year ended December 31, 2013, changes in the fair value of the embedded conversion option are included within changes in fair value of derivatives in the consolidated statements of operations.
	The table below presents the fair value of the Company's derivative financial instruments as well as their classification within the Company's consolidated balance sheets as of December 31, 2014 and 2013 ($ in thousands):
		As of December 31,
		2014				2013
		Balance Sheet	Fair Value			Balance Sheet	Fair Value
		Location				Location
	Derivatives not designated as hedging instruments
	Loan commitments	Other assets	$	3,082		Other assets	$	2,038
	Forward sale commitments	Other assets		116		Other assets		272
	Right to acquire MSRs	Other assets		—		Other assets		1,717
	Forward sale commitments	Other liabilities		(1,528	)	Other liabilities		(500	)
	Total derivatives not designated as hedging instruments		$	1,670			$	3,527

SERIES_A_CONVERTIBLE_PREFERRED

SERIES A CONVERTIBLE PREFERRED STOCK	12 Months Ended
	Dec. 31, 2014
SERIES A CONVERTIBLE PREFERRED STOCK
SERIES A CONVERTIBLE PREFERRED STOCK
	10.   SERIES A CONVERTIBLE PREFERRED STOCK
	On February 8, 2012, the Company's board of directors adopted resolutions classifying and designating 600 shares of authorized preferred stock as shares of Series A Convertible Preferred Stock, par value $0.01 per share ("Series A Preferred Stock"). Holders of shares of Series A Preferred Stock were entitled to receive, when and as authorized by the Company's board of directors and declared by us out of funds legally available for that purpose, dividends at the Prevailing Dividend Rate, compounded quarterly. The "Prevailing Dividend Rate" means (a) beginning on the issue date through and including December 31, 2012, 10% per annum, (b) beginning on January 1, 2013 through and including December 31, 2013, 11% per annum, (c) beginning on January 1, 2014 through and including December 31, 2014, 12% per annum, and (d) beginning on January 1, 2015 and thereafter, 13% per annum; provided, however, that the Prevailing Dividend Rate may decrease by certain specified amounts if the Company achieves a certain coverage ratio.
	Shares of Series A Preferred Stock were redeemable by the Company at any time, in whole or in part, beginning on September 30, 2012, at the applicable redemption price. Additionally, shares of Series A Preferred Stock were redeemable at the option of the holder upon an IPO, at the applicable redemption price. Holders of shares of the Series A Preferred Stock exercised this redemption in connection with the IPO and no shares of Series A Preferred Stock were outstanding as of December 31, 2014 and December 31, 2013.
	During the year ended December 31, 2012, the Company issued 114.4578 shares of Series A Preferred Stock for an aggregate subscription price of approximately $5.7 million, paid a cash dividend of $102 thousand, and recognized the accretion of $572 thousand for the redemption premium for a total balance of approximately $6.3 million. The redemption price for redeemed shares of Series A Preferred Stock was equal to (i) the sum of (a) the subscription price, (b) any dividends per share added thereto pursuant to the terms of the Series A Preferred Stock and (c) any accrued and unpaid dividends per share plus (ii) an amount equal to a percentage of the subscription price of the Series A Preferred Stock and 10%.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2014
EQUITY
EQUITY
	11.   EQUITY
	The following table summarizes the total shares issued and proceeds received in public offerings of the Company's common stock net of offering costs for the years ended December 31, 2013 and 2012 (in millions, except per share data):
			Shares Issued			Offering Price			Proceeds net of
						per share			offering costs
	2013
	Jul-13			601,590	-1	$	13.50			7.7
	Jun-13			18,000,000		$	13.50			234.6
	Total for the year ended December 31, 2013			18,601,590						242.3
	2012
	May-12			7,700,000		$	18.50			139.0
	Total for the year ended December 31, 2012			7,700,000						139.0
	-1	The Company granted the underwriters an option to purchase up to an additional 2.7 million shares of common stock. This amount represents the partial exercise of the option to purchase additional shares by the underwriters.
	The net proceeds were used to invest in target investments, repay indebtedness, fund future funding commitments on existing loans and for other general corporate purposes. There were no shares issued in public or private offerings for the year ended December 31, 2014.
	See Note 18 included in these consolidated financial statements for information regarding shares of the Company's common stock issued in a private placement.
	Equity Incentive Plan
	On April 23, 2012, the Company adopted an equity incentive plan (the "2012 Equity Incentive Plan"). Pursuant to the 2012 Equity Incentive Plan, the Company may grant awards consisting of restricted shares of the Company's common stock, restricted stock units and/or other equity-based awards to the Company's outside directors, employees, officers, ACREM and other eligible awardees under the plan, subject to an aggregate limitation of 690,000 shares of common stock (7.5% of the issued and outstanding shares of the Company's common stock immediately after giving effect to the issuance of the shares sold in the IPO). Any restricted shares of the Company's common stock and restricted stock units will be accounted for under FASB ASC Topic 718, Compensation—Stock Compensation ("ASC 718"), resulting in share-based compensation expense equal to the grant date fair value of the underlying restricted shares of common stock or restricted stock units.
	Restricted stock grants generally vest ratably over a one to four year period from the vesting start date. The grantee receives additional compensation for each outstanding restricted stock grant, classified as dividends paid, equal to the per-share dividends received by common stockholders.
	During the year ended December 31, 2014, an ACRE Capital employee was granted restricted stock that vests in proportion to certain financial performance targets being met over a specified period of time. The fair value of the performance based restricted stock granted is recorded to expense on an accelerated basis using the accelerated attribution method over the performance period for the award, with an offsetting increase in stockholders' equity.
	The following table details the restricted stock grants awarded as of December 31, 2014.
	Grant Date		Vesting Start Date		Shares Granted
	May 1, 2012		July 1, 2012			35,135
	June 18, 2012		July 1, 2012			7,027
	July 9, 2012		October 1, 2012			25,000
	June 26, 2013		July 1, 2013			22,526
	November 25, 2013		November 25, 2016			30,381
	January 31, 2014		March 15, 2016			48,273
	February 26, 2014		February 26, 2014			12,030
	February 27, 2014		August 27, 2014			22,354
	June 24, 2014		June 24, 2014			17,658
	Total					220,384
	The following tables summarize the non-vested shares of restricted stock and the vesting schedule of shares of restricted stock for the Company's directors and officers and employees of ACRE Capital as of December 31, 2014.
	Schedule of Non-Vested Share and Share Equivalents
			Restricted Stock			Restricted Stock			Restricted Stock			Total
			Grants—Directors			Grants—Officer			Grants—Employees
	Balance as of December 31, 2013			25,420			17,186			30,381			72,987
	Granted			29,688			—			70,627			100,315
	Vested			(31,290	)		(6,250	)		(4,471	)		(42,011	)
	Forfeited			(2,494	)		—			(17,883	)		(20,377	)
	Balance as of December 31, 2014			21,324			10,936			78,654			110,914
	Future Anticipated Vesting Schedule
			Restricted Stock			Restricted Stock			Restricted Stock			Total
			Grants—Directors			Grants—Officer			Grants—Employees(1)
	2015			16,320			6,250			—			22,570
	2016			4,170			4,686			30,381			39,237
	2017			834			—			—			834
	2018			—			—			—			—
	2019			—			—			—			—
	Total			21,324			10,936			30,381			62,641
	-1	Future anticipated vesting related to employees of ACRE Capital that were granted restricted stock that vests in proportion to certain financial performance targets being met over a specified period of time are not included due to uncertainty in actual vesting date.
	The following table summarizes the restricted stock compensation expense included in general and administrative expenses for ACRE and compensation and benefits for ACRE Capital, the total fair value of shares vested and the weighted average grant date fair value of the restricted stock granted to the Company's directors and officers and employees of ACRE Capital for the years ended December 31, 2014 and 2013 ($ in thousands):
			For the Year Ended December 31,
			2014												2013
			Restricted Stock Grants												Restricted Stock Grants
			Directors			Officer			Employees			Total			Directors		Officer		Employees		Total
	Compensation expense		$	445		$	106		$	388		$	939		$	408	$	106	$	10	$	524
	Total fair value of shares vested (1)			399			79			56			534			366		92		—		458
	Weighted average grant date fair value			385			—			944						289		—		398
	-1	Based on the closing price of the Company's common stock on the NYSE on each vesting date.
	As of December 31, 2014 and 2013, the total compensation cost related to non-vested awards not yet recognized totaled $1.1 million and $967 thousand, respectively, and the weighted-average period over which the non-vested awards are expected to be recognized is 2.60 years and 2.17 years, respectively.
	Non-Controlling Interests
	The non-controlling interests held by third parties in the Company's consolidated balance sheets represent the equity interests in a limited liability company, ACRC KA Investor LLC ("ACRC KA") that are not owned by the Company. A portion of ACRC KA's consolidated equity and statement of operations are allocated to these non-controlling interests held by third parties based on their pro-rata ownership of ACRC KA. As of December 31, 2014, ACRC KA's total equity was $170.7 million, of which $92.8 million was owned by the Company and $77.9 million was allocated to non-controlling interests held by third parties. See Note 17 included in these consolidated financial statements for more information on ACRC KA.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2014
EARNINGS PER SHARE
EARNINGS PER SHARE
	12.   EARNINGS PER SHARE
	The following information sets forth the computations of basic and diluted earnings per common share for the years ended December 31, 2014, 2013 and 2012:
		For the year ended December 31,
	$ in thousands (except share and per share data)	2014		2013		2012
	Net income attributable to common stockholders:	$	24,396	$	13,766	$	186
	Divided by:
	Basic weighted average shares of common stock outstanding:		28,459,309		18,989,500		6,532,706
	Non-vested restricted stock		125,713		48,652		34,603
	Diluted weighted average shares of common stock outstanding:		28,585,022		19,038,152		6,567,309
	Basic earnings per common share:	$	0.86	$	0.72	$	0.03
	Diluted earnings per common share:	$	0.85	$	0.72	$	0.03
	The Company has considered the impact of the 2015 Convertible Notes and the restricted shares on diluted earnings per common share. The number of shares of common stock that the 2015 Convertible Notes are convertible into were not included in the computation of diluted net income per common share because the inclusion of those shares would have been anti-dilutive for the years ended December 31, 2014, 2013 and 2012.

INCOME_TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2014
INCOME TAX
INCOME TAX
	13.   INCOME TAX
	As discussed in Note 1 included in these consolidated financial statements, the Company established a TRS, TRS Holdings, in connection with the acquisition of ACRE Capital. In addition, in December 2013 and March 2014, the Company formed ACRC W TRS and ACRC U TRS, respectively, in order to issue and hold certain loans intended for sale. The TRS' income tax provision consisted of the following for the years ended December 31, 2014 and 2013 ($ in thousands):
		For the year
		ended
		December 31,
		2014			2013
	Current	$	329		$	115
	Deferred		(1,372	)		61
	Total income tax expense (benefit)	$	(1,043	)	$	176
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are presented net by tax jurisdiction and are included within other assets and other liabilities in the consolidated balance sheets, respectively. As of December 31, 2014 and 2013, the TRS' U.S. tax jurisdiction was in a net deferred tax liability position. The TRS' are not currently subject to tax in any foreign tax jurisdictions.
	As of December 31, 2014, TRS Holdings had a net operating loss carryforward of $4.0 million, which may be carried back to 2013 and forward 20 years. The following table presents the U.S. tax jurisdiction and the tax effects of temporary differences on the TRS' respective net deferred tax assets and liabilities ($ in thousands).
		As of December 31,
		2014			2013
	Deferred tax assets
	Mortgage servicing rights	$	2,844		$	749
	Net operating loss carryforward		1,465			—
	Other temporary differences		1,055			125
	Sub-total-deferred tax assets		5,364			874
	Deferred tax liabilities
	Basis difference in assets from acquisition of ACRE Capital		(2,654	)		(2,810	)
	Components of gains from mortgage banking activities		(4,046	)		(893	)
	Amortization of intangible assets		(170	)		(49	)
	Sub-total-deferred tax liabilities		(6,870	)		(3,752	)
	Net deferred tax liability	$	(1,506	)	$	(2,878	)
	Based on the TRS' assessment, it is more likely than not that the deferred tax assets will be realized through future taxable income. The TRS' recognize interest and penalties related to unrecognized tax benefits within income tax expense in the consolidated statements of operations. Accrued interest and penalties, if any, are included within other liabilities in the consolidated balance sheets.
	The following table is a reconciliation of the TRS' effective tax rate to the TRS' statutory U.S. federal income tax rate for the years ended December 31, 2014 and 2013:
		For the year ended
		December 31,
		2014			2013
	Federal statutory rate		35.0	%		35.0	%
	State income taxes		2.4	%		5.7	%
	Federal benefit of state tax deduction		(0.8	)%		(2.0	)%
	Effective tax rate		36.6	%		38.7	%
	As of December 31, 2014, tax years 2011 through 2014 remain subject to examination by taxing authorities. The Company does not have any unrecognized tax benefits and the Company does not expect that to change in the next twelve months.
	Intercompany Note
	In connection with the acquisition of ACRE Capital, the Company partially capitalized TRS Holdings with a $44.0 million note. In October 2014, the Company entered into a $8.0 million revolving promissory note with TRS Holdings (collectively, the two intercompany notes described above are referred to as, the "Notes"). As of December 31, 2014 and 2013, the outstanding principal balance of the Notes was $50.9 million and $44.0 million, respectively. The income statement effects of the Notes are eliminated in consolidation for financial reporting purposes, but the interest income and expense from the Notes will affect the taxable income of the Company and TRS Holdings.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS
	14.   FAIR VALUE OF FINANCIAL INSTRUMENTS
	The Company follows FASB ASC Topic 820-10, Fair Value Measurement ("ASC 820-10"), which expands the application of fair value accounting. ASC 820-10 defines fair value, establishes a framework for measuring fair value in accordance with GAAP and expands disclosure requirements for fair value measurements. ASC 820-10 determines fair value to be the price that would be received for a financial instrument in a current sale, which assumes an orderly transaction between market participants on the measurement date. The financial instruments recorded at fair value on a recurring basis in the Company's consolidated financial statements are derivative instruments, MSRs and loans held for sale. ASC 820-10 specifies a hierarchy of valuation techniques based on the inputs used in measuring fair value.
	In accordance with ASC 820-10, the inputs used to measure fair value are summarized in the three broad levels listed below:
	Level I—Quoted prices in active markets for identical assets or liabilities.
	Level II—Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.
	Level III—Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used.
	GAAP requires disclosure of fair value information about financial instruments, whether or not recognized in the financial statements, for which it is practical to estimate the value. In cases where quoted market prices are not available, fair values are based upon the application of discount rates to estimated future cash flows using market yields, or other valuation methodologies. Any changes to the valuation methodology will be reviewed by the Company's management to ensure the changes are appropriate. The methods used may produce a fair value calculation that is not indicative of net realizable value or reflective of future fair values. Furthermore, while the Company anticipates that the valuation methods are appropriate and consistent with other market participants, the use of different methodologies, or assumptions, to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The Company uses inputs that are current as of the measurement date, which may fall within periods of market dislocation, during which price transparency may be reduced.
	Financial Instruments Reported at Fair Value
	The Company has certain assets and liabilities that are required to be recorded at fair value on a recurring basis in accordance with GAAP. Financial instruments reported at fair value in the Company's consolidated financial statements include MSRs, right to acquire MSRs, loan commitments, forward sale commitments and loans held for sale.
	The following table summarizes the levels in the fair value hierarchy into which the Company's financial instruments were categorized as of December 31, 2014 and 2013 ($ in thousands):
			Fair Value as of December 31, 2014
			Level I			Level II			Level III			Total
	Loans held for sale		$	—		$	203,006		$	—		$	203,006
	Mortgage servicing rights			—			—			58,889			58,889
	Derivative assets:
	Loan commitments			—			—			3,082			3,082
	Forward sale commitments			—			—			116			116
	Derivative liabilities:
	Forward sale commitments			—			—			(1,528	)		(1,528	)
			Fair Value as of December 31, 2013
			Level I			Level II			Level III			Total
	Loans held for sale		$	—		$	89,233		$	—		$	89,233
	Mortgage servicing rights			—			—			59,640			59,640
	Derivative assets:
	Loan commitments			—			—			2,038			2,038
	Forward sale commitments			—			—			272			272
	Right to acquire MSRs									1,717			1,717
	Derivative liabilities:
	Forward sale commitments			—			—			(500	)		(500	)
	There were no transfers between the levels as of December 31, 2014 and 2013. Transfers between levels are recognized based on the fair value of the financial instrument at the beginning of the period.
	Loan commitments and forward sale commitments are valued based on a discounted cash flow model that incorporates changes in interest rates during the period. The MSRs and right to acquire MSRs are valued based on discounted cash flow models that calculate the present value of estimated future net servicing income. The model considers contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. The loans held for sale are valued based on discounted cash flow models that incorporate quoted observable prices from market participants. The valuation of derivative instruments are determined using widely accepted valuation techniques, including market yield analyses and discounted cash flow analysis on the expected cash flows of each derivative.
	The following table summarizes the significant unobservable inputs the Company used to value financial instruments categorized within Level III as of December 31, 2014 ($ in thousands):
								Unobservable Input
	Asset Category		Fair			Primary		Input		Range			Weighted
			Value			Valuation Technique							Average
	Mortgage servicing rights		$	58,889		Discounted cash flow		Discount rate			8 - 14	%		11.4	%
	Loan commitments and forward sale commitments			1,670		Discounted cash flow		Discount rate			8 - 8	%		8.0	%
	The following table summarizes the significant unobservable inputs the Company used to value financial instruments categorized within Level III as of December 31, 2013 ($ in thousands):
								Unobservable Input
	Asset Category		Fair			Primary		Input		Range			Weighted
			Value			Valuation Technique							Average
	Mortgage servicing rights		$	59,640		Discounted cash flow		Discount rate			8 - 14	%		12.0	%
	Loan commitments and forward sale commitments			1,810		Discounted cash flow		Discount rate			8 - 12	%		8.0	%
	Right to acquire MSRs			1,717		Discounted cash flow		Discount rate			8 - 8	%		8.0	%
	The table above is not intended to be all-inclusive, but instead is intended to capture the significant unobservable inputs relevant to the Company's determination of fair values. Changes in market yields, discount rates or EBITDA multiples, each in isolation, may have changed the fair value of the financial instruments. Generally, an increase in market yields or discount rates or decrease in EBITDA multiples may have resulted in a decrease in the fair value of the financial instruments.
	The Company's management is responsible for the Company's fair value valuation policies, processes and procedures related to Level III financial instruments. The Company's management reports to the Company's Chief Financial Officer, who has final authority over the valuation of the Company's Level III financial instruments.
	The following table summarizes the change in derivative assets and liabilities classified as Level III related to mortgage banking activities for the years ended December 31, 2014 and 2013 ($ in thousands):
	Derivative assets and liabilities acquired in the ACRE Capital acquisition, net (See Note 18)		$	182
	Settlements			(2,098	)
	Realized gains (losses) recorded in net income(1)			1,916
	Unrealized gains (losses) recorded in net income(1)			3,527
	Balance at December 31, 2013		$	3,527
	Settlements			(8,893	)
	Realized gains (losses) recorded in net income(1)			5,366
	Unrealized gains (losses) recorded in net income(1)			1,670
	Balance at December 31, 2014		$	1,670
	-1	Realized and unrealized gains (losses) from derivatives are included within gains from mortgage banking activities in the consolidated statements of operations.
	The following table summarizes the change in the embedded conversion option classified as Level III for the year ended December 31, 2013 ($ in thousands):
			As of and for the year ended
			December 31, 2013
	Beginning balance, as of December 31, 2012		$	(1,825	)
	Unrealized gain on the embedded conversion option (1)			1,739
	Reclassification of additional paid-in capital			86
Ending balance, as of December 31, 2013		$	—
-1	The unrealized gain on the embedded conversion option is included within changes in fair value of derivatives in the consolidated statements of operations for the year ended December 31, 2013. The Company reclassified certain prior quarter and prior year amounts included within interest expense related to the fair value of the derivative to conform to the Company's presentation for the year ended December 31, 2013.
See Note 4 included in these consolidated financial statements for the changes in MSRs that are classified as Level III.
As of December 31, 2014 and 2013, the carrying values and fair values of the Company's financial assets and liabilities recorded at cost are as follows ($ in thousands):
					As of December 31,
					2014						2013
		Level in			Carrying			Fair			Carrying			Fair
		Fair Value			Value			Value			Value			Value
		Hierarchy
Financial assets:
Loans held for investment			3		$	1,462,584		$	1,472,891		$	958,495		$	965,436
Financial liabilities:
Secured funding agreements			2		$	552,799		$	552,799		$	264,419		$	264,419
Warehouse lines of credit			2			193,165			193,165			—			—
Convertible notes			2			68,395			69,000			67,815			69,000
Commercial mortgage-backed securitization debt (consolidated VIE)			3			219,043			219,043			395,027			395,027
Collateralized loan obligation securitization debt (consolidated VIE)			3			308,703			308,703			—			—
The carrying values of cash and cash equivalents, restricted cash, interest receivable and accrued expenses approximate their fair values due to their short-term nature.
Loans held for investment are recorded at cost, net of unamortized loan fees and origination costs and net of an allowance for loan losses. The Company may record fair value adjustments on a nonrecurring basis when it has determined that it is necessary to record a specific reserve against a loan and the Company measures such specific reserve using the fair value of the loan's collateral. To determine the fair value of the collateral, the Company may employ different approaches depending on the type of collateral. The Financing Facilities, CMBS debt, convertible notes and collateralized loan obligation ("CLO") debt are recorded at outstanding principal, which is the Company's best estimate of the fair value.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
	15.   RELATED PARTY TRANSACTIONS
	Management Agreement
	The Company was party to an interim management agreement with ACREM prior to the IPO. Pursuant to the interim management agreement, ACREM provided investment advisory and management services to the Company on an interim basis until the IPO. For providing these services, ACREM received only reimbursements from the Company for any third party costs that ACREM incurred on behalf of the Company.
	On April 25, 2012, in connection with the Company's IPO, the Company entered into the Management Agreement under which ACREM, subject to the supervision and oversight of the Company's board of directors, will be responsible for, among other duties, (a) performing all of the Company's day-to-day functions, (b) determining the Company's investment strategy and guidelines in conjunction with the Company's board of directors, (c) sourcing, analyzing and executing investments, asset sales and financing, and (d) performing portfolio management duties. In addition, ACREM has an Investment Committee that oversees compliance with the Company's investment strategy and guidelines, investment portfolio holdings and financing strategy.
	Effective May 1, 2012, in exchange for its services, ACREM is entitled to receive a base management fee, an incentive fee, expense reimbursements, grants of equity-based awards pursuant to the Company's 2012 Equity Incentive Plan and a termination fee, if applicable.
	The base management fee is equal to 1.5% of the Company's stockholders' equity per annum, which is calculated and payable quarterly in arrears in cash. For purposes of calculating the base management fee, stockholders' equity means: (a) the sum of (i) the net proceeds from all issuances of the Company's equity securities since inception (allocated on a pro rata daily basis for such issuances during the fiscal quarter of any such issuance), plus (ii) the Company's retained earnings at the end of the most recently completed fiscal quarter determined in accordance with GAAP (without taking into account any non-cash equity compensation expense incurred in current or prior periods); less (b) (x) any amount that the Company has paid to repurchase the Company's common stock since inception, (y) any unrealized gains and losses and other non-cash items that have impacted stockholders' equity as reported in the Company's consolidated financial statements prepared in accordance with GAAP, and (z) one-time events pursuant to changes in GAAP, and certain non-cash items not otherwise described above, in each case after discussions between ACREM and the Company's independent directors and approval by a majority of the Company's independent directors. As a result, the Company's stockholders' equity, for purposes of calculating the management fee, could be greater or less than the amount of stockholders' equity shown on the Company's consolidated financial statements.
	The incentive fee is an amount, not less than zero, equal to the difference between: (a) the product of (i) 20% and (ii) the difference between (A) the Company's Core Earnings (as defined below) for the previous 12-month period, and (B) the product of (1) the weighted average of the issue price per share of the Company's common stock of all of the Company's public offerings of common stock multiplied by the weighted average number of all shares of common stock outstanding (including any restricted shares of the Company's common stock, restricted stock units or any shares of the Company's common stock not yet issued, but underlying other awards granted under the Company's 2012 Equity Incentive Plan (See Note 11 included in these consolidated financial statements) in the previous 12-month period, and (2) 8%; and (b) the sum of any incentive fees earned by ACREM with respect to the first three fiscal quarters of such previous 12-month period; provided,  however, that no incentive fee is payable with respect to any fiscal quarter unless cumulative Core Earnings for the 12 most recently completed fiscal quarters is greater than zero. "Core Earnings" is a non-GAAP measure and is defined as GAAP net income (loss) computed in accordance with GAAP, excluding non-cash equity compensation expense, the incentive fee, depreciation and amortization (to the extent that any of the Company's target investments are structured as debt and the Company forecloses on any properties underlying such debt), any unrealized gains, losses or other non-cash items recorded in net income (loss) for the period, regardless of whether such items are included in other comprehensive income or loss, or in net income (loss), and one-time events pursuant to changes in GAAP and certain non-cash charges after discussions between ACREM and the Company's independent directors and after approval by a majority of the Company's independent directors. No incentive fees were earned for the years ended December 31, 2014, 2013 and 2012.
	The Company reimburses ACREM at cost for operating expenses that ACREM incurs on the Company's behalf, including expenses relating to legal, financial, accounting, servicing, due diligence and other services. The Company's reimbursement obligation is not subject to any dollar limitation other than as noted below with respect to the Servicing Limitation and the Restricted Cost Amendment (as defined below).
	The Company will not reimburse ACREM for the salaries and other compensation of its personnel, except for the allocable share of the salaries and other compensation of the Company's (a) Chief Financial Officer, based on the percentage of his time spent on the Company's affairs and (b) other corporate finance, tax, accounting, internal audit, legal, risk management, operations, compliance and other non-investment professional personnel of ACREM or its affiliates who spend all or a portion of their time managing the Company's affairs based on the percentage of their time spent on the Company's affairs (collectively, "Personnel Expenses"). The Company is also required to pay its pro rata portion of rent, telephone, utilities, office furniture, equipment, machinery and other office, internal and overhead expenses of ACREM and its affiliates that are required for the Company's operations (collectively, "Overhead Expenses"). The initial term of the Management Agreement will end May 1, 2015, with automatic one-year renewal terms. Except under limited circumstances, upon a termination of the Management Agreement, the Company will pay ACREM a termination fee equal to three times the average annual base management fee and incentive fee received by ACREM during the 24-month period immediately preceding the most recently completed fiscal quarter prior to the date of termination, each as described above.
	Certain of the Company's subsidiaries, along with the Company's lenders under the Wells Fargo Facility, the Citibank Facilities, the MetLife Facility and the April 2014 UBS Facility, as well as under the CMBS and CLO have entered into various servicing agreements with ACREM's subsidiary servicer, Ares Commercial Real Estate Servicer LLC ("ACRES"), a Standard & Poor's-rated commercial primary and special servicer that is included on Standard & Poor's Select Servicer List. Effective May 1, 2012, ACRES agreed that no servicing fees pursuant to these servicing agreements would be charged to the Company or its subsidiaries for so long as the Management Agreement remains in effect, but that ACRES will continue to receive reimbursement for overhead related to servicing and operational activities pursuant to the terms of the Management Agreement (the "Servicing Limitation").
	Effective as of September 30, 2013, the Company and ACREM entered into an amendment to the Management Agreement (the "Restricted Cost Amendment") whereby ACREM agreed not to seek reimbursement of Restricted Costs (as defined below), in excess of $1.0 million per quarter for the quarterly periods that ended on September 30, 2013, December 31, 2013, March 31, 2014 and June 30, 2014. Effective as of September 30, 2014, the Company and ACREM extended the Restricted Cost Amendment such that ACREM has agreed not to seek reimbursement of Restricted Costs in excess of $1.0 million per quarter for the quarterly period ended September 30, 2014 and December 31, 2014. "Restricted Costs" are Personnel Expenses and Overhead Expenses incurred in the ordinary course of the Company's origination business and do not include any Personnel Expenses or Overhead Expenses that were incurred in connection with transactions outside our ordinary course of business, including without limitation, transactions for the acquisition of a portfolio of investments or for the acquisition of another company or its assets and business.
	Summarized below are the related party costs incurred by the Company, including ACRE Capital, for the years ended December 31, 2014, 2013 and 2012 and amounts payable to the Company's Manager as of December 31, 2014 and 2013 ($ in thousands):
		Incurred						Payable
		For the year ended						As of
		December 31,						December 31,
	$ in thousands	2014		2013		2012		2014		2013
	Affiliate Payments
	Management fees	$	5,916	$	4,241	$	1,665	$	1,471	$	1,497
	General and administrative expenses		4,000		3,610		1,602		1,000		1,000
	Direct costs		861		769		643		264		299
	Other		—		—		17		—		—
		$	10,777	$	8,620	$	3,927	$	2,735	$	2,796
	Ares Investments
	As of December 31, 2014 and 2013, Ares Investments Holdings LLC ("Ares Investments"), a wholly owned subsidiary of Ares Management, owned $1.2 million aggregate principal amount of the 2015 Convertible Notes.
	Credit Support Fee Agreement
	On July 30, 2014, the Company and certain of its subsidiaries entered into a Credit Support Fee Agreement with Ares under which the Company agreed to pay Ares a credit support fee in an amount equal to 1.50% per annum times the average amount of the loans outstanding under the July 2014 CNB Facility and to reimburse Ares for its out-of-pocket costs and expenses in connection with the transaction. During the year ended December 31, 2014, the Company incurred a credit support fee of $278 thousand under the July 2014 CNB Facility which is included within interest expense in the Company's consolidated statements of operations. In connection with the Credit Support Fee Agreement on July 30, 2014, the Company entered into a Pledge Agreement pursuant to which the Company pledged to Ares its ownership interests in its wholly owned direct subsidiary, ACRC Holdings LLC, the holding entity for the Company's principal lending business. See Note 6 included in these consolidated financial statements for more information on the July 2014 CNB Facility.

DIVIDENDS_AND_DISTRIBUTIONS

DIVIDENDS AND DISTRIBUTIONS	12 Months Ended
	Dec. 31, 2014
DIVIDENDS AND DISTRIBUTIONS
DIVIDENDS AND DISTRIBUTIONS
	16.   DIVIDENDS AND DISTRIBUTIONS
	The following table summarizes the Company's dividends declared during the years ended December 31, 2014 and 2013 ($ in thousands, except per share data):
	Date declared	Record date		Payment date		Per share		Total amount
						amount
	November 10, 2014		December 31, 2014		January 15, 2015	$	0.25	$	7,147
	August 6, 2014		September 30, 2014		October 15, 2014		0.25		7,151
	May 7, 2014		June 30, 2014		July 16, 2014		0.25		7,151
	March 17, 2014		March 31, 2014		April 16, 2014		0.25		7,147
	Total cash dividends declared for the year ended December 31, 2014					$	1.00	$	28,596
	November 13, 2013		December 31, 2013		January 22, 2014	$	0.25	$	7,127
	August 7, 2013		September 30, 2013		October 17, 2013		0.25		7,119
	May 15, 2013		June 28, 2013		July 18, 2013		0.25		6,822
	March 14, 2013		April 08, 2013		April 18, 2013		0.25		2,317
	Total cash dividends declared for the year ended December 31, 2013					$	1.00	$	23,385

VARIABLE_INTEREST_ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2014
VARIABLE INTEREST ENTITIES
VARIABLE INTEREST ENTITIES
	17.   VARIABLE INTEREST ENTITIES
	Consolidated VIEs
	As discussed in Note 2, the Company evaluates all of its investments and other interests in entities for consolidation, including its investments in: (a) the CMBS transaction and the Company's retained interests in the subordinated classes of the Certificates (as defined below) issued by the Trust (as defined below), (b) the CLO transaction and the Company's retained interests in the subordinated notes and preferred equity of the Issuer (as defined below) and (c) a preferred equity investment in an LLC entity (discussed below), all of which are generally considered to be variable interests in a VIE.
	CMBS Securitization
	On November 19, 2013, ACRC 2013-FL1 Depositor LLC (the "Depositor"), a wholly owned subsidiary of the Company, entered into a Pooling and Servicing Agreement, dated as of November 1, 2013, which was amended on March 28, 2014, (the "Pooling and Servicing Agreement"), with Wells Fargo Bank, National Association, as master servicer ("Wells Fargo"), Ares Commercial Real Estate Servicer LLC ("Ares Servicer"), U.S. Bank National Association, as trustee, certificate administrator, paying agent and custodian, and Trimont Real Estate Advisors, Inc., as trust advisor, in connection with forming ACRE Commercial Mortgage Trust 2013-FL1 (the "Trust"). The Pooling and Servicing Agreement governs the issuance of approximately $493.8 million aggregate principal balance commercial mortgage pass-through certificates (the "Certificates") in a CMBS effected by the Depositor. The Trust is treated for U.S. federal income tax purposes as a real estate mortgage investment conduit.
	In connection with the securitization, the Depositor contributed to the Trust a pool of 18 adjustable rate participation interests (the "Trust Assets") in commercial mortgage loans secured by 27 commercial properties, which loans were originated or co-originated by the Company or its subsidiaries. The Certificates represent, in the aggregate, the entire beneficial ownership interest in, and the obligations of, the Trust. The senior portions of the CMBS are rated securities issued by the Trust; the Trust's subordinated, non-rated securities, are held by the Company who acts as the Trust's directing holder.
	In connection with the securitization, the Company offered and sold the following classes of certificates: Class A, Class B, Class C and Class D Certificates (collectively, the "Offered Certificates") to third parties pursuant to an offering made privately in transactions exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). As of December 31, 2014 and 2013, the aggregate principal balance of the Offered Certificates was approximately $219.0 million and $395.0 million, respectively, and the weighted average coupon of the Offered Certificates was LIBOR plus 2.41% and 1.89%, respectively. In addition, a wholly owned subsidiary of the Company retained approximately $98.8 million of the Certificates. The Company, as the holder of the subordinated classes of the Trust, has the obligation to absorb losses of the Trust, since the Company has a first loss position in the capital structure of the Trust.
	CLO Securitization
	On August 15, 2014, ACRE Commercial Mortgage 2014-FL2 Ltd. (the "Issuer") and ACRE Commercial Mortgage 2014-FL2 LLC (the "Co-Issuer"), both wholly owned indirect subsidiaries of the Company, entered into an indenture (the "Indenture") with Wells Fargo, as advancing agent and note administrator and Wilmington Trust, National Association as trustee, which governs the issuance of approximately $346.1 million principal balance secured floating rate notes (the "Notes") and $32.7 million of preferred equity in the Issuer. For U.S. federal income tax purposes, the CLO Issuer and Co-Issuer are disregarded entities.
	The Notes are collateralized by interests in a pool of 15 mortgage assets having a total principal balance of up to $378.8 million (the "Mortgage Assets") originated by a subsidiary of the Company. The sale of the Mortgage Assets to the Issuer is governed by a Mortgage Asset Purchase Agreement (the "Mortgage Asset Purchase Agreement") dated as of August 15, 2014, between ACRC Lender LLC and the Issuer. In connection with the securitization, the Issuer and Co-Issuer offered and sold the following classes of Notes: Class A, Class A-S, Class B, Class C and Class D Notes (collectively, the "Offered Notes") to third parties. A wholly owned subsidiary of the Company retained approximately $37.4 million of the most subordinate Notes and all of the preferred equity in the Issuer. The Company, as the holder of the subordinated Notes and all of the preferred equity in the Issuer, has the obligation to absorb losses of the CLO, since the Company has a first loss position in the capital structure of the CLO. As of December 31, 2014, the aggregate principal balance of the Offered Notes was approximately $308.7 million and the weighted average coupon of the Offered Notes was LIBOR plus 1.45%.
	Summary of CMBS and CLO Securitizations
	As the directing holder of the CMBS and the CLO, the Company has the ability to direct activities that could significantly impact the Trust's and Issuer's economic performance. However, in those instances where an unrelated third party has the right to unilaterally remove the special servicer, the Company does not have the power to direct activities that most significantly impact the Trust's and Issuer's economic performance. In addition, there are no substantive kick-out rights of any party to remove the special servicer without cause; however, the Company's subsidiaries, as directing holders, have the ability to remove the special servicer without cause. Based on these factors, the Company is determined to be the primary beneficiary of these VIEs; thus, the VIEs are consolidated into the Company's financial statements.
	Ares Servicer, a subsidiary of ACREM, is designated as the primary and special servicer of the CMBS and the CLO. Ares Servicer has the power to direct activities of the Trust and Issuer/Co-Issuer during the loan workout process on defaulted and delinquent loans, which is the activity that most significantly impacts the economic performance of the Trust and Issuer/Co-Issuer. Ares Servicer waives the servicing and special servicing fees and the Company pays its overhead costs, as with other servicing agreements. See Note 22 included in these consolidated financial statements for information on a subsequent event relating to the primary servicer.
	The VIEs consolidated in accordance with FASB ASC Topic 810 are structured as pass through entities that receive principal and interest on the underlying collateral and distribute those payments to the Certificate and Note holders, as applicable. The assets and other instruments held by these securitization entities are restricted and can only be used to fulfill the obligations of the entities. Additionally, the obligations of the securitization entities do not have any recourse to the general credit of any other consolidated entities, nor to the Company as the primary beneficiary.
	The inclusion of the assets and liabilities of VIEs of which the Company is deemed the primary beneficiary has no economic effect on the Company. The Company's exposure to the obligations of VIEs is generally limited to its investment in these entities. The Company is not obligated to provide, nor has it provided, any financial support for any of these consolidated structures. As such, the risk associated with the Company's involvement in these VIEs is limited to the carrying value of its investment in the entity. As of December 31, 2014 and 2013, the Company's maximum risk of loss was $168.8 million and $98.8 million, respectively. For the years ended December 31, 2014 and 2013, the Company incurred interest expense related to the CMBS and CLO securitizations of $9.1 million and $972 thousand, respectively, and is included within interest expense in the Company's consolidated statements of operations.
	Investment in VIE
	On December 19, 2014, the Company and third party institutional investors formed a limited liability company, ACRC KA, which acquired $170.0 million of preferred equity in a REIT whose assets are comprised of a portfolio of 22 multifamily, student housing, medical office and self-storage properties managed by its sponsor. The Company's investment in ACRC KA is considered to be an investment in a VIE. As of December 31, 2014, the Company owns a controlling financial interest of 54.3% of the equity shares in the VIE and the third party institutional investors own the remaining 45.7%, a minority financial interest. The preferred equity shares are entitled to a preferred monthly return over the term of the investment at a fixed rate of 10.95% per annum.
	ACREM is the non-member manager of the VIE. Based on the terms of the ACRC KA LLC agreement, ACREM has the ability to direct activities that could significantly impact the VIE's economic performance. There are no substantive kick-out rights held by the third party institutional investors to remove ACREM as the non-member manager without cause. As ACREM serves as the manager of the Company, the Company has the right to receive benefits from the VIE that could potentially be significant. As such, the Company is deemed to be the primary beneficiary of the VIE and the party that is most closely associated with the VIE. Thus, the VIE is consolidated into the Company's financial statements and the preferred equity interests owned by the third party institutional investors are reflected as a non-controlling interest held by third parties within the Company's consolidated balance sheets.
	As of December 31, 2014, the carrying value of the preferred equity investment, which is net of unamortized fees and origination costs, was $168.4 million and is included within loans held for investment in the consolidated balance sheets. The risk associated solely with respect to the Company's investment in the VIE is limited to the outstanding principal of its investment in the entity. As of December 31, 2014, the Company's maximum risk of loss solely with respect to this investment was $92.4 million. See Note 22 included in these consolidated financial statements for information on a subsequent event regarding a transfer of a portion of the Company's investment in ACRC KA to third party institutional investors.
	Unconsolidated VIEs
	The Company also holds variable interests in VIEs structured as preferred equity investments, where the Company does not have a controlling financial interest. For these structures, the Company is not deemed to be the primary beneficiary of the VIE, and the Company does not consolidate these VIEs. These preferred equity investments are accounted for as loans held for investment and are carried at cost, net of unamortized loan fees and origination costs, unless the loans are deemed impaired, and are included in loans held for investment in the Company's consolidated balance sheets.
	The Company is not obligated to provide, nor have we provided, any financial support for any of the Company's unconsolidated VIEs. As such, the risks associated with the Company's involvement in these VIEs are limited to the outstanding principal of the Company's investment in the entity.
	The following table presents the carrying value and the maximum exposure of unconsolidated VIEs as of December 31, 2014 and 2013 ($ in thousands):
		As of December 31,
		2014		2013
	Carrying value	$	38,982	$	4,804
	Maximum exposure to loss	$	39,608	$	4,850

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2014
ACQUISITIONS
ACQUISITIONS
	18.   ACQUISITIONS
	Asset Acquisition
	On August 25, 2014, ACRE Capital entered into a MSR purchase agreement (the "Purchase Agreement") with a third party which has been accounted for as an asset acquisition under FASB ASC Topic 805, Business Combinations ("ASC 805"). Under the Purchase Agreement, ACRE Capital agreed to purchase the rights to service a portfolio of 46 Freddie Mac multifamily mortgage loans with a total unpaid principal balance of approximately $370.6 million.
	The aggregate purchase price was approximately $2.2 million, which also included a premium for the Freddie Mac Program Plus® Seller/Servicer license that ACRE Capital was issued by Freddie Mac in connection with the acquisition of the Freddie Mac MSR portfolio. ACRE Capital initially recorded the acquired MSRs at fair value in the amount of $1.3 million and will subsequently account for these MSRs at fair value consistent with the MSR policy in Note 2. The remaining purchase price of $941 thousand was allocated to the Freddie Mac Program Plus® Seller/Servicer license, an indefinite-lived intangible asset. See Note 5 included in these consolidated financial statements for additional information on this license.
	On September 16, 2014, ACRE Capital completed the acquisition of the servicing portfolio and legal ownership of the MSRs was transferred to ACRE Capital.
	Business Combination
	On August 30, 2013, (the "Acquisition Date"), the Company completed its acquisition of all of the outstanding common units of ACRE Capital from the Sellers. For accounting purposes, the acquisition was deemed to be effective on the close of business September 1, 2013, or the "Accounting Effective Date." Pursuant to the Purchase and Sale Agreement, dated as of May 14, 2013, by and among the Company and the Sellers, the Company paid approximately $53.4 million in cash, subject to adjustment, and issued 588,235 shares of its common stock in a private placement exempt from registration under Section 4(2) of the Securities Act resulting in total consideration paid of approximately $60.9 million. The transaction was accounted for as a business combination under ASC 805.
	Through ACRE Capital, the Company operates its mortgage banking business. ACRE Capital primarily originates, sells and services multifamily and other senior-living related loans under programs offered by Fannie Mae, Freddie Mac and HUD (including Ginnie Mae).
	The Company provisionally allocated the purchase price to the assets acquired and liabilities assumed based on their estimated Accounting Effective Date fair values. A change to the provisional amounts recorded for assets acquired and liabilities assumed during the measurement period affects the amount of the purchase price allocated to gain on acquisition. Such changes to the purchase price allocation during the measurement period are recorded as retrospective adjustments to the consolidated financial statements. During the measurement period, the Company identified adjustments to certain of the provisional amounts recorded that had the net effect of decreasing gain on acquisition by $747 thousand. The measurement period ended September 30, 2014.
	The following table summarizes the purchase price allocation recorded as of the Acquisition Date, including retrospective adjustments during the measurement period ($ in thousands):
	Assets acquired:
	Cash		$	1,157
	Restricted cash			15,586
	Loans held for sale			22,154
	Mortgage servicing rights			61,236
	Intangible assets			5,000
	Derivative assets			182
	Risk-sharing indemnification			3,703
	Other assets			4,748
	Total assets acquired		$	113,766
	Liabilities assumed:
	Warehouse lines of credit		$	14,472
	Allowance for loss sharing			18,386
	Accounts payable and accrued expenses			4,748
	Other liabilities(1)			10,795
	Total liabilities assumed		$	48,401
	Net Assets Acquired		$	65,365
	-1	Other liabilities include a $6 million payable incurred in connection with the close of the transaction.
	The measurement period adjustments included in the purchase price allocation above were recorded based on information obtained subsequent to the Acquisition Date that related to information that existed as of the Acquisition Date.
	The Sellers provided the Company with a minimum working capital balance prior to the Accounting Effective Date. To the extent actual working capital exceeded or fell below the minimum requirement, the Company would either pay or receive funds from the Sellers. There have been no adjustments to the gain on acquisition during the year ended December 31, 2014. The gain on acquisition was $4.4 million.

SEGMENTS

SEGMENTS	12 Months Ended
	Dec. 31, 2014
SEGMENTS
SEGMENTS
	19.   SEGMENTS
	The Company's reportable segments reflect the significant components of the Company's operations that are evaluated separately by the Company's chief operating decision maker, the Company's Chief Executive Officer, and have discrete financial information available. The Company organizes its segments based primarily upon the nature of the underlying products and services. The Company's Chief Executive Officer and management review certain financial information, including segmented internal profit and loss statements, which are presented below on that basis. The amounts in the reportable segments included in the tables below are in conformity with GAAP and the Company's significant accounting policies as described in Note 2 included in these consolidated financial statements.
	The Company operates in two reportable business segments:
	•	principal lending—includes all business activities of the Company, excluding the ACRE Capital business, which generally represents investments in real estate related loans and securities that are held for investment.
	•	mortgage banking—includes all business activities of the acquired ACRE Capital business.
	The Company is primarily focused on two business segments involving CRE loans. First, in its principal lending business, the Company originates, invests in, manages and services middle-market CRE loans and other CRE-related investments for its own account. These loans are generally held for investment and are secured, directly or indirectly, by office, multifamily, retail, industrial and other commercial real estate properties, or by ownership interests therein. Second, in its mortgage banking business, conducted through a subsidiary acquired in August 2013, ACRE Capital, the Company originates, sells and retains servicing of primarily multifamily and other senior-living related CRE loans. These loans are generally held for sale.
	Allocated costs between the segments include management fees and general and administrative expenses payable to the Company's Manager, both of which represent shared costs. Each allocation is measured differently based on the specific facts and circumstances of the costs being allocated. As the Company integrates ACRE Capital into its existing business, the Company expects future allocations to include costs relating to services performed by one segment on behalf of other segments.
	The table below presents the Company's total assets as of December 31, 2014 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Cash and cash equivalents		$	15,045		$	1,506		$	16,551
	Restricted cash			49,679			16,442			66,121
	Loans held for investment			1,462,584			—			1,462,584
	Loans held for sale, at fair value			—			203,006			203,006
	Mortgage servicing rights, at fair value			—			58,889			58,889
	Other assets			45,457			15,045			60,502
	Total Assets		$	1,572,765		$	294,888		$	1,867,653
	The table below presents the Company's total assets as of December 31, 2013 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Cash and cash equivalents		$	14,444		$	5,656		$	20,100
	Restricted cash			3,036			13,918			16,954
	Loans held for investment			958,495			—			958,495
	Loans held for sale, at fair value			84,769			4,464			89,233
	Mortgage servicing rights, at fair value			—			59,640			59,640
	Other assets			16,632			15,861			32,493
	Total Assets		$	1,077,376		$	99,539		$	1,176,915
	The table below presents the Company's consolidated net income for the year ended December 31, 2014 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Net interest margin:
	Interest income from loans held for investment		$	70,495		$	—		$	70,495
	Interest expense			(33,637	)		—	-2		(33,637	)
	Net interest margin			36,858	-1		—			36,858
	Mortgage banking revenue:
	Servicing fees, net			—			16,399			16,399
	Gains from mortgage banking activities			—			17,492			17,492
	Provision for loss sharing			—			1,364			1,364
	Change in fair value of mortgage servicing rights			—			(7,650	)		(7,650	)
	Mortgage banking revenue			—			27,605			27,605
	Gain on sale of loans			680			—			680
	Total revenue			37,538			27,605			65,143
	Expenses:
	Management fees to affiliate			5,440			476			5,916
	Professional fees			2,686			1,047			3,733
	Compensation and benefits			—			18,649			18,649
	Acquisition and investment pursuit costs			20			—			20
	General and administrative expenses			3,003			6,249			9,252
	General and administrative expenses reimbursed to affiliate			3,400			600			4,000
	Total expenses			14,549			27,021			41,570
	Income from operations before income taxes			22,989			584			23,573
	Income tax expense (benefit)			240			(1,283	)		(1,043	)
	Net income attributable to ACRE			22,749			1,867			24,616
	Net income attributable to non-controlling interests			(220	)		—			(220	)
	Net income attributable to common stockholders		$	22,529		$	1,867		$	24,396
	-1	Revenues from one of the Company's borrowers in the principal lending segment represented approximately 15.8% of the Company's consolidated revenues for the year ended December 31, 2014.
	-2	Interest expense does not include interest expense related to the intercompany note between the two business segments presented, mortgage banking (conducted through ACRE Capital Holdings LLC) as borrower and principal lending (conducted through the Company) as lender, as described in Note 13. Interest expense related to the intercompany note is eliminated in the consolidated financial statements of the Company. If interest expense related to the intercompany note were included, interest expense and net loss for the year ended December 31, 2014 would have been $3.7 million and $1.8 million, respectively, for mortgage banking.
	The table below presents the Company's consolidated net income for the year ended December 31, 2013 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Net interest margin:
	Interest income from loans held for investment		$	37,600		$	—		$	37,600
	Interest expense			(14,973	)		—	-2		(14,973	)
Net interest margin			22,627	-1		—			22,627
Mortgage banking revenue:
Servicing fees, net			—			5,754			5,754
Gains from mortgage banking activities			—			5,019			5,019
Provision for loss sharing			—			(6	)		(6	)
Change in fair value of mortgage servicing rights			—			(2,697	)		(2,697	)
Mortgage banking revenue			—			8,070			8,070
Gain on sale of loans			—			1,333			1,333
Total revenue			22,627			9,403			32,030
Expenses:
Management fees to affiliate			4,125			116			4,241
Professional fees			2,447			477			2,924
Compensation and benefits			—			5,456			5,456
Acquisition and investment pursuit costs			4,079			—			4,079
General and administrative expenses			2,430			1,525			3,955
General and administrative expenses reimbursed to affiliate			3,394			216			3,610
Total expenses			16,475			7,790			24,265
Changes in fair value of derivatives			1,739			—			1,739
Income from operations before gain on acquisition and income taxes			7,891			1,613			9,504
Gain on acquisition			4,438			—			4,438
Income from operations before income taxes			12,329			1,613			13,942
Income tax expense (benefit)			—			176			176
Net income attributable to common stockholders		$	12,329		$	1,437		$	13,766
-1	Revenues from one of the Company's borrowers in the principal lending segment represented approximately 13.0% of the Company's consolidated revenues for the year ended December 31, 2013.
-2	Interest expense does not include interest expense related to the intercompany note between the two business segments presented, mortgage banking (conducted through ACRE Capital Holdings LLC) as borrower and principal lending (conducted through the Company) as lender, as described in Note 13. Interest expense related to the intercompany note is eliminated in the consolidated financial statements of the Company. If interest expense related to the intercompany note were included, interest expense and net income for the year ended December 31, 2013 would have been $1.2 million and $244 thousand, respectively, for mortgage banking.

QUARTERLY_FINANCIAL_DATA

QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2014
QUARTERLY FINANCIAL DATA
QUARTERLY FINANCIAL DATA
	20.   QUARTERLY FINANCIAL DATA (UNAUDITED)
	The following table summarizes the Company's quarterly financial results for each quarter of the years ended December 31, 2014 and 2013 (amounts in thousands, except per share data):
			For the three month period ended,
			March 31		June 30		September 30			December 31
	2014:00:00
	Total revenue(1)		$	13,758	$	17,413	$	13,180		$	20,792
	Net income		$	4,755	$	6,638	$	4,102		$	9,121
	Net income attributable to common stockholders		$	4,755	$	6,638	$	4,102		$	8,901
	Net income per common share-Basic		$	0.17	$	0.23	$	0.14		$	0.31
	Net income per common share-Diluted		$	0.17	$	0.23	$	0.14		$	0.31
	2013:00:00
	Total revenue(1)		$	3,774	$	4,708	$	10,915		$	12,633
	Net income		$	327	$	3,265	$	6,884	-2	$	3,290
	Net income attributable to common stockholders		$	327	$	3,265	$	6,884	-2	$	3,290
	Net income per common share-Basic		$	0.04	$	0.32	$	0.25	-2	$	0.12
	Net income per common share-Diluted		$	0.04	$	0.32	$	0.25	-2	$	0.12
	-1	As of December 31, 2014, the Company no longer presents other interest expense in its consolidated statements of operations. Total revenue has been adjusted from the previously filed Forms 10-Q as of March 31, June 30 and September 30, 2014 and 2013, respectively, and the previously filed Form 10-K as of December 31, 2013 to reflect the reclassification of other interest expense. Other interest expense related to the 2015 Convertible Notes has been reclassified into interest expense, other interest expense related to the Warehouse Lines of Credit has been reclassified into gains from mortgage banking activities and other interest expense related to escrow accounts has been reclassified into servicing fees, net in the consolidated statements of operations. The impact of these reclasses is a decrease in total revenue by $1.7 million, $1.8 million and $1.9 million, respectively, for the three month periods ending March 31, June 30 and September 30, 2014, respectively. The impact of these reclasses is a decrease in total revenue by $1.6 million, $1.5 million, $1.6 million and $1.9 million, respectively, for the three month periods ending March 31, June 30, September 30 and December 31, 2013, respectively. Additionally, total revenue has been adjusted from the previously filed Form 10-Q as of September 30, 2013 to reflect a $516 thousand reclass between gains from mortgage banking activities and compensation and benefits.
	-2	Net income and net income per common share have been adjusted from the previously filed Form 10-Q as of September 30, 2013 to reflect adjustments made during the measurement period to provisional amounts recognized at the Acquisition Date.

COSTS_ASSOCIATED_WITH_RESTRUCT

COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES	12 Months Ended
	Dec. 31, 2014
COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES
COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES
	21.   COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES
	During the three months ended March 31, 2014, the Company began restructuring and relocating certain ACRE Capital support services in order to centralize the ACRE Capital platform into one location, including the asset management team and leadership. For the year ended December 31, 2014, the Company has incurred restructuring costs in the mortgage banking segment of $799 thousand. As of December 31, 2014, the Company expects to incur an additional $44 thousand in restructuring costs in the mortgage banking segment.
	The table below presents a reconciliation of the liability attributable to restructuring costs incurred in the mortgage banking segment as of December 31, 2014 ($ in thousands):
		Employee Termination Costs
	Beginning balance, as of January 1, 2014	$	—
	Accruals		799
	Payments		(574	)
	Ending balance, as of December 31, 2014	$	225
	The employee termination costs above are associated with employee severance compensation, retention bonuses and guaranteed bonuses to certain key employees, insurance and outplacement. The costs incurred above are included within general and administrative expenses in the Company's consolidated statements of operations. As of December 31, 2014, the restructuring is complete and all costs have been measured; however, the Company expects to recognize restructuring costs through the first quarter of 2015. This measurement includes employee costs for employees that are required to render service (beyond a minimum retention period) in order to receive the termination benefits; the Company will recognize a liability ratably over the future service period.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
	22.   SUBSEQUENT EVENTS
	The Company's management has evaluated subsequent events through the date of issuance of the consolidated financial statements included herein. There have been no subsequent events that occurred during such period that would require disclosure in this Form 10-K or would be required to be recognized in the consolidated financial statements as of and for the year ended December 31, 2014, except as disclosed below.
	Effective January 1, 2015, the Company originated a $41.6 million transitional first mortgage loan on a skilled nursing facility located in New York. At closing, the outstanding principal balance was approximately $41.6 million. The loan has an interest rate of LIBOR + 5.0% (plus origination and exit fees) subject to a 0.25% LIBOR floor and a term of two years.
	Effective January 1, 2015, the Company's Manager transferred primary servicing of the Company's investments to ACRE Capital. The Company's Manager will specially service, as needed, certain of the Company's investments.
	On February 27, 2015, the agreement governing the BAML Line of Credit was amended to, among other things, increase the aggregate commitment to $135.0 million and extend the maturity date to June 30, 2016.
	On January 20, 2015, and January 28, 2015, the Company transferred $3.9 million and $1.8 million, respectively, of the $170.0 million preferred equity investment to third party institutional investors. As of March 5, 2015, the Company's controlling financial interest in ACRC KA is 51.0% and the third party institutional investors own the remaining 49.0%.
	Subsequent to the year ended December 31, 2014, ACRE Capital rate-locked $17.7 million in Fannie Mae loan commitments.
	On March 5, 2015, the Company declared a cash dividend of $0.25 per common share for the first quarter of 2015. The first quarter 2015 dividend is payable on April 15, 2015 to common stockholders of record as of March 31, 2015.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation
	The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in conformity with generally accepted accounting principles ("GAAP") and include the accounts of the Company, the consolidated variable interest entities ("VIEs") that the Company controls and of which the Company is the primary beneficiary, and the Company's wholly owned subsidiaries. The consolidated financial statements reflect all adjustments and reclassifications that, in the opinion of management, are necessary for the fair presentation of the Company's results of operations and financial condition as of and for the periods presented. All intercompany balances and transactions have been eliminated.
Variable Interest Entities	Variable Interest Entities
	The Company evaluates all of its interests in VIEs for consolidation. When the Company's interests are determined to be variable interests, the Company assesses whether it is deemed to be the primary beneficiary of the VIE. The primary beneficiary of a VIE is required to consolidate the VIE. Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 810, Consolidation ("ASC 810"), defines the primary beneficiary as the party that has both (i) the power to direct the activities of the VIE that most significantly impact its economic performance, and (ii) the obligation to absorb losses and the right to receive benefits from the VIE which could be potentially significant. The Company considers its variable interests, as well as any variable interests of its related parties in making this determination. Where both of these factors are present, the Company is deemed to be the primary beneficiary and it consolidates the VIE. Where either one of these factors is not present, the Company is not the primary beneficiary and it does not consolidate the VIE.
	To assess whether the Company has the power to direct the activities of a VIE that most significantly impact the VIE's economic performance, the Company considers all facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes first, identifying the activities that most significantly impact the VIE's economic performance; and second, identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE or have the right to unilaterally remove those decision makers are deemed to have the power to direct the activities of a VIE.
	To assess whether the Company has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, the Company considers all of its economic interests, including debt and equity investments, servicing fees, and other arrangements deemed to be variable interests in the VIE. This assessment requires that the Company applies judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE's capital structure; and the reasons why the interests are held by the Company.
	For VIEs of which the Company is determined to be the primary beneficiary, all of the underlying assets, liabilities, equity, revenue and expenses of the structures are consolidated into the Company's consolidated financial statements.
	The Company performs an ongoing reassessment of: (1) whether any entities previously evaluated under the majority voting interest framework have become VIEs, based on certain events, and therefore are subject to the VIE consolidation framework, and (2) whether changes in the facts and circumstances regarding its involvement with a VIE causes the Company's consolidation conclusion regarding the VIE to change. See Note 17 included in these financial statements for further discussion of the Company's VIEs.
Segment Reporting	Segment Reporting
	The Company has two reportable business segments: principal lending and mortgage banking. See Note 19 included in these consolidated financial statements for further discussion of the Company's reportable business segments.
Reclassifications	Reclassifications
	Certain prior period amounts have been reclassified to conform to the current period presentation. Accounts payable and accrued expenses have been reclassified into other liabilities in the consolidated statements of cash flows. Gains attributable to fair value of future servicing rights, change in fair value of loan commitments and change in fair value of forward sale commitments have been reclassified into change in mortgage banking activities in the consolidated statements of cash flows. Other interest expense related to the 2015 Convertible Notes (defined below) has been reclassified into interest expense, other interest expense related to the Warehouse Lines of Credit (as defined in Note 6 included in these consolidated financial statements) has been reclassified into gains from mortgage banking activities and other interest expense related to escrow accounts has been reclassified into servicing fees, net in the consolidated statements of operations. As of December 31, 2014, the Company no longer presents other interest expense in its consolidated statements of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include funds on deposit with financial institutions, including demand deposits with financial institutions. Cash and short-term investments with an original maturity of three months or less when acquired are considered cash and cash equivalents for the purpose of the consolidated balance sheets and statements of cash flows.
Restricted Cash	Restricted Cash
	Restricted cash includes escrow deposits for taxes, insurance, leasing outlays, capital expenditures, tenant security deposits and payments required under certain loan agreements. These escrow deposits are held on behalf of the respective borrowers and are offset by escrow liabilities included in other liabilities in the consolidated balance sheets. In connection with its mortgage banking business, the Company held restricted cash, which consisted of reserves that are a requirement of the Fannie Mae DUS program and borrower deposits, which represent funds that were collected for the processing of the borrowers loan applications and loan commitments.
Concentration of Credit Risk	Concentration of Credit Risk
	Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash, loans held for investment, MSRs, loans held for sale, interest receivable and derivative financial instruments. The Company places its cash and cash equivalents with financial institutions and, at times, cash held may exceed the FDIC-insured limit. The Company has exposure to credit risk on its loans held for investment and through its subsidiary ACRE Capital, the Company has exposure on credit risk on loans held for sale and the servicing portfolio whereby ACRE Capital shares in the risk of loss (see Note 7 included in these consolidated financial statements). The Company and the Company's Manager seek to manage credit risk by performing due diligence prior to origination or acquisition and through the use of non-recourse financing, when and where available and appropriate.
Loans Held for Investment	Loans Held for Investment
	The Company originates CRE debt and related instruments generally to be held for investment. Loans that are held for investment are carried at cost, net of unamortized loan fees and origination costs, unless the loans are deemed impaired. Impairment occurs when it is deemed probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan. If a loan is considered to be impaired, the Company will record an allowance to reduce the carrying value of the loan to the present value of expected future cash flows discounted at the loan's contractual effective rate.
	Each loan classified as held for investment is evaluated for impairment on a periodic basis. Loans are collateralized by real estate. The extent of any credit deterioration associated with the performance and/or value of the underlying collateral property and the financial and operating capability of the borrower could impact the expected amounts received. The Company monitors performance of its investment portfolio under the following methodology: (1) borrower review, which analyzes the borrower's ability to execute on its original business plan, reviews its financial condition, assesses pending litigation and considers its general level of responsiveness and cooperation; (2) economic review, which considers underlying collateral, (i.e. leasing performance, unit sales and cash flow of the collateral and its ability to cover debt service, as well as the residual loan balance at maturity); (3) property review, which considers current environmental risks, changes in insurance costs or coverage, current site visibility, capital expenditures and market perception; and (4) market review, which analyzes the collateral from a supply and demand perspective of similar property types, as well as from a capital markets perspective. Such impairment analyses are completed and reviewed by asset management and finance personnel who utilize various data sources, including periodic financial data such as property occupancy, tenant profile, rental rates, operating expenses, and the borrower's exit plan, among other factors.
	In addition, the Company evaluates the entire portfolio to determine whether the portfolio has any impairment that requires a valuation allowance on the remainder of the loan portfolio. As of December 31, 2014, 2013 and 2012, with respect to the Company's loans held for investment, no impairment charges have been recognized.
	Preferred equity investments, which are subordinate to any loans but senior to common equity, are accounted for as loans held for investment and are carried at cost, net of unamortized loan fees and origination costs, unless the loans are deemed impaired, and are included within loans held for investment in the Company's consolidated balance sheets. The Company accretes or amortizes any discounts or premiums over the life of the related loan receivable utilizing the effective interest method.
Loans Held for Sale	Loans Held for Sale
	Through its subsidiaries, including ACRE Capital, ACRC Lender W TRS LLC ("ACRC W TRS") and ACRC Lender U TRS LLC ("ACRC U TRS"), the Company originates mortgage loans held for sale, which are recorded at fair value and accounted for under FASB ASC Topic 860, Transfers and Servicing. The holding period for loans originated by ACRE Capital is approximately 30 days. The carrying value of the mortgage loans sold is reduced by the value allocated to the associated retained MSRs based on relative fair value at the time of the sale. Gains or losses on sales of mortgage loans are recognized based on the difference between the selling price and the adjusted value of the related mortgage loans sold.
	Although the Company generally holds its target investments as long-term investments within its principal lending business, the Company may occasionally classify some of its investments as held for sale. Investments held for sale will be carried at fair value within loans held for sale, at fair value in the Company's consolidated balance sheets, with changes in fair value recorded through earnings. The fees received are deferred and recognized as part of the gain or loss on sale. As of December 31, 2014, the Company did not have any loans held for sale in its principal lending business. As of December 31, 2013, the Company had one loan held for sale in its principal lending business of $84.8 million, net of deferred fees, included in the $89.2 million of loans held for sale in the consolidated balance sheets.
Mortgage Servicing Rights	Mortgage Servicing Rights
	When a mortgage loan is sold, ACRE Capital retains the right to service the loan and recognizes the MSR at fair value. The initial fair value represents expected net cash flows from servicing, as well as interest earnings on escrows and interim cash balances, borrower prepayment penalties, delinquency rates, late charges along with ancillary fees that are discounted at a rate that reflects the credit and liquidity risk of the MSR over the estimated life of the underlying loan. After initial recognition, changes in the MSR fair value are included within change in fair value of mortgage servicing rights in the Company's consolidated statements of operations for the period in which the change occurs.
Intangible Assets	Intangible Assets
	Intangible assets consist of ACRE Capital's licenses permitting it to participate in programs offered by Fannie Mae, Freddie Mac and HUD (including Ginnie Mae). These licenses are intangible assets with indefinite lives. The Company evaluates identified intangibles for impairment annually or if other events or circumstances indicate that the carrying value may be impaired.
Debt Issuance Costs	Debt Issuance Costs
	Debt issuance costs under the Company's indebtedness are capitalized and amortized over the terms of the respective debt instrument. Debt issuance costs related to debt securitizations are capitalized and amortized over the term of the underlying loans using the effective interest method. When an underlying loan is prepaid in a debt securitization, the related unamortized debt issuance costs are charged to expense based on a pro-rata share of the debt issuance costs being allocated to the specific loans that were prepaid. Amortization of debt issuance costs is included within interest expense in the Company's consolidated statements of operations while the unamortized balance is included within other assets in the Company's consolidated balance sheets.
Derivative Financial Instruments	Derivative Financial Instruments
	The Company does not hold or issue derivative instruments for trading purposes. The Company recognizes derivatives on its consolidated balance sheets, measures them at their estimated fair value and recognizes changes in their estimated fair value in the Company's consolidated statements of operations for the period in which the change occurs.
	Through its subsidiary, ACRE Capital, the Company enters into loan commitments with borrowers on loan originations whereby the interest rate on the prospective loan is determined prior to funding. In general, ACRE Capital simultaneously enters into forward sale commitments with investors in order to hedge interest rate exposure on loan commitments. The forward sale commitment with the investor locks in an interest rate and price for the sale of the loan. The terms of the loan commitment with the borrower and the forward sale commitment with the investor are matched with the objective of hedging interest rate risk. Loan commitments and forward sale commitments are considered undesignated derivative instruments. Accordingly, such commitments, along with any related fees received from potential borrowers, are recorded at fair value, with changes in fair value recorded in earnings.
	On December 19, 2012, the Company issued unsecured 7.00% Convertible Senior Notes that mature in 2015 (the "2015 Convertible Notes"). The conversion features of the 2015 Convertible Notes were deemed to be an embedded derivative under FASB ASC Topic 815, Derivatives and Hedging ("ASC 815"). In accordance with ASC 815, the Company was required to bifurcate the embedded derivative related to the conversion features of the 2015 Convertible Notes. Prior to June 26, 2013, the Company recognized the embedded derivative as a liability on its balance sheet, measured at its estimated fair value and recognized changes in its estimated fair value within changes in fair value of derivatives in the Company's consolidated statements of operations for the period in which the change occurs. See Note 9 included in these consolidated financial statements for information on the derivative liability reclassification.
Fair Value Measurements	Fair Value Measurements
	GAAP establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The financial instruments recorded at fair value on a recurring basis in the Company's consolidated financial statements are derivative financial instruments, MSRs and loans held for sale. The Company has not elected the fair value option for certain other financial instruments, including loans held for investment, secured funding agreements and other debt instruments. Such financial instruments are carried at cost. Fair value is separately disclosed (see Note 14 included in these consolidated financial statements).
Allowance for Loss Sharing	Allowance for Loss Sharing
	When a loan is sold under the Fannie Mae DUS program, ACRE Capital undertakes an obligation to partially guarantee the performance of the loan. The date ACRE Capital commits to make a loan to a borrower, a liability for the fair value of the obligation undertaken in issuing the guaranty is recognized. Subsequent to the initial commitment date, the Company monitors the performance of each loan for events or circumstances which may signal a liability to be recognized if there is a probable and estimable loss. The initial fair value of the guarantee is estimated by examining historical loss share experienced in the ACRE Capital Fannie Mae DUS portfolio since inception. The initial fair value of the guarantee is included within the provision for loss sharing in the Company's consolidated statements of operations. These historical loss shares serve as a basis to derive a loss share rate which is then applied to the current ACRE Capital DUS portfolio (net of specifically identified impaired loans that are subject to a separate loss share reserve analysis).
Servicing Fee Payable	Servicing Fee Payable
	ACRE Capital provides additional payments to certain personnel by providing them with a percentage of the servicing fee revenue that is earned by ACRE Capital, which is initially recorded as a liability when ACRE Capital commits to make a loan to a borrower. The initial fair value of the liability represents the expected net cash payments over the life of the related mortgage loan that are discounted at a rate that reflects the credit and liquidity risk of the related MSR. ACRE Capital incurs an expense over the life of each loan as long as the related loan is performing. If a particular loan is not performing, the recipient will not receive the additional compensation on that loan, and if a loss sharing event is triggered, the recipient will not receive a portion of the additional compensation on other loans. The servicing fee payable is included within other liabilities in the consolidated balance sheets. The initial fair value of the related expense is included within gains from mortgage banking activities and the changes in the fair value of the servicing fee payable over the life of the related mortgage loan is included within servicing fee revenue on a net basis in the consolidated statements of operations in the period in which the change occurs.
Revenue Recognition	Revenue Recognition
	Interest income from loans held for investment is accrued based on the outstanding principal amount and the contractual terms of each loan. For loans held for investment, origination fees, contractual exit fees and direct loan origination costs are also recognized in interest income from loans held for investment over the initial loan term as a yield adjustment using the effective interest method.
	A reconciliation of the Company's interest income from loans held for investment, excluding non-controlling interests, to the Company's interest income from loans held for investment as included within its consolidated statements of operations is as follows:
	$ in thousands	For the year ended
		December 31, 2014
	Interest income from loans held for investment	$	70,495
	Interest income from non-controlling interest investment held by third parties		(307	)
	Interest income from loans held for investment, excluding non-controlling interests	$	70,188
	Servicing fees are earned for servicing mortgage loans, including all activities related to servicing the loans, and are recognized as services are provided over the life of the related mortgage loan. Also included in servicing fees are the net fees earned on borrower prepayment penalties and interest earned on borrowers' escrow payments and interim cash balances, along with other ancillary fees and reduced by write-offs of MSRs for loans that are prepaid, changes in the fair value of the servicing fee payable and interest expense related to escrow accounts.
	Gains from mortgage banking activities includes the initial fair value of MSRs, loan origination fees, gain on the sale of loans originated, interest income and fees earned on loans held for sale, changes to the fair value of derivative financial instruments attributable to the loan commitments and forward sale commitments and reduced by the expense related to the initial fair value of the servicing fee payable and the interest expense related to the Warehouse Lines of Credit (as defined in Note 6 included in these consolidated financial statements). The initial fair value of MSRs, loan origination fees, gain on the sale of loans originated, certain direct loan origination costs for loans held for sale and the expenses related to the initial fair value of the servicing fee payable are recognized when ACRE Capital commits to make a loan to a borrower. When the Company settles a sale agreement and transfers the mortgage loan to the buyer, the Company recognizes a MSR asset equal to the present value of the expected net cash flows associated with the servicing of loans sold.
Net Interest Margin and Interest Expense	Net Interest Margin and Interest Expense
	Net interest margin within the consolidated statements of operations is a measure that is specific to the Company's principal lending business and serves to measure the performance of the principal lending segment's loans held for investment as compared to its use of debt leverage. The Company includes interest income from its loans held for investment and interest expense related to its secured funding agreements, securitizations debt and the 2015 Convertible Notes in net interest margin. As of December 31, 2014, 2013 and 2012, interest expense is comprised of the following:
		As of December 31,
		2014			2013		2012
	Secured funding agreements and securitizations debt	$	27,299		$	8,774	$	2,342
	Convertible notes		6,338			6,199		216
	Interest expense	$	33,637		$	14,973	$	2,558
Stock-Based Compensation	Stock-Based Compensation
	The Company recognizes the cost of stock-based compensation, which is included within compensation and benefits for ACRE Capital and general and administrative expenses for ACRE in the consolidated statements of operations. The fair value of the time vested restricted stock or restricted stock units granted is recorded to expense on a straight-line basis over the vesting period for the award, with an offsetting increase in stockholders' equity. For grants to directors, officers and employees, the fair value is determined based upon the market price of the stock on the grant date.
	Certain ACRE Capital employees were granted restricted stock that vest in proportion to various financial performance targets being met over a specified period of time. The fair value of the performance based restricted stock granted is recorded to expense on an accelerated basis, using the accelerated attribution method, over the performance period for the award, with an offsetting increase in stockholders' equity. For performance based measures, compensation expense, net of estimated forfeitures, is recorded based on the Company's estimate of the probable achievement of such measures.
Underwriting Commissions and Offering Costs	Underwriting Commissions and Offering Costs
	Underwriting commissions and offering costs incurred in connection with common stock offerings are reflected as a reduction of additional paid-in capital. Costs incurred that are not directly associated with the completion of a common stock offering are expensed when incurred. Underwriting commissions that are the responsibility of and paid by a related party, such as the Company's Manager, are reflected as a contribution of additional paid-in capital from a sponsor in the consolidated financial statements.
Income Taxes	Income Taxes
	The Company has elected and qualified for taxation as a REIT commencing with its taxable year ended December 31, 2012. As a result of the Company's REIT qualification and its distribution policy, the Company does not generally pay U.S. federal corporate level income taxes. Many of the REIT requirements, however, are highly technical and complex. To continue to qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that the Company distribute annually at least 90% of the Company's REIT taxable income to the Company's stockholders. If the Company fails to continue to qualify as a REIT in any taxable year and does not qualify for certain statutory relief provisions, the Company will be subject to U.S. federal and state income taxes at regular corporate rates (including any applicable alternative minimum tax) beginning with the year in which it fails to qualify and may be precluded from being able to elect to be treated as a REIT for the Company's four subsequent taxable years. Even though the Company currently qualifies for taxation as a REIT, the Company may be subject to certain U.S. federal, state, local and foreign taxes on the Company's income and property and to U.S. federal income and excise taxes on the Company's undistributed REIT taxable income.
	In connection with the acquisition of ACRE Capital, the Company created a wholly owned subsidiary, ACRE Capital Holdings LLC ("TRS Holdings"), to hold the common units of ACRE Capital. The Company formed a wholly owned subsidiary in December 2013, ACRC W TRS and in March 2014, ACRC U TRS in order to issue and hold certain loans intended for sale. The Company currently owns 100% of the equity of TRS Holdings, ACRC U TRS and ACRC W TRS. Entity classification elections to be taxed as a corporation and taxable REIT subsidiary ("TRS") elections were made with respect to TRS Holdings, ACRC W TRS and ACRC U TRS. A TRS is an entity taxed as a corporation other than a REIT in which a REIT directly or indirectly holds equity, and that has made a joint election with such REIT to be treated as a TRS. Other than some activities relating to lodging and health care facilities, a TRS generally may engage in any business, including investing in assets and engaging in activities that could not be held or conducted directly by the Company without jeopardizing its qualification as a REIT. A TRS is subject to applicable U.S. federal, state, local and foreign income tax on its taxable income. In addition, as a REIT, the Company also may be subject to a 100% excise tax on certain transactions between it and its TRS that are not conducted on an arm's-length basis.
	For financial reporting purposes, a provision for current and deferred taxes has been established for the portion of the Company's GAAP consolidated earnings recognized by TRS Holdings, ACRC U TRS and ACRC W TRS.
	FASB ASC Topic 740, Income Taxes ("ASC 740"), prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company has analyzed its various federal and state filing positions and believes that its income tax filing positions and deductions are well documented and supported. As of December 31, 2014 and 2013, based on the Company's evaluation, there is no reserve for any uncertain income tax positions. TRS Holdings, ACRC U TRS and ACRC W TRS recognize interest and penalties, if any, related to unrecognized tax benefits within income tax expense in the consolidated statements of operations. Accrued interest and penalties, if any, are included within other liabilities in the consolidated balance sheets.
Comprehensive Income	Comprehensive Income
	For the years ended December 31, 2014, 2013 and 2012, comprehensive income equaled net income; therefore, a separate consolidated statement of comprehensive income is not included in the accompanying consolidated financial statements.
Earnings per Share	Earnings per Share
	The Company calculates basic earnings (loss) per share by dividing net income (loss) allocable to common stockholders for the period by the weighted-average shares of common stock outstanding for that period after consideration of the earnings (loss) allocated to the Company's restricted stock, which are participating securities as defined in GAAP. Diluted earnings (loss) per share takes into effect any dilutive instruments, such as restricted stock and convertible debt, except when doing so would be anti-dilutive. With respect to the 2015 Convertible Notes, the Company has the ability and intention to settle the principal in cash and to settle any amount above par in shares of the Company's common stock if the conversion options were exercised. As such, the Company is applying the treasury stock method when determining the dilutive impact on earnings per share.
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates.
Business Combinations	Business Combinations
	The Company accounts for business combinations using the acquisition method of accounting, under which the purchase price of the acquisition is allocated to the assets acquired and liabilities assumed using the fair values determined by management as of the acquisition date. The Company recognizes identifiable assets acquired and liabilities (both specific and contingent) assumed at their fair values at the acquisition date. Furthermore, acquisition-related costs, such as due diligence, legal and accounting fees, are not capitalized or applied in determining the fair value of the acquired assets. The excess of the assets acquired and liabilities assumed over the purchase price is recognized as a gain on acquisition. During the measurement period, the Company records adjustments to the assets acquired and liabilities assumed with corresponding adjustments to the gain on acquisition. After the measurement period, which could be up to one year after the transaction date, subsequent adjustments are recorded through earnings.
Asset Acquisitions	Asset Acquisitions
	The Company accounts for acquired assets and assumed liabilities that do not meet the definition of a business as an asset acquisition, under which the cost of the acquisition is allocated to the assets acquired and liabilities assumed on a relative fair value basis. Acquisition-related costs, such as due diligence, legal and accounting fees, are capitalized as a component of the cost of the assets acquired.
Costs Associated with Restructuring Activities	Costs Associated with Restructuring Activities
	The Company began restructuring and relocating certain ACRE Capital support services during the three months ended March 31, 2014. The Company incurred costs related to these restructuring activities, including employee termination costs and office relocation costs. The employee termination costs are associated with the severance of certain employees, retention bonuses and guaranteed bonuses to certain key employees, insurance and outplacement, which will be accounted for on a straight-line basis over the period from notification through each employee's termination date. If employees are required to render service (beyond a minimum retention period) in order to receive the termination benefits, a liability for employee termination costs is measured initially at the communication date based on its fair value, as of the termination date, and recognized ratably over the future service period. Office relocation costs include costs that will be incurred in the physical move of offices and incremental rent costs, which will be expensed when space is vacated. The costs incurred to date are included within general and administrative expenses in the Company's consolidated statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606)." The guidance in this ASU supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition." Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The amendments in ASU No. 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements.
	In November 2014, the FASB issued ASU No. 2014-16, "Derivatives and Hedging (Topic 815)." The objective of this ASU is to eliminate the use of different methods in practice and thereby reduce existing diversity under GAAP in the accounting for hybrid financial instruments issued in the form of a share. The amendments clarify how current GAAP should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. In addition, the amendments in this ASU clarify that, in evaluating the nature of a host contract, an entity should assess the substance of the relevant terms and features when considering how to weight those terms and features. The amendments in ASU No. 2014-16 are effective for public entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted; however, the Company does not plan to early adopt this ASU. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements.

SIGNIFICANT_ACCOUNTING_POLICIE2

SIGNIFICANT ACCOUNTING POLICIES (Table)	12 Months Ended
	Dec. 31, 2014
SIGNIFICANT ACCOUNTING POLICIES
Reconciliation of interest income from loan held for investment
	$ in thousands	For the year ended
		December 31, 2014
	Interest income from loans held for investment	$	70,495
	Interest income from non-controlling interest investment held by third parties		(307	)
	Interest income from loans held for investment, excluding non-controlling interests	$	70,188
Schedule of interest expense
		As of December 31,
		2014			2013		2012
	Secured funding agreements and securitizations debt	$	27,299		$	8,774	$	2,342
	Convertible notes		6,338			6,199		216
	Interest expense	$	33,637		$	14,973	$	2,558

LOANS_HELD_FOR_INVESTMENT_Tabl

LOANS HELD FOR INVESTMENT (Tables)	12 Months Ended
	Dec. 31, 2014
LOANS HELD FOR INVESTMENT.
Schedule of loans held for investments
			December 31, 2014
	$ in thousands		Carrying			Outstanding			Weighted			Weighted			Weighted
			Amount(1)			Principal(1)			Average			Average			Average
									Interest Rate			Unleveraged			Remaining
												Effective Yield(2)			Life (Years)
	Senior mortgage loans		$	1,156,476		$	1,164,055			4.5	%		5.0	%		2.1
	Subordinated debt and preferred equity investments			228,499			231,226			10.3	%		10.7	%		6.1
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	1,384,975		$	1,395,281			5.5	%		6.0	%		2.8
			December 31, 2013
	$ in thousands		Carrying			Outstanding			Weighted			Weighted			Weighted
			Amount(1)			Principal(1)			Average			Average			Average
									Interest Rate			Unleveraged			Remaining
												Effective Yield(2)			Life (Years)
	Senior mortgage loans		$	867,578		$	873,781			5.1	%		5.6	%		2.4
	Subordinated debt and preferred equity investments			90,917			91,655			9.8	%		10.2	%		3.6
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	958,495		$	965,436			5.5	%		6.0	%		2.5
	-1	The difference between the Carrying Amount and the Outstanding Principal face amount of the loans held for investment consists of unamortized purchase discount, deferred loan fees and loan origination costs.
	-2	Unleveraged Effective Yield is the compounded effective rate of return that would be earned over the life of the investment based on the contractual interest rate (adjusted for any deferred loan fees, costs, premium or discount) and assumes no dispositions, early prepayments or defaults. The Total Weighted Average Unleveraged Effective Yield is calculated based on the average of Unleveraged Effective Yield of all loans held by the Company as of December 31, 2014 and 2013 as weighted by the Outstanding Principal balance of each loan.
Summary of the difference between outstanding principal on loans originated and held for sale
			As of December 31, 2014
	$ in thousands		Carrying
			Amount
	Loans held for investment		$	1,462,584
	Non-controlling interest investment held by third parties			(77,609	)
	Total investment portfolio (excluding non-controlling interests held by third parties)		$	1,384,975
Schedule of current investment portfolio and Outstanding Principal
	A more detailed listing of the Company's investment portfolio, based on information available as of December 31, 2014 is as follows:
	(amounts in millions, except percentages)
	Loan Type		Location		Outstanding			Carrying			Interest Rate			Unleveraged			Maturity		Payment
					Principal(1)			Amount(1)						Effective			Date(3)		Terms(4)
														Yield(2)
	Transitional Senior Mortgage Loans:
	Office		CA		$	75.0		$	74.5			L+3.75%			4.2	%		Aug-17		I/O
	Retail		IL			70.0			69.5			L+4.25%			4.9	%		Aug-17		I/O
	Office		TX			61.7			60.9			L+5.00%			6.1	%		Jan-17		I/O
	Multifamily		GA			45.8			45.8			L+4.95%	-5		5.7	%		Apr-16		I/O
	Mixed-use		IL			45.1			44.4			L+3.60%			4.2	%		Oct-18		I/O
	Multifamily		TX			44.7			44.6			L+3.75%			4.5	%		Jul-16		I/O
	Multifamily		GA			38.4			38.4			L+4.95%	-5		5.7	%		Apr-16		I/O
	Industrial		MO/KS			38.0			37.7			L+4.30%			5.1	%		Jan-17		I/O
	Multifamily		NY			37.8			37.5			L+5.00%			6.1	%		Oct-17		I/O
	Multifamily		TX			35.4			35.3			L+4.70%			5.6	%		Apr-16		I/O
	Multifamily		FL			35.2			35.0			L+3.75%			4.7	%		Mar-17		I/O
	Multifamily		TX			34.9			34.8			L+3.75%			4.5	%		Jul-16		I/O
	Office		FL			32.8			32.6			L+3.65%			4.0	%		Oct-17		I/O
	Office		OH			30.0			29.9			L+5.35%-			6.0	%		Nov-15		I/O
												L+5.00%	-6
	Retail		IL			29.0			28.7			L+3.25%			3.9	%		Sep-18		I/O
	Office		CA			27.7			27.5			L+4.50%			5.2	%		Apr-17		I/O
	Office		OR			27.4			27.1			L+3.75%			4.4	%		Oct-18		I/O
	Multifamily		NY			27.0			26.7			L+3.75%			4.4	%		Oct-17		I/O
	Multifamily		TX			27.2			27.1			L+3.65%			4.4	%		Jan-17		I/O
	Office		KS			25.5			25.4			L+5.00%			5.8	%		Mar-16		I/O
	Mixed-use		NY			26.0			25.9			L+4.25%			4.8	%		Aug-17		I/O
	Multifamily		TX			24.9			24.7			L+3.65%			4.4	%		Jan-17		I/O
	Multifamily		GA			23.5			23.5			L+4.95%	-5		5.7	%		Apr-16		I/O
	Multifamily		AZ			21.8			21.8			L+4.25%			5.9	%		Sep-15		I/O
	Multifamily		GA			21.6			21.4			L+3.85%			4.8	%		May-17		I/O
	Industrial		CA			19.9			19.7			L+5.25%			6.1	%		May-17		I/O
	Industrial		VA			19.0			18.9			L+5.25%			6.4	%		Dec-15		I/O
	Office		CO			16.8			16.6			L+3.95%			4.6	%		Dec-17		I/O
	Office		CA			15.6			15.5			L+3.75%			4.5	%		Jul-16		I/O
	Office		CA			14.8			14.7			L+4.50%			5.3	%		Jul-16		I/O
	Multifamily		NC			14.9			14.8			L+4.00%			4.8	%		Apr-17		I/O
	Multifamily		NY			13.7			13.6			L+3.85%			4.4	%		Nov-17		I/O
	Multifamily		FL			13.7			13.6			L+3.80%			4.6	%		Feb-17		I/O
	Mixed-use		NY			12.6			12.4			L+3.95%			4.7	%		Sep-17		I/O
	Multifamily		FL			11.2			11.1			L+3.75%			4.6	%		Apr-17		I/O
	Multifamily		FL			10.9			10.8			L+3.80%			4.6	%		Feb-17		I/O
	Stretch Senior Mortgage Loans:
	Office		FL			47.3			47.3			L+5.25%	-7		5.4	%		Apr-16		I/O
	Industrial		OH			32.7			32.4			L+4.20%			4.7	%		May-18		I/O
	Office		CA			14.5			14.4			L+4.75%			5.7	%		Feb-16		I/O
	Subordinated Debt and Preferred Equity Investments:
	Office		IL			37.0			36.8			8.75%			9.1	%		Aug-16		I/O
	Multifamily		NY			33.3			33.1			L+8.07%	-8		8.5	%		Jan-19		I/O
	Multifamily		GA and FL			34.8			34.2			L+11.85%	-9		12.3	%		Jun-21		I/O
	Office		GA			14.3			14.3			9.5%	-10		9.5	%		Aug-17		I/O
	Mixed-use		NY			14.6			14.5			11.50%	-11		11.9	%		Nov-16		I/O
	Multifamily		TX			4.9			4.8			L+11.00%	-12		11.6	%		Oct-16		I/O
	Various		Diversified(13)			92.4			90.8			10.95%			11.4	%		Dec-24		I/O
	Total/Average				$	1,395.3		$	1,385.0						6.0	%
	-1	The difference between the Carrying Amount and the Outstanding Principal amount of the loans held for investment consists of unamortized purchase discount, deferred loan fees and loan origination costs.
	-2	Unleveraged Effective Yield is the compounded effective rate of return that would be earned over the life of the investment based on the contractual interest rate (adjusted for any deferred loan fees, costs, premium or discount) and assumes no dispositions, early prepayments or defaults. Unleveraged Effective Yield for each loan is calculated based on LIBOR as of December 31, 2014 or the LIBOR floor, as applicable. The Weighted Average Unleveraged Effective Yield is calculated based on the average of Unleveraged Effective Yield of all loans held by the Company as of December 31, 2014 as weighted by the Outstanding Principal balance of each loan.
	-3	Certain loans are subject to contractual extension options that vary between one and two 12-month extensions and may be subject to performance based or other conditions as stipulated in the loan agreement. Actual maturities may differ from contractual maturities stated herein as certain borrowers may have the right to prepay with or without paying a prepayment penalty. The Company may also extend contractual maturities in connection with loan modifications.
	-4	I/O =nterest only. Amortization begins on the transitional senior Missouri/Kansas loan with an outstanding principal of $38.0 million in January 2015 and on the transitional senior New York loan with an outstanding principal of $37.8 million in October 2016, respectively, as of December 31, 2014. Amortization begins on the stretch senior Ohio loan with an outstanding principal as of December 31, 2014 of $32.7 million in May 2017. The remainder of the loans in the Company's principal lending portfolio are non-amortizing through their primary terms.
	-5	These loans were originally structured as an A/B note in a cross collateralized loan pool with the Company holding the B-note. In connection with the commercial mortgage-backed securities ("CMBS") financing on November 19, 2013, the Company purchased the A-note and modified and split the combined loan into individual senior whole loans.
	-6	The initial interest rate for this loan of L+5.35% steps down based on performance hurdles to L+5.00%.
	-7	In March 2014, the Company entered into a loan modification that extended the loan for a term of two years and lowered the interest rate to L+5.25%.
-8	In March 2014, the $85.2 million (outstanding principal) senior loan held for sale by the Company was restructured whereby the principal balance was reduced from $85.2 million to $80.4 million and total commitment was decreased from $93.8 million to $88.4 million. The senior loan was subsequently sold to third party purchasers. The transaction qualified for sale accounting under FASB ASC Topic 860, Transfers and Servicing. The origination and exit fees associated with the senior loan were not restructured and the Company retained the right to a portion of the origination and the exit fees. Upon the sale of the senior loan, the Company recorded a $680 thousand (net of expenses) gain on sale of loans in its consolidated statements of operations. The $28.4 million (outstanding principal) mezzanine loan retained by the Company was also restructured whereby the principal balance was increased from $28.4 million to $33.3 million and total commitment was increased from $31.3 million to $36.6 million. In connection with the restructuring of the mezzanine loan, the interest rate decreased from L+9.90% with a LIBOR floor of 0.17% to L+7.46% with a LIBOR floor of 0.17%. The principal balance, interest rate and unleveraged effective yield of the mezzanine loan may change further based on certain asset-level performance hurdles being met. Due to asset-level performance hurdles being met, the interest rate for this loan increased to L+8.07% on December 22, 2014.
-9	The preferred return is L+11.85% with 2.00% as payment-in-kind ("PIK"), to the extent cash flow is not available. There is no capped dollar amount on accrued PIK.
-10	The interest rate for this loan decreased to 9.50% on December 15, 2014.
-11	The interest rate is 11.50% with a 9.00% current pay and up to a capped dollar amount as PIK based on the borrower's election.
-12	The preferred return is L+11.00% with an L+ 9.00% current pay and up to a capped dollar amount as PIK.
-13	The preferred equity investment is in an entity whose assets are comprised of multifamily, student housing, medical office and self-storage properties.
Schedule of activity in loan portfolio	For the years ended December 31, 2014 and 2013, the activity in the Company's loan portfolio was as follows ($ in thousands):
	Balance at December 31, 2012		$	353,500
	Initial funding			640,384
	Receipt of origination fee, net of costs			(6,058	)
	Additional funding			35,223
	Amortizing payments			(150	)
	Loan payoffs			(66,770	)
	Origination fee accretion			2,366
	Balance at December 31, 2013		$	958,495
	Initial funding			637,222
	Receipt of origination fee, net of costs			(7,026	)
	Additional funding			80,215
	Loan payoffs			(209,983	)
	Origination fee accretion			3,661
	Balance at December 31, 2014		$	1,462,584

MORTGAGE_SERVICING_RIGHTS_Tabl

MORTGAGE SERVICING RIGHTS (Tables)	12 Months Ended
	Dec. 31, 2014
MORTGAGE SERVICING RIGHTS
Schedule of activity related to MSRs	Activity related to MSRs for the years ended December 31, 2014 and 2013 was as follows ($ in thousands):
	MSRs acquired in the ACRE Capital acquisition (See Note 18)	$	61,236
	Additions, following sale of loan		2,385
	Changes in fair value		(2,697	)
	Prepayments and write-offs		(1,284	)
	Balance at December 31, 2013	$	59,640
	MSRs acquired in asset acquisition (See Note 18)		1,259
	Additions, following sale of loan		7,853
	Changes in fair value		(7,650	)
	Prepayments and write-offs		(2,213	)
	Balance at December 31, 2014	$	58,889

DEBT_Tables

DEBT (Tables)	12 Months Ended
	Dec. 31, 2014
DEBT
Schedule of outstanding balances and total commitments under the Funding Agreements
			As of December 31,
			2014					2013
	$ in thousands		Outstanding		Total			Outstanding		Total
			Balance		Commitment			Balance		Commitment
	Wells Fargo Facility		$	120,766	$	225,000		$	166,934	$	225,000
	December 2011 Citibank Facility			—		—			97,485		125,000
	December 2014 Citibank Facility			93,432		250,000			—		—
	Capital One Facility			—		100,000			—		100,000
	March 2014 CNB Facility			42,000		50,000			—		—
	July 2014 CNB Facility			75,000		75,000			—		—
	MetLife Facility			144,673		180,000			—		—
	April 2014 UBS Facility			19,685		140,000			—		—
	December 2014 UBS Facility			57,243		57,243			—		—
	ASAP Line of Credit			58,469		80,000	-1		—		105,000
	BAML Line of Credit			134,696		180,000	-2		—		80,000
	Total		$	745,964	$	1,337,243		$	264,419	$	635,000
	-1	The commitment amount is subject to change at any time at Fannie Mae's discretion.
	-2	The BAML Line of Credit's commitment size increased to $180.0 million for the period November 25, 2014 through January 26, 2015.
Schedule of principal maturities of the Company's secured funding agreements and the 2015 Convertible Notes	At December 31, 2014, approximate principal maturities of the Company's Financing Facilities and the 2015 Convertible Notes are as follows ($ in thousands):
			Wells		December			Capital		March		July		MetLife		April		December		2015		ASAP		BAML		Total
			Fargo		2014			One		2014		2014		Facility		2014		2014		Convertible		Line of		Line of
			Facility		Citibank			Facility		CNB		CNB				UBS		UBS		Notes		Credit		Credit
					Facility					Facility		Facility				Facility		Facility
	2015		$	120,766	$	—		$	—	$	—	$	75,000	$	—	$	—	$	—	$	69,000	$	58,469	$	134,696	$	457,931
	2016			—		93,432			—		42,000		—		—		—		57,243		—		—		—		192,675
	2017			—		—			—		—		—		144,673		19,685		—		—		—		—		164,358
	2018			—		—			—		—		—		—		—		—		—		—		—		—
	2019			—		—			—		—		—		—		—		—		—		—		—		—
	Thereafter			—		—			—		—		—		—		—		—		—		—		—		—
			$	120,766	$	93,432		$	—	$	42,000	$	75,000	$	144,673	$	19,685	$	57,243	$	69,000	$	58,469	$	134,696	$	814,964

ALLOWANCE_FOR_LOSS_SHARING_Tab

ALLOWANCE FOR LOSS SHARING (Tables)	12 Months Ended
	Dec. 31, 2014
ALLOWANCE FOR LOSS SHARING
Summary of the Company's allowance for loss sharing	A summary of the Company's allowance for loss sharing for the years ended December 31, 2014 and 2013 is as follows ($ in thousands):
	Allowance for loss sharing assumed in the ACRE Capital acquisition (See Note 18)	$	18,386
	Current period provision for loss sharing		6
	Settlements/Writeoffs		(1,912	)
	Balance at December 31, 2013	$	16,480
	Current period provision for loss sharing		(1,364	)
	Settlements/Writeoffs		(2,767	)
	Balance at December 31, 2014	$	12,349

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
Schedule of loan commitments
		As of December 31,
	$ in thousands	2014			2013
	Total commitments	$	1,565,117		$	1,191,212
	Less: funded commitments		(1,395,281	)		(1,050,674	)
	Total unfunded commitments	$	169,836		$	140,538
Schedule of ACRE Capital's commitments to sell and fund loans
		As of December 31,
	$ in thousands	2014			2013
	Commitments to sell loans	$	249,803		$	56,115
	Commitments to fund loans		51,109			51,794
Schedule of future minimum payments under the Company's operating leases	The following table shows future minimum payments under the Company's operating leases for the year ended December 31, 2014 ($ in thousands):
	For the year ended December 31, 2014
	2015	$	565
	2016		790
	2017		839
	2018		839
	2019		765
	Thereafter		1,718
	Total	$	5,516

DERIVATIVES_Tables

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2014
DERIVATIVES
Schedule of fair value of the Company's derivative financial instruments as well as their classification on the balance sheet	The table below presents the fair value of the Company's derivative financial instruments as well as their classification within the Company's consolidated balance sheets as of December 31, 2014 and 2013 ($ in thousands):
		As of December 31,
		2014				2013
		Balance Sheet	Fair Value			Balance Sheet	Fair Value
		Location				Location
	Derivatives not designated as hedging instruments
	Loan commitments	Other assets	$	3,082		Other assets	$	2,038
	Forward sale commitments	Other assets		116		Other assets		272
	Right to acquire MSRs	Other assets		—		Other assets		1,717
	Forward sale commitments	Other liabilities		(1,528	)	Other liabilities		(500	)
	Total derivatives not designated as hedging instruments		$	1,670			$	3,527

EQUITY_Tables

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2014
EQUITY
Schedule of total shares issued and proceeds received in public offerings	The following table summarizes the total shares issued and proceeds received in public offerings of the Company's common stock net of offering costs for the years ended December 31, 2013 and 2012 (in millions, except per share data):
			Shares Issued			Offering Price			Proceeds net of
						per share			offering costs
	2013
	Jul-13			601,590	-1	$	13.50			7.7
	Jun-13			18,000,000		$	13.50			234.6
	Total for the year ended December 31, 2013			18,601,590						242.3
	2012
	May-12			7,700,000		$	18.50			139.0
	Total for the year ended December 31, 2012			7,700,000						139.0
	-1	The Company granted the underwriters an option to purchase up to an additional 2.7 million shares of common stock. This amount represents the partial exercise of the option to purchase additional shares by the underwriters.
Schedule of restricted stock grants awarded	The following table details the restricted stock grants awarded as of December 31, 2014.
	Grant Date		Vesting Start Date		Shares Granted
	May 1, 2012		July 1, 2012			35,135
	June 18, 2012		July 1, 2012			7,027
	July 9, 2012		October 1, 2012			25,000
	June 26, 2013		July 1, 2013			22,526
	November 25, 2013		November 25, 2016			30,381
	January 31, 2014		March 15, 2016			48,273
	February 26, 2014		February 26, 2014			12,030
	February 27, 2014		August 27, 2014			22,354
	June 24, 2014		June 24, 2014			17,658
	Total					220,384
Schedule of restricted stock award activity	The following tables summarize the non-vested shares of restricted stock and the vesting schedule of shares of restricted stock for the Company's directors and officers and employees of ACRE Capital as of December 31, 2014.
	Schedule of Non-Vested Share and Share Equivalents
			Restricted Stock			Restricted Stock			Restricted Stock			Total
			Grants—Directors			Grants—Officer			Grants—Employees
	Balance as of December 31, 2013			25,420			17,186			30,381			72,987
	Granted			29,688			—			70,627			100,315
	Vested			(31,290	)		(6,250	)		(4,471	)		(42,011	)
	Forfeited			(2,494	)		—			(17,883	)		(20,377	)
	Balance as of December 31, 2014			21,324			10,936			78,654			110,914
Future anticipated vesting schedule of restricted stock awards	Future Anticipated Vesting Schedule
			Restricted Stock			Restricted Stock			Restricted Stock			Total
			Grants—Directors			Grants—Officer			Grants—Employees(1)
	2015			16,320			6,250			—			22,570
	2016			4,170			4,686			30,381			39,237
	2017			834			—			—			834
	2018			—			—			—			—
	2019			—			—			—			—
	Total			21,324			10,936			30,381			62,641
	-1	Future anticipated vesting related to employees of ACRE Capital that were granted restricted stock that vests in proportion to certain financial performance targets being met over a specified period of time are not included due to uncertainty in actual vesting date.
Summary of activity in the Company's vested and nonvested shares of restricted stock	The following table summarizes the restricted stock compensation expense included in general and administrative expenses for ACRE and compensation and benefits for ACRE Capital, the total fair value of shares vested and the weighted average grant date fair value of the restricted stock granted to the Company's directors and officers and employees of ACRE Capital for the years ended December 31, 2014 and 2013 ($ in thousands):
			For the Year Ended December 31,
			2014												2013
			Restricted Stock Grants												Restricted Stock Grants
			Directors			Officer			Employees			Total			Directors		Officer		Employees		Total
	Compensation expense		$	445		$	106		$	388		$	939		$	408	$	106	$	10	$	524
	Total fair value of shares vested (1)			399			79			56			534			366		92		—		458
	Weighted average grant date fair value			385			—			944						289		—		398
	-1	Based on the closing price of the Company's common stock on the NYSE on each vesting date.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2014
EARNINGS PER SHARE
Schedule of computations of basic and diluted earnings per share
		For the year ended December 31,
	$ in thousands (except share and per share data)	2014		2013		2012
	Net income attributable to common stockholders:	$	24,396	$	13,766	$	186
	Divided by:
	Basic weighted average shares of common stock outstanding:		28,459,309		18,989,500		6,532,706
	Non-vested restricted stock		125,713		48,652		34,603
	Diluted weighted average shares of common stock outstanding:		28,585,022		19,038,152		6,567,309
	Basic earnings per common share:	$	0.86	$	0.72	$	0.03
	Diluted earnings per common share:	$	0.85	$	0.72	$	0.03

INCOME_TAX_Tables

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2014
INCOME TAX
Schedule of components of the TRS's income tax provision	The TRS' income tax provision consisted of the following for the years ended December 31, 2014 and 2013 ($ in thousands):
		For the year
		ended
		December 31,
		2014			2013
	Current	$	329		$	115
	Deferred		(1,372	)		61
	Total income tax expense (benefit)	$	(1,043	)	$	176
Schedule of U.S. tax jurisdiction and the tax effects of temporary differences on their respective net deferred tax assets and liabilities	. The following table presents the U.S. tax jurisdiction and the tax effects of temporary differences on the TRS' respective net deferred tax assets and liabilities ($ in thousands).
		As of December 31,
		2014			2013
	Deferred tax assets
	Mortgage servicing rights	$	2,844		$	749
	Net operating loss carryforward		1,465			—
	Other temporary differences		1,055			125
	Sub-total-deferred tax assets		5,364			874
	Deferred tax liabilities
	Basis difference in assets from acquisition of ACRE Capital		(2,654	)		(2,810	)
	Components of gains from mortgage banking activities		(4,046	)		(893	)
	Amortization of intangible assets		(170	)		(49	)
	Sub-total-deferred tax liabilities		(6,870	)		(3,752	)
	Net deferred tax liability	$	(1,506	)	$	(2,878	)
Schedule of reconciliation of the TRS's effective tax rate determined using the TRS's statutory U.S. federal tax rate
		For the year ended
		December 31,
		2014			2013
	Federal statutory rate		35.0	%		35.0	%
	State income taxes		2.4	%		5.7	%
	Federal benefit of state tax deduction		(0.8	)%		(2.0	)%
	Effective tax rate		36.6	%		38.7	%

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
Summary of the levels in the fair value hierarchy into which the Company's financial instruments were categorized
	The following table summarizes the levels in the fair value hierarchy into which the Company's financial instruments were categorized as of December 31, 2014 and 2013 ($ in thousands):
			Fair Value as of December 31, 2014
			Level I			Level II			Level III			Total
	Loans held for sale		$	—		$	203,006		$	—		$	203,006
	Mortgage servicing rights			—			—			58,889			58,889
	Derivative assets:
	Loan commitments			—			—			3,082			3,082
	Forward sale commitments			—			—			116			116
	Derivative liabilities:
	Forward sale commitments			—			—			(1,528	)		(1,528	)
			Fair Value as of December 31, 2013
			Level I			Level II			Level III			Total
	Loans held for sale		$	—		$	89,233		$	—		$	89,233
	Mortgage servicing rights			—			—			59,640			59,640
	Derivative assets:
	Loan commitments			—			—			2,038			2,038
	Forward sale commitments			—			—			272			272
	Right to acquire MSRs									1,717			1,717
	Derivative liabilities:
	Forward sale commitments			—			—			(500	)		(500	)
Schedule of significant unobservable inputs used to value the financial instruments categorized within Level 3	The following table summarizes the significant unobservable inputs the Company used to value financial instruments categorized within Level III as of December 31, 2014 ($ in thousands):
								Unobservable Input
	Asset Category		Fair			Primary		Input		Range			Weighted
			Value			Valuation Technique							Average
	Mortgage servicing rights		$	58,889		Discounted cash flow		Discount rate			8 - 14	%		11.4	%
	Loan commitments and forward sale commitments			1,670		Discounted cash flow		Discount rate			8 - 8	%		8.0	%
	The following table summarizes the significant unobservable inputs the Company used to value financial instruments categorized within Level III as of December 31, 2013 ($ in thousands):
								Unobservable Input
	Asset Category		Fair			Primary		Input		Range			Weighted
			Value			Valuation Technique							Average
	Mortgage servicing rights		$	59,640		Discounted cash flow		Discount rate			8 - 14	%		12.0	%
	Loan commitments and forward sale commitments			1,810		Discounted cash flow		Discount rate			8 - 12	%		8.0	%
	Right to acquire MSRs			1,717		Discounted cash flow		Discount rate			8 - 8	%		8.0	%
FAIR VALUE OF FINANCIAL INSTRUMENTS
Summary of change in derivative assets and liabilities classified as Level III
	The following table summarizes the change in derivative assets and liabilities classified as Level III related to mortgage banking activities for the years ended December 31, 2014 and 2013 ($ in thousands):
	Derivative assets and liabilities acquired in the ACRE Capital acquisition, net (See Note 18)		$	182
	Settlements			(2,098	)
	Realized gains (losses) recorded in net income(1)			1,916
	Unrealized gains (losses) recorded in net income(1)			3,527
	Balance at December 31, 2013		$	3,527
	Settlements			(8,893	)
	Realized gains (losses) recorded in net income(1)			5,366
	Unrealized gains (losses) recorded in net income(1)			1,670
	Balance at December 31, 2014		$	1,670
	-1	Realized and unrealized gains (losses) from derivatives are included within gains from mortgage banking activities in the consolidated statements of operations.
Schedule of carrying value and estimated fair value of the Company's financial instruments not carried at fair value on the consolidated balance sheet	As of December 31, 2014 and 2013, the carrying values and fair values of the Company's financial assets and liabilities recorded at cost are as follows ($ in thousands):
						As of December 31,
						2014						2013
			Level in			Carrying			Fair			Carrying			Fair
			Fair Value			Value			Value			Value			Value
			Hierarchy
	Financial assets:
	Loans held for investment			3		$	1,462,584		$	1,472,891		$	958,495		$	965,436
	Financial liabilities:
	Secured funding agreements			2		$	552,799		$	552,799		$	264,419		$	264,419
	Warehouse lines of credit			2			193,165			193,165			—			—
	Convertible notes			2			68,395			69,000			67,815			69,000
	Commercial mortgage-backed securitization debt (consolidated VIE)			3			219,043			219,043			395,027			395,027
	Collateralized loan obligation securitization debt (consolidated VIE)			3			308,703			308,703			—			—
Embedded conversion option
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of change in the embedded conversion option classified as Level III	The following table summarizes the change in the embedded conversion option classified as Level III for the year ended December 31, 2013 ($ in thousands):
			As of and for the year ended
			December 31, 2013
	Beginning balance, as of December 31, 2012		$	(1,825	)
	Unrealized gain on the embedded conversion option (1)			1,739
	Reclassification of additional paid-in capital			86
	Ending balance, as of December 31, 2013		$	—
	-1	The unrealized gain on the embedded conversion option is included within changes in fair value of derivatives in the consolidated statements of operations for the year ended December 31, 2013. The Company reclassified certain prior quarter and prior year amounts included within interest expense related to the fair value of the derivative to conform to the Company's presentation for the year ended December 31, 2013.

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2014
RELATED PARTY TRANSACTIONS
Summary of related-party costs incurred by the Company and amounts payable to the Manager	Summarized below are the related party costs incurred by the Company, including ACRE Capital, for the years ended December 31, 2014, 2013 and 2012 and amounts payable to the Company's Manager as of December 31, 2014 and 2013 ($ in thousands):
		Incurred						Payable
		For the year ended						As of
		December 31,						December 31,
	$ in thousands	2014		2013		2012		2014		2013
	Affiliate Payments
	Management fees	$	5,916	$	4,241	$	1,665	$	1,471	$	1,497
	General and administrative expenses		4,000		3,610		1,602		1,000		1,000
	Direct costs		861		769		643		264		299
	Other		—		—		17		—		—
		$	10,777	$	8,620	$	3,927	$	2,735	$	2,796

DIVIDENDS_AND_DISTRIBUTIONS_Ta

DIVIDENDS AND DISTRIBUTIONS (Tables)	12 Months Ended
	Dec. 31, 2014
DIVIDENDS AND DISTRIBUTIONS
Summary of the Company's dividends declared	The following table summarizes the Company's dividends declared during the years ended December 31, 2014 and 2013 ($ in thousands, except per share data):
	Date declared	Record date		Payment date		Per share		Total amount
						amount
	November 10, 2014		December 31, 2014		January 15, 2015	$	0.25	$	7,147
	August 6, 2014		September 30, 2014		October 15, 2014		0.25		7,151
	May 7, 2014		June 30, 2014		July 16, 2014		0.25		7,151
	March 17, 2014		March 31, 2014		April 16, 2014		0.25		7,147
	Total cash dividends declared for the year ended December 31, 2014					$	1.00	$	28,596
	November 13, 2013		December 31, 2013		January 22, 2014	$	0.25	$	7,127
	August 7, 2013		September 30, 2013		October 17, 2013		0.25		7,119
	May 15, 2013		June 28, 2013		July 18, 2013		0.25		6,822
	March 14, 2013		April 08, 2013		April 18, 2013		0.25		2,317
	Total cash dividends declared for the year ended December 31, 2013					$	1.00	$	23,385

VARIABLE_INTEREST_ENTITIES_Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2014
VARIABLE INTEREST ENTITIES
Schedule of carrying value and maximum exposure of unconsolidated VIEs	The following table presents the carrying value and the maximum exposure of unconsolidated VIEs as of December 31, 2014 and 2013 ($ in thousands):
		As of December 31,
		2014		2013
	Carrying value	$	38,982	$	4,804
	Maximum exposure to loss	$	39,608	$	4,850

ACQUISITIONS_Tables

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2014
ACQUISITIONS
Summary of the amounts of identified assets acquired and liabilities assumed	The following table summarizes the purchase price allocation recorded as of the Acquisition Date, including retrospective adjustments during the measurement period ($ in thousands):
	Assets acquired:
	Cash		$	1,157
	Restricted cash			15,586
	Loans held for sale			22,154
	Mortgage servicing rights			61,236
	Intangible assets			5,000
	Derivative assets			182
	Risk-sharing indemnification			3,703
	Other assets			4,748
	Total assets acquired		$	113,766
	Liabilities assumed:
	Warehouse lines of credit		$	14,472
	Allowance for loss sharing			18,386
	Accounts payable and accrued expenses			4,748
	Other liabilities(1)			10,795
	Total liabilities assumed		$	48,401
	Net Assets Acquired		$	65,365
	-1	Other liabilities include a $6 million payable incurred in connection with the close of the transaction.

SEGMENTS_Tables

SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
SEGMENTS
Schedule of the Company's results of total assets by business segment	The table below presents the Company's total assets as of December 31, 2014 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Cash and cash equivalents		$	15,045		$	1,506		$	16,551
	Restricted cash			49,679			16,442			66,121
	Loans held for investment			1,462,584			—			1,462,584
	Loans held for sale, at fair value			—			203,006			203,006
	Mortgage servicing rights, at fair value			—			58,889			58,889
	Other assets			45,457			15,045			60,502
	Total Assets		$	1,572,765		$	294,888		$	1,867,653
	The table below presents the Company's total assets as of December 31, 2013 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Cash and cash equivalents		$	14,444		$	5,656		$	20,100
	Restricted cash			3,036			13,918			16,954
	Loans held for investment			958,495			—			958,495
	Loans held for sale, at fair value			84,769			4,464			89,233
	Mortgage servicing rights, at fair value			—			59,640			59,640
	Other assets			16,632			15,861			32,493
	Total Assets		$	1,077,376		$	99,539		$	1,176,915
Schedule of Company's consolidated net income by business segment
	The table below presents the Company's consolidated net income for the year ended December 31, 2014 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Net interest margin:
	Interest income from loans held for investment		$	70,495		$	—		$	70,495
	Interest expense			(33,637	)		—	-2		(33,637	)
	Net interest margin			36,858	-1		—			36,858
	Mortgage banking revenue:
	Servicing fees, net			—			16,399			16,399
	Gains from mortgage banking activities			—			17,492			17,492
	Provision for loss sharing			—			1,364			1,364
	Change in fair value of mortgage servicing rights			—			(7,650	)		(7,650	)
	Mortgage banking revenue			—			27,605			27,605
	Gain on sale of loans			680			—			680
	Total revenue			37,538			27,605			65,143
	Expenses:
	Management fees to affiliate			5,440			476			5,916
	Professional fees			2,686			1,047			3,733
	Compensation and benefits			—			18,649			18,649
	Acquisition and investment pursuit costs			20			—			20
	General and administrative expenses			3,003			6,249			9,252
	General and administrative expenses reimbursed to affiliate			3,400			600			4,000
	Total expenses			14,549			27,021			41,570
	Income from operations before income taxes			22,989			584			23,573
	Income tax expense (benefit)			240			(1,283	)		(1,043	)
	Net income attributable to ACRE			22,749			1,867			24,616
	Net income attributable to non-controlling interests			(220	)		—			(220	)
	Net income attributable to common stockholders		$	22,529		$	1,867		$	24,396
	-1	Revenues from one of the Company's borrowers in the principal lending segment represented approximately 15.8% of the Company's consolidated revenues for the year ended December 31, 2014.
	-2	Interest expense does not include interest expense related to the intercompany note between the two business segments presented, mortgage banking (conducted through ACRE Capital Holdings LLC) as borrower and principal lending (conducted through the Company) as lender, as described in Note 13. Interest expense related to the intercompany note is eliminated in the consolidated financial statements of the Company. If interest expense related to the intercompany note were included, interest expense and net loss for the year ended December 31, 2014 would have been $3.7 million and $1.8 million, respectively, for mortgage banking.
	The table below presents the Company's consolidated net income for the year ended December 31, 2013 by business segment ($ in thousands):
			Principal			Mortgage			Total
			Lending			Banking
	Net interest margin:
	Interest income from loans held for investment		$	37,600		$	—		$	37,600
	Interest expense			(14,973	)		—	-2		(14,973	)
	Net interest margin			22,627	-1		—			22,627
	Mortgage banking revenue:
	Servicing fees, net			—			5,754			5,754
	Gains from mortgage banking activities			—			5,019			5,019
	Provision for loss sharing			—			(6	)		(6	)
	Change in fair value of mortgage servicing rights			—			(2,697	)		(2,697	)
	Mortgage banking revenue			—			8,070			8,070
	Gain on sale of loans			—			1,333			1,333
	Total revenue			22,627			9,403			32,030
	Expenses:
	Management fees to affiliate			4,125			116			4,241
	Professional fees			2,447			477			2,924
	Compensation and benefits			—			5,456			5,456
	Acquisition and investment pursuit costs			4,079			—			4,079
	General and administrative expenses			2,430			1,525			3,955
	General and administrative expenses reimbursed to affiliate			3,394			216			3,610
	Total expenses			16,475			7,790			24,265
	Changes in fair value of derivatives			1,739			—			1,739
	Income from operations before gain on acquisition and income taxes			7,891			1,613			9,504
	Gain on acquisition			4,438			—			4,438
	Income from operations before income taxes			12,329			1,613			13,942
	Income tax expense (benefit)			—			176			176
	Net income attributable to common stockholders		$	12,329		$	1,437		$	13,766
	-1	Revenues from one of the Company's borrowers in the principal lending segment represented approximately 13.0% of the Company's consolidated revenues for the year ended December 31, 2013.
	-2	Interest expense does not include interest expense related to the intercompany note between the two business segments presented, mortgage banking (conducted through ACRE Capital Holdings LLC) as borrower and principal lending (conducted through the Company) as lender, as described in Note 13. Interest expense related to the intercompany note is eliminated in the consolidated financial statements of the Company. If interest expense related to the intercompany note were included, interest expense and net income for the year ended December 31, 2013 would have been $1.2 million and $244 thousand, respectively, for mortgage banking.

QUARTERLY_FINANCIAL_DATA_Table

QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2014
QUARTERLY FINANCIAL DATA
Summary of the entity's quarterly financial results	The following table summarizes the Company's quarterly financial results for each quarter of the years ended December 31, 2014 and 2013 (amounts in thousands, except per share data):
			For the three month period ended,
			March 31		June 30		September 30			December 31
	2014:00:00
	Total revenue(1)		$	13,758	$	17,413	$	13,180		$	20,792
	Net income		$	4,755	$	6,638	$	4,102		$	9,121
	Net income attributable to common stockholders		$	4,755	$	6,638	$	4,102		$	8,901
	Net income per common share-Basic		$	0.17	$	0.23	$	0.14		$	0.31
	Net income per common share-Diluted		$	0.17	$	0.23	$	0.14		$	0.31
	2013:00:00
	Total revenue(1)		$	3,774	$	4,708	$	10,915		$	12,633
	Net income		$	327	$	3,265	$	6,884	-2	$	3,290
	Net income attributable to common stockholders		$	327	$	3,265	$	6,884	-2	$	3,290
	Net income per common share-Basic		$	0.04	$	0.32	$	0.25	-2	$	0.12
	Net income per common share-Diluted		$	0.04	$	0.32	$	0.25	-2	$	0.12
	-1	As of December 31, 2014, the Company no longer presents other interest expense in its consolidated statements of operations. Total revenue has been adjusted from the previously filed Forms 10-Q as of March 31, June 30 and September 30, 2014 and 2013, respectively, and the previously filed Form 10-K as of December 31, 2013 to reflect the reclassification of other interest expense. Other interest expense related to the 2015 Convertible Notes has been reclassified into interest expense, other interest expense related to the Warehouse Lines of Credit has been reclassified into gains from mortgage banking activities and other interest expense related to escrow accounts has been reclassified into servicing fees, net in the consolidated statements of operations. The impact of these reclasses is a decrease in total revenue by $1.7 million, $1.8 million and $1.9 million, respectively, for the three month periods ending March 31, June 30 and September 30, 2014, respectively. The impact of these reclasses is a decrease in total revenue by $1.6 million, $1.5 million, $1.6 million and $1.9 million, respectively, for the three month periods ending March 31, June 30, September 30 and December 31, 2013, respectively. Additionally, total revenue has been adjusted from the previously filed Form 10-Q as of September 30, 2013 to reflect a $516 thousand reclass between gains from mortgage banking activities and compensation and benefits.
	-2	Net income and net income per common share have been adjusted from the previously filed Form 10-Q as of September 30, 2013 to reflect adjustments made during the measurement period to provisional amounts recognized at the Acquisition Date.

COSTS_ASSOCIATED_WITH_RESTRUCT1

COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2014
COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES
Schedule of reconciliation of the liability attributable to restructuring costs incurred in the mortgage banking segment	The table below presents a reconciliation of the liability attributable to restructuring costs incurred in the mortgage banking segment as of December 31, 2014 ($ in thousands):
		Employee Termination Costs
	Beginning balance, as of January 1, 2014	$	—
	Accruals		799
	Payments		(574	)
	Ending balance, as of December 31, 2014	$	225

ORGANIZATION_Details

ORGANIZATION (Details) (Maximum)	12 Months Ended
	Dec. 31, 2014
Maximum
ORGANIZATION
Term of debt	10 years

SIGNIFICANT_ACCOUNTING_POLICIE3

SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item	item
Segment Reporting.
Number of reportable segments as a result of the Acquisition	2	2
Loans Held for Investment
Impairments of loan held for investment	$0	$0	$0

SIGNIFICANT_ACCOUNTING_POLICIE4

SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Loans held for sale
Loans held for sale	$203,006	$89,233
Loans held for sale, net of deferred fees		84,769
Revenue Recognition
Interest and Fee Income, Loans and Leases Held-in-portfolio, Total	70,495	37,600	9,278
Interest income from non-controlling interest investment held by third parties	-307
Interest income from loans held for investment, excluding non-controlling interests	70,188
ACRE
Loans held for sale
Number of loans held for sale		1
Loans held for sale		84,769
Loans held for sale, net of deferred fees		89,200
Revenue Recognition
Interest and Fee Income, Loans and Leases Held-in-portfolio, Total	$70,495	$37,600
ACRE Capital
Loans held for sale
Holding period of mortgage loans held for sale	30 days

SIGNIFICANT_ACCOUNTING_POLICIE5

SIGNIFICANT ACCOUNTING POLICIES (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 19, 2012
Convertible Senior Notes
Interest expense	$33,637	$14,973	$2,558
Income Taxes
Period of disqualification of REIT status	4 years
Business Combinations
Maximum measurement period after the transaction date for subsequent adjustments	1 year
Secured funding agreements and securitizations debt
Convertible Senior Notes
Interest expense	27,299	8,774	2,342
2015 Convertible Notes
Convertible Senior Notes
Interest rate (as a percent)				7.00%
Interest expense	$6,338	$6,199	$216

SIGNIFICANT_ACCOUNTING_POLICIE6

SIGNIFICANT ACCOUNTING POLICIES (Details 4)	12 Months Ended
	Dec. 31, 2014
TRS'
Income Taxes
Ownership percentage	100.00%
Excise tax rate (as a percent)	100.00%
ACRC U TRS
Income Taxes
Ownership percentage	100.00%
Excise tax rate (as a percent)	100.00%
ACRE Capital | ACRC W TRS
Income Taxes
Ownership percentage	100.00%
Excise tax rate (as a percent)	100.00%

LOANS_HELD_FOR_INVESTMENT_Deta

LOANS HELD FOR INVESTMENT (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	item
LOANS HELD FOR INVESTMENT.
Number of loans originated or co-originated	46
Number of loans repaid	11
Amount funded	$717,400,000
Amount of repayments	210,000,000
Percentage of Loans Held for Investment Having LIBOR Floors	68.70%
Weighted average floor (as a percent)	0.29%
Loans held for investment
Total Commitment	1,600,000,000
Loans held for investment	1,462,584,000	958,495,000	353,500,000
Carrying Amount	1,384,975,000	958,495,000
Outstanding Principal	1,395,281,000	965,436,000
Interest Rate (as a percent)	5.50%	5.50%
Unleveraged Effective Yield (as a percent)	6.00%	6.00%
Remaining Life	2 years 9 months 18 days	2 years 6 months
Unleveraged effective yield dispositions, early prepayments or defaults	0
Non-controlling interest investment
Loans held for investment
Loans held for investment	-77,609,000
Investment portfolio
Loans held for investment
Loans held for investment	1,384,975,000
Senior mortgage loans
Loans held for investment
Carrying Amount	1,156,476,000	867,578,000
Outstanding Principal	1,164,055,000	873,781,000
Interest Rate (as a percent)	4.50%	5.10%
Unleveraged Effective Yield (as a percent)	5.00%	5.60%
Remaining Life	2 years 1 month 6 days	2 years 4 months 24 days
Subordinated debt and preferred equity investments
Loans held for investment
Carrying Amount	228,499,000	90,917,000
Outstanding Principal	$231,226,000	$91,655,000
Interest Rate (as a percent)	10.30%	9.80%
Unleveraged Effective Yield (as a percent)	10.70%	10.20%
Remaining Life	6 years 1 month 6 days	3 years 7 months 6 days

LOANS_HELD_FOR_INVESTMENT_Deta1

LOANS HELD FOR INVESTMENT (Details 2) (USD $)	12 Months Ended		1 Months Ended	3 Months Ended	0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Sep. 02, 2014	Dec. 22, 2014	Feb. 28, 2014
Loans held for investment
Total Commitment	$1,600,000,000
Outstanding Principal	1,395,281,000	965,436,000
Carrying Amount	1,384,975,000	958,495,000
Fixed interest rate (as a percent)	5.50%	5.50%
Unleveraged Effective Yield (as a percent)	6.00%	6.00%
Unleveraged effective yield dispositions, early prepayments or defaults	0
Minimum
Loans held for investment
Number of extension options	1
Maximum
Loans held for investment
Number of extension options	2
Office Building in CA
Loans held for investment
Outstanding Principal	75,000,000
Carrying Amount	74,500,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.20%
Base rate	30-day LIBOR
Retail Property in IL
Loans held for investment
Outstanding Principal	70,000,000
Carrying Amount	69,500,000
Basis spread (as a percent)	4.25%
Unleveraged Effective Yield (as a percent)	4.90%
Base rate	30-day LIBOR
Office Building in TX
Loans held for investment
Outstanding Principal	61,700,000
Carrying Amount	60,900,000
Basis spread (as a percent)	5.00%
Unleveraged Effective Yield (as a percent)	6.10%
Base rate	30-day LIBOR
Multifamily GA
Loans held for investment
Outstanding Principal	45,800,000
Carrying Amount	45,800,000
Basis spread (as a percent)	4.95%
Unleveraged Effective Yield (as a percent)	5.70%
Base rate	30-day LIBOR
Mixed use in IL
Loans held for investment
Outstanding Principal	45,100,000
Carrying Amount	44,400,000
Basis spread (as a percent)	3.60%
Unleveraged Effective Yield (as a percent)	4.20%
Base rate	30-day LIBOR
Multifamily TX
Loans held for investment
Outstanding Principal	44,700,000
Carrying Amount	44,600,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.50%
Base rate	30-day LIBOR
Multifamily GA
Loans held for investment
Outstanding Principal	38,400,000
Carrying Amount	38,400,000
Basis spread (as a percent)	4.95%
Unleveraged Effective Yield (as a percent)	5.70%
Base rate	30-day LIBOR
Industrial in MO and KS
Loans held for investment
Outstanding Principal	38,000,000
Carrying Amount	37,700,000
Basis spread (as a percent)	4.30%
Unleveraged Effective Yield (as a percent)	5.10%
Base rate	30-day LIBOR
Multifamily NY
Loans held for investment
Outstanding Principal	37,800,000
Carrying Amount	37,500,000
Basis spread (as a percent)	5.00%
Unleveraged Effective Yield (as a percent)	6.10%
Base rate	30-day LIBOR
Multifamily TX
Loans held for investment
Outstanding Principal	35,400,000
Carrying Amount	35,300,000
Basis spread (as a percent)	4.70%
Unleveraged Effective Yield (as a percent)	5.60%
Base rate	30-day LIBOR
Multifamily FL
Loans held for investment
Outstanding Principal	35,200,000
Carrying Amount	35,000,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.70%
Base rate	30-day LIBOR
Multifamily TX
Loans held for investment
Outstanding Principal	34,900,000
Carrying Amount	34,800,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.50%
Base rate	30-day LIBOR
Office Building in FL
Loans held for investment
Outstanding Principal	32,800,000
Carrying Amount	32,600,000
Basis spread (as a percent)	3.65%
Unleveraged Effective Yield (as a percent)	4.00%
Base rate	30-day LIBOR
Office Building in OH
Loans held for investment
Outstanding Principal	30,000,000
Carrying Amount	29,900,000
Unleveraged Effective Yield (as a percent)	6.00%
Office Building in OH | Minimum
Loans held for investment
Basis spread (as a percent)	5.35%
Base rate	30-day LIBOR
Office Building in OH | Maximum
Loans held for investment
Basis spread (as a percent)	5.00%
Base rate	30-day LIBOR
Retail Property in IL
Loans held for investment
Outstanding Principal	29,000,000
Carrying Amount	28,700,000
Basis spread (as a percent)	3.25%
Unleveraged Effective Yield (as a percent)	3.90%
Base rate	30-day LIBOR
Office Building in CA
Loans held for investment
Outstanding Principal	27,700,000
Carrying Amount	27,500,000
Basis spread (as a percent)	4.50%
Unleveraged Effective Yield (as a percent)	5.20%
Base rate	30-day LIBOR
Office Building in OR
Loans held for investment
Outstanding Principal	27,400,000
Carrying Amount	27,100,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.40%
Base rate	30-day LIBOR
Multifamily NY
Loans held for investment
Outstanding Principal	27,000,000
Carrying Amount	26,700,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.40%
Base rate	30-day LIBOR
Multifamily TX
Loans held for investment
Outstanding Principal	27,200,000
Carrying Amount	27,100,000
Basis spread (as a percent)	3.65%
Unleveraged Effective Yield (as a percent)	4.40%
Base rate	30-day LIBOR
Office Building in KS
Loans held for investment
Outstanding Principal	25,500,000
Carrying Amount	25,400,000
Basis spread (as a percent)	5.00%
Unleveraged Effective Yield (as a percent)	5.80%
Base rate	30-day LIBOR
Mixed use in NY 1
Loans held for investment
Outstanding Principal	26,000,000
Carrying Amount	25,900,000
Basis spread (as a percent)	4.25%
Unleveraged Effective Yield (as a percent)	4.80%
Base rate	30-day LIBOR
Multifamily TX
Loans held for investment
Outstanding Principal	24,900,000
Carrying Amount	24,700,000
Basis spread (as a percent)	3.65%
Unleveraged Effective Yield (as a percent)	4.40%
Base rate	30-day LIBOR
Multifamily GA
Loans held for investment
Outstanding Principal	23,500,000
Carrying Amount	23,500,000
Basis spread (as a percent)	4.95%
Unleveraged Effective Yield (as a percent)	5.70%
Base rate	30-day LIBOR
Multifamily AZ
Loans held for investment
Outstanding Principal	21,800,000
Carrying Amount	21,800,000
Basis spread (as a percent)	4.25%
Unleveraged Effective Yield (as a percent)	5.90%
Base rate	30-day LIBOR
Multifamily GA
Loans held for investment
Outstanding Principal	21,600,000
Carrying Amount	21,400,000
Basis spread (as a percent)	3.85%
Unleveraged Effective Yield (as a percent)	4.80%
Base rate	30-day LIBOR
Industrial in CA
Loans held for investment
Outstanding Principal	19,900,000
Carrying Amount	19,700,000
Basis spread (as a percent)	5.25%
Unleveraged Effective Yield (as a percent)	6.10%
Base rate	30-day LIBOR
Industrial in VA
Loans held for investment
Outstanding Principal	19,000,000
Carrying Amount	18,900,000
Basis spread (as a percent)	5.25%
Unleveraged Effective Yield (as a percent)	6.40%
Base rate	30-day LIBOR
Office Building in CO
Loans held for investment
Outstanding Principal	16,800,000
Carrying Amount	16,600,000
Basis spread (as a percent)	3.95%
Unleveraged Effective Yield (as a percent)	4.60%
Base rate	30-day LIBOR
Office Building in CA
Loans held for investment
Outstanding Principal	15,600,000
Carrying Amount	15,500,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.50%
Base rate	30-day LIBOR
Office Building in CA
Loans held for investment
Outstanding Principal	14,800,000
Carrying Amount	14,700,000
Basis spread (as a percent)	4.50%
Unleveraged Effective Yield (as a percent)	5.30%
Base rate	30-day LIBOR
Multifamily NC
Loans held for investment
Outstanding Principal	14,900,000
Carrying Amount	14,800,000
Basis spread (as a percent)	4.00%
Unleveraged Effective Yield (as a percent)	4.80%
Base rate	30-day LIBOR
Multifamily NY
Loans held for investment
Outstanding Principal	13,700,000
Carrying Amount	13,600,000
Basis spread (as a percent)	3.85%
Unleveraged Effective Yield (as a percent)	4.40%
Base rate	30-day LIBOR
Multifamily FL
Loans held for investment
Outstanding Principal	13,700,000
Carrying Amount	13,600,000
Basis spread (as a percent)	3.80%
Unleveraged Effective Yield (as a percent)	4.60%
Base rate	30-day LIBOR
Mixed use in NY 2
Loans held for investment
Outstanding Principal	12,600,000
Carrying Amount	12,400,000
Basis spread (as a percent)	3.95%
Unleveraged Effective Yield (as a percent)	4.70%
Base rate	30-day LIBOR
Multifamily FL
Loans held for investment
Outstanding Principal	11,200,000
Carrying Amount	11,100,000
Basis spread (as a percent)	3.75%
Unleveraged Effective Yield (as a percent)	4.60%
Base rate	30-day LIBOR
Multifamily FL
Loans held for investment
Outstanding Principal	10,900,000
Carrying Amount	10,800,000
Basis spread (as a percent)	3.80%
Unleveraged Effective Yield (as a percent)	4.60%
Base rate	30-day LIBOR
Office Building in FL
Loans held for investment
Outstanding Principal	47,300,000
Carrying Amount	47,300,000
Basis spread (as a percent)	5.25%
Unleveraged Effective Yield (as a percent)	5.40%
Base rate	30-day LIBOR
Period of extension options			2 years
Industrial in OH
Loans held for investment
Outstanding Principal	32,700,000
Carrying Amount	32,400,000
Basis spread (as a percent)	4.20%
Unleveraged Effective Yield (as a percent)	4.70%
Base rate	30-day LIBOR
Office Building in CA
Loans held for investment
Outstanding Principal	14,500,000
Carrying Amount	14,400,000
Basis spread (as a percent)	4.75%
Unleveraged Effective Yield (as a percent)	5.70%
Base rate	30-day LIBOR
Office Building in IL
Loans held for investment
Outstanding Principal	37,000,000
Carrying Amount	36,800,000
Fixed interest rate (as a percent)	8.75%
Unleveraged Effective Yield (as a percent)	9.10%
Multifamily NY
Loans held for investment
Total Commitment	36,600,000		31,300,000	31,300,000			93,800,000
Total Commitment			88,400,000	88,400,000
Outstanding Principal	33,300,000	28,400,000
Carrying Amount	33,100,000
Basis spread (as a percent)	8.07%	9.90%	7.46%	7.46%		8.07%
LIBOR Floor (as a percent)			0.17%
Unleveraged Effective Yield (as a percent)	8.50%
Base rate	30-day LIBOR	30-day LIBOR
Recognized gain on sale				680,000
Loans held for sale			80,400,000	80,400,000			85,200,000
Multifamily GA And FL
Loans held for investment
Outstanding Principal	34,800,000
Carrying Amount	34,200,000
Preferred return fixed interest rate (as a percent)	11.85%
Basis spread (as a percent)	11.85%
Unleveraged Effective Yield (as a percent)	12.30%
Base rate	30-day LIBOR
Preferred return base rate	30-day LIBOR
Multifamily GA And FL | PIK
Loans held for investment
Basis spread (as a percent)	2.00%
Office Building in GA
Loans held for investment
Outstanding Principal	14,300,000
Carrying Amount	14,300,000
Fixed interest rate (as a percent)	9.50%				9.50%
Unleveraged Effective Yield (as a percent)	9.50%
Mixed use in NY 3
Loans held for investment
Outstanding Principal	14,600,000
Carrying Amount	14,500,000
Fixed interest rate (as a percent)	11.50%
Unleveraged Effective Yield (as a percent)	11.90%
Mixed use in NY 3 | PIK
Loans held for investment
Fixed interest rate (as a percent)	11.50%
Basis spread (as a percent)	9.00%
Multifamily TX
Loans held for investment
Outstanding Principal	4,900,000
Carrying Amount	4,800,000
Basis spread (as a percent)	11.00%
Unleveraged Effective Yield (as a percent)	11.60%
Base rate	30-day LIBOR
Preferred return base rate	30-day LIBOR
Multifamily TX | PIK
Loans held for investment
Basis spread (as a percent)	9.00%
Diversified Properties
Loans held for investment
Outstanding Principal	92,400,000
Carrying Amount	$90,800,000
Basis spread (as a percent)	10.95%
Unleveraged Effective Yield (as a percent)	11.40%

LOANS_HELD_FOR_INVESTMENT_Deta2

LOANS HELD FOR INVESTMENT (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Change in the activity of loan portfolio
Balance at the beginning of the period	$958,495	$353,500
Initial funding	637,222	640,384
Receipt of origination fee, net of costs	-7,026	-6,058
Additional funding	80,215	35,223
Amortizing payments		-150
Loan payoffs	-209,983	-66,770
Origination fee accretion	3,661	2,366	400
Balance at the end of the period	1,462,584	958,495	353,500
Impairment charges recognized	$0	$0	$0

MORTGAGE_SERVICING_RIGHTS_Deta

MORTGAGE SERVICING RIGHTS (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	item	item
MORTGAGE SERVICING RIGHTS
Number of loans held under MSR portfolio	976	1,000
Unpaid principal amount on servicing assets	$4,100,000,000	$3,700,000,000
Activity related to MSRs
Beginning balance	59,640,000	61,236,000
MSRs acquired in asset acquisition	1,259,000
Additions, following sale of loan	7,853,000	2,385,000
Change in fair value	-7,650,000	-2,697,000
Prepayments and write-offs	-2,213,000	-1,284,000
Carrying value	58,889,000	59,640,000
Discount rate (as a percent)	1.00%
Change in fair value of ACRE Capital's MSRs outstanding due to increase (decrease) in weighted average discount rate	$1,800,000	$1,800,000

INTANGIBLE_ASSETS_Details

INTANGIBLE ASSETS (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets
Carrying value	$6	$5
Impairment charges	0	0
Freddie Mac Program Plus license
Intangible Assets
Carrying value	$1

DEBT_Details

DEBT (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Aug. 13, 2014	Nov. 25, 2014	Jul. 31, 2014	Nov. 30, 2014
Funding agreements
Total Commitment	1,337,243,000	$635,000,000
Outstanding balance	745,964,000
Outstanding Balance	552,799,000	264,419,000
Secured revolving funding facility | Maximum
Funding agreements
Interest rate margin (as a percent)	2.50%
March 2014 CNB Facility
Funding agreements
Total Commitment	50,000,000
Outstanding Balance	42,000,000
July 2014 CNB Facility
Funding agreements
Total Commitment	75,000,000
Outstanding Balance	75,000,000
July 2014 CNB Facility | Minimum
Funding agreements
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Wells Fargo Facility
Funding agreements
Total Commitment	225,000,000	225,000,000
Outstanding Balance	120,766,000	166,934,000
Wells Fargo Facility | Secured revolving funding facility
Funding agreements
Total Commitment	225,000,000
Variable interest basis	30 day LIBOR
Non-utilization fee on average available balance (as a percent)	0.25%
Non-utilization threshold percentage (as a percent)	75.00%
Non-utilization /Commitment fee	213,000	218,000
Number of extension periods available for maturity date	2
Extension period of maturity date	12 months
Outstanding Balance	120,800,000	166,900,000
Wells Fargo Facility | Secured revolving funding facility | Minimum
Funding agreements
Interest rate margin (as a percent)	2.00%
Specified amount for computing the tangible net worth to be maintained	135,500,000
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Wells Fargo Facility | Secured revolving funding facility | Maximum
Funding agreements
Interest rate margin (as a percent)	-2.50%
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
Wells Fargo Facility | Secured funding facility | Minimum
Funding agreements
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
December 2011 Citibank facility
Funding agreements
Total Commitment	250,000,000	125,000,000
Outstanding Balance		97,485,000
December 2011 Citibank facility | Secured revolving funding facility
Funding agreements
Variable interest basis	30 day LIBOR
Variable interest rate floor (as a percent)	0.50%
Outstanding Balance	97,500,000
December 2011 Citibank facility | Secured revolving funding facility | Minimum
Funding agreements
Interest rate margin (as a percent)	2.25%
December 2011 Citibank facility | Secured revolving funding facility | Maximum
Funding agreements
Interest rate margin (as a percent)	2.75%
December 2014 Citibank facility
Funding agreements
Total Commitment	250,000,000
Outstanding Balance	93,432,000
December 2014 Citibank facility | Secured revolving funding facility
Funding agreements
Variable interest basis	30 day LIBOR
Non-utilization fee on average available balance (as a percent)	0.25%
Non-utilization /Commitment fee	316,000	164,000
Number of extension periods available for maturity date	3
Extension period of maturity date	12 months
Outstanding Balance	93,400,000
Liquidity to be maintained as a percentage of recourse indebtedness	5.00%
December 2014 Citibank facility | Secured revolving funding facility | Minimum
Funding agreements
Interest rate margin (as a percent)	2.00%
Amount of liquidity to be maintained	5,000,000
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
December 2014 Citibank facility | Secured revolving funding facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
Amount of liquidity to be maintained	10,000,000
Fixed charge coverage ratio	1.25
December 2014 Citibank facility | Secured funding facility
Funding agreements
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
Capital One Facility
Funding agreements
Total Commitment	100,000,000	100,000,000
Capital One Facility | Minimum
Funding agreements
Ratio of total debt to tangible net worth	3
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
Capital One Facility | Secured revolving funding facility
Funding agreements
Outstanding Balance	0	0
Capital One Facility | Secured funding facility
Funding agreements
Total Commitment	100,000,000
Variable interest basis	30 day LIBOR
Extension period of maturity date	12 months
Capital One Facility | Secured funding facility | Minimum
Funding agreements
Interest rate margin (as a percent)	2.00%
Capital One Facility | Secured funding facility | Maximum
Funding agreements
Interest rate margin (as a percent)	3.50%
Fannie Mae | ASAP Line of Credit | ACRE Capital
Funding agreements
Total Commitment	80,000,000	105,000,000
Outstanding Balance	58,469,000	0
Number of separate installments received	2
Bank of America | BAML Line of Credit | ACRC Lender C LLC
Funding agreements
Total Commitment	180,000,000	80,000,000		180,000,000
Variable interest basis	LIBOR
Interest rate margin (as a percent)	1.60%
Non-utilization /Commitment fee	84,000	26,000
Outstanding Balance	134,696,000	0
Maximum advances as a percentage of principal amounts of the mortgage loans originated by acquiree	100.00%
Amended Citibank Facility | Secured revolving funding facility
Funding agreements
Number of mortgage loans with LIBOR floor	1
City National Bank | March 2014 CNB Facility
Funding agreements
Total Commitment	50,000,000
Non-utilization fee on average available balance (as a percent)	0.38%
Non-utilization /Commitment fee	82,000
Number of extension periods available for maturity date	1
Extension period of maturity date	12 months
Outstanding Balance	42,000,000
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
City National Bank | March 2014 CNB Facility | LIBOR for a one, two, three, six or 12-month
Funding agreements
Variable interest basis	LIBOR for a one, two, three, six or12-month
Interest rate margin (as a percent)	3.00%
City National Bank | March 2014 CNB Facility | Federal funds rate
Funding agreements
Variable interest basis	federal funds rate
Interest rate margin (as a percent)	0.50%
City National Bank | March 2014 CNB Facility | One-month LIBOR
Funding agreements
Variable interest basis	one month LIBOR
Interest rate margin (as a percent)	1.00%
City National Bank | March 2014 CNB Facility | Base rate
Funding agreements
Variable interest basis	base rate
Interest rate margin (as a percent)	1.25%
City National Bank | March 2014 CNB Facility | Minimum
Funding agreements
Interest rate (as a percent)	3.00%
Facility used on average (as a percent)	75.00%
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
City National Bank | March 2014 CNB Facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
City National Bank | July 2014 CNB Facility
Funding agreements
Total Commitment					75,000,000
Non-utilization fee on average available balance (as a percent)	0.13%
Non-utilization /Commitment fee	15,000
Number of extension periods available for maturity date	1
Extension period of maturity date	12 months
Outstanding Balance	75,000,000
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
City National Bank | July 2014 CNB Facility | LIBOR for a one, two, three, six or 12-month
Funding agreements
Variable interest basis	LIBOR for a one, two, three, six or 12-month
Interest rate margin (as a percent)	1.50%
City National Bank | July 2014 CNB Facility | Federal funds rate
Funding agreements
Variable interest basis	federal funds rate
Interest rate margin (as a percent)	0.50%
City National Bank | July 2014 CNB Facility | One-month LIBOR
Funding agreements
Variable interest basis	one month LIBOR
Interest rate margin (as a percent)	1.00%
City National Bank | July 2014 CNB Facility | Base rate
Funding agreements
Variable interest basis	base rate
Interest rate margin (as a percent)	0.25%
City National Bank | July 2014 CNB Facility | Minimum
Funding agreements
Interest rate (as a percent)	1.50%
Facility used on average (as a percent)	75.00%
Fixed charge coverage ratio	1.25
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
City National Bank | July 2014 CNB Facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
Met Life
Funding agreements
Total Commitment	180,000,000
Outstanding Balance	144,673,000
Met Life | Revolving master repurchase facility
Funding agreements
Total Commitment			180,000,000
Variable interest basis			30 day LIBOR
Interest rate margin (as a percent)			2.35%
Number of extension periods available for maturity date			2
Outstanding Balance	144,700,000
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
Met Life | Revolving master repurchase facility | Minimum
Funding agreements
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
Met Life | Revolving master repurchase facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
April 2014 UBS facility
Funding agreements
Total Commitment	140,000,000
Outstanding Balance	19,685,000
April 2014 UBS facility | Revolving master repurchase facility
Funding agreements
Total Commitment	140,000,000					195,000,000
Variable interest basis	one-month LIBOR
Interest rate margin (as a percent)	1.88%
Outstanding Balance	19,700,000
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
April 2014 UBS facility | Revolving master repurchase facility | Minimum
Funding agreements
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%
April 2014 UBS facility | Revolving master repurchase facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
December 2014 UBS facility
Funding agreements
Total Commitment	57,243,000
Outstanding Balance	57,243,000
December 2014 UBS facility | Global master repurchase facility
Funding agreements
Total Commitment	57,200,000
Variable interest basis	one-month LIBOR
Interest rate margin (as a percent)	2.74%
Outstanding Balance	57,200,000
Period immediately preceding on the last date of the applicable reporting period for maintaining fixed charge coverage ratio	12 months
December 2014 UBS facility | Global master repurchase facility | Minimum
Funding agreements
Fixed charge coverage ratio	1.25
Percentage of net proceeds raised in all future equity issuances used for computing the tangible net worth to be maintained	80.00%
December 2014 UBS facility | Global master repurchase facility | Maximum
Funding agreements
Ratio of total debt to tangible net worth	4
Ratio of recourse debt to tangible net worth	3
Percentage of tangible net worth as of September 30, 2013 used for computing the tangible net worth to be maintained	80.00%

DEBT_Details_2

DEBT (Details 2) (USD $)	0 Months Ended	12 Months Ended		0 Months Ended
	Dec. 19, 2012	Dec. 31, 2014	Dec. 31, 2013	Jun. 26, 2013
Convertible Senior Notes
Carrying value of unsecured debt		$68,395,000	$67,815,000
Principal maturities of secured funding agreements and unsecured debt
2015		457,931,000
2016		192,675,000
2017		164,358,000
Total		814,964,000
Wells Fargo Facility
Principal maturities of secured funding agreements and unsecured debt
2015		120,766,000
Total		120,766,000
December 2014 Citibank facility
Principal maturities of secured funding agreements and unsecured debt
2016		93,432,000
Total		93,432,000
Met Life
Principal maturities of secured funding agreements and unsecured debt
2017		144,673,000
Total		144,673,000
April 2014 UBS facility
Principal maturities of secured funding agreements and unsecured debt
2017		19,685,000
Total		19,685,000
December 2014 UBS facility
Principal maturities of secured funding agreements and unsecured debt
2016		57,243,000
Total		57,243,000
March 2014 CNB Facility
Principal maturities of secured funding agreements and unsecured debt
2016		42,000,000
Total		42,000,000
July 2014 CNB Facility
Principal maturities of secured funding agreements and unsecured debt
2015		75,000,000
Total		75,000,000
2015 Convertible Notes
Convertible Senior Notes
Aggregate principal amount	69,000,000
Principle amount issued to initial purchasers	60,500,000
Amount issued to initial purchasers' exercise in full of their overallotment option	9,000,000
Principle amount issued to certain directors, officers and affiliates	8,500,000
Net proceeds	66,200,000
Initial purchasers' discount	2,100,000			1,500,000
Aggregate estimated offering expenses	2,800,000
Carrying value of unsecured debt		68,400,000	67,800,000
Interest rate (as a percent)	7.00%
Effective interest rate used to amortize the debt discount		9.40%	9.40%
Interest expense incurred		6,300,000	6,200,000
Initial conversion rate		53.6107
Principal amount used for debt instrument conversion ratio		1,000
Initial conversion price (in dollars per share)		$18.65
Regular quarterly dividends beyond which an adjustment will be made in conversion rate (in dollars per share)		$0.35
Initial value of derivative liability				1,700,000
Percentage of accretion of Original issue discount and associated costs				9.40%
Conversion option's cumulative value				86,000
Amount of sinking fund provided for debt		0
Repurchase price of debt instrument as percentage of principal amount		100.00%
Principal maturities of secured funding agreements and unsecured debt
2015		69,000,000
Total		69,000,000
2015 Convertible Notes | Maximum
Convertible Senior Notes
Initial conversion rate		61.6523
2015 Convertible Notes | Minimum
Convertible Senior Notes
Percentage of common stock issued on conversion without shareholder's approval				20.00%
ASAP Line of Credit
Principal maturities of secured funding agreements and unsecured debt
2015		58,469,000
Total		58,469,000
BAML Line of Credit
Principal maturities of secured funding agreements and unsecured debt
2015		134,696,000
Total		$134,696,000

ALLOWANCE_FOR_LOSS_SHARING_Det

ALLOWANCE FOR LOSS SHARING (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Summary of the Company's allowance for loss sharing
Beginning balance	$16,480,000	$18,386,000
Current period provision for loss sharing	-1,364,000	6,000
Settlements/Writeoffs	-2,767,000	-1,912,000
Ending balance	12,349,000	16,480,000
Fannie Mae DUS license
Allowance for loss sharing
Maximum quantifiable allowance for loss sharing	1,100,000,000	1,300,000,000
Maximum quantifiable recourse liability at risk pool	3,200,000,000	3,700,000,000
Maximum quantifiable recourse liability non-at risk pool	2,000,000	5,200,000
Fannie Mae master loss sharing agreement | Loss Level I
Allowance for loss sharing
Loss sharing on the basis of Pari Passu Loss Sharing (as a percent)	66.67%
Fannie Mae master loss sharing agreement | ACRE Capital
Allowance for loss sharing
Maximum period considered for increase in risk-sharing obligation if loan defaulted after purchase	12 months
Absorption of losses under certain limited circumstances (as a percent)	100.00%
Contributions for reimbursement obligation	494,000	1,900,000
Number of twelve months periods following closing date considered for reimbursement	3
Period following closing date considered for reimbursement	12 months
Percentage of amounts due and owing after closing date that sellers are obligated to fund directly (if permitted) or to reimburse	80.00%
Threshold limit of allowance for loss sharing pursuant to which sellers obligation arise to fund directly (if permitted) or to reimburse	2,000,000
Sellers obligations for the entire three (3) year period	$3,000,000
Period considered in determination of maximum sellers obligations	3 years
Delinquent period	60 days
Fannie Mae master loss sharing agreement | ACRE Capital | Loss Level I
Allowance for loss sharing
Loss sharing on the basis of Pari Passu Loss Sharing (as a percent)	33.33%
Maximum risk-sharing obligation as a percentage of original principal amount of the loan	33.33%
Fannie Mae master loss sharing agreement | ACRE Capital | Loss Level II
Allowance for loss sharing
Maximum risk-sharing obligation as a percentage of original principal amount of the loan	30.00%
Fannie Mae master loss sharing agreement | ACRE Capital | Loss Level III
Allowance for loss sharing
Maximum risk-sharing obligation as a percentage of original principal amount of the loan	40.00%

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
COMMITMENTS AND CONTINGENCIES
Total commitments	$1,565,117	$1,191,212
Less: funded commitments	-1,395,281	-1,050,674
Total unfunded commitments	$169,836	$140,538

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details 2) (ACRE Capital, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Loan Commitments
Commitments and Contingencies
Commitments	$249,803	$56,115
Commitments to fund loans
Commitments and Contingencies
Commitments	$51,109	$51,794

COMMITMENTS_AND_CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Lease Commitments
Rent expense	$983	$230
Future minimum payments under operating lease
2015	565
2016	790
2017	839
2018	839
2019	765
Thereafter	1,718
Total	$5,516
ACRE Capital | Maximum
Lease Commitments
Lease term	1 year
ACRE Capital | Minimum
Lease Commitments
Lease term	5 years

DERIVATIVES_Details

DERIVATIVES (Details) (USD $)	0 Months Ended	12 Months Ended
	Jun. 26, 2013	Dec. 31, 2014	Dec. 31, 2013
		item	item
2015 Convertible Notes | Minimum
Derivatives
Percentage of common stock issued on conversion without shareholder's approval	20.00%
Non-designated Hedges
Derivatives
Derivatives assets net of liabilities		$1,670,000	$3,527,000
Non-designated Hedges | Loan Commitments
Derivatives
Number of Instruments		36	20
Number of contracts entered into by the company		1	2
Notional amount		51,100,000	51,800,000
Non-designated Hedges | Loan Commitments | Other assets.
Derivatives
Derivatives in asset position, Fair Value		3,082,000	2,038,000
Non-designated Hedges | Forward sale commitments
Derivatives
Number of Instruments		36	20
Number of contracts entered into by the company		10	5
Notional amount		249,800,000	56,100,000
Non-designated Hedges | Forward sale commitments | Minimum
Derivatives
Maturity term		9 days	24 days
Non-designated Hedges | Forward sale commitments | Maximum
Derivatives
Maturity term		23 months	60 days
Non-designated Hedges | Forward sale commitments | Other assets.
Derivatives
Derivatives in asset position, Fair Value		116,000	272,000
Non-designated Hedges | Forward sale commitments | Other liabilities.
Derivatives
Derivatives in liability position, Fair Value		-1,528,000	-500,000
Non-designated Hedges | Right to acquire MSRs | Other assets.
Derivatives
Derivatives in asset position, Fair Value			$1,717,000

SERIES_A_CONVERTIBLE_PREFERRED1

SERIES A CONVERTIBLE PREFERRED STOCK (Details) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2013	Feb. 08, 2012
Series A convertible preferred stock
Proceeds from issuance of preferred stock	$5,723,000
Cash dividend paid on preferred stock	102,000
Accretion of redemption premium	572,000
Series A Preferred Stock
Series A convertible preferred stock
Authorized preferred stock classified as shares				600
Preferred stock, par value (in dollars per share)				$0.01
Preferred stock shares issued	114.4578
Proceeds from issuance of preferred stock	5,700,000
Cash dividend paid on preferred stock	102,000
Accretion of redemption premium	572,000
Value of preferred stock shares issued	$6,300,000
Percentage added to calculate redemption price	10.00%
Preferred stock, shares outstanding		0	0
Series A Preferred Stock | Issue date through December 31, 2012
Series A convertible preferred stock
Prevailing Dividend Rate (as a percent)	10.00%
Series A Preferred Stock | January 1, 2013 through December 31, 2013
Series A convertible preferred stock
Prevailing Dividend Rate (as a percent)	11.00%
Series A Preferred Stock | January 1, 2014 through December 31, 2014
Series A convertible preferred stock
Prevailing Dividend Rate (as a percent)	12.00%
Series A Preferred Stock | January 1, 2015 and thereafter
Series A convertible preferred stock
Prevailing Dividend Rate (as a percent)	13.00%

EQUITY_Details

EQUITY (Details) (USD $)	1 Months Ended			12 Months Ended
In Millions, except Share data, unless otherwise specified	Jul. 31, 2013	Jun. 30, 2013	31-May-12	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
EQUITY
Common shares issued	601,590	18,000,000	7,700,000	0	18,601,590	7,700,000
Common stock price (in dollars per share)	$13.50	$13.50	$18.50
Net proceeds from offering	$7.70	$234.60	$139		$242.30	$139
Number of additional shares of common stock to be purchased under the option granted to underwriters	2,700,000
Common stock shares sold in a private placement				0

EQUITY_Details_2

EQUITY (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 23, 2012
Equity Incentive Plan
Number of shares of common stock that may granted under the plan				690,000
Percentage of issued and outstanding shares of common stock eligible to be granted under the plan			7.50%
Restricted stock activity
Balance at the beginning of the period (in shares)	72,987
Granted (in shares)	100,315
Vested (in shares)	-42,011
Forfeited (in shares)	-20,377
Balance at the end of the period (in shares)	110,914	72,987
Future Anticipated Vesting Schedule
2015 (in shares)	22,570
2016 (in shares)	39,237
2017 (in shares)	834
Total (in shares)	62,641
Activity in the Company's vested and nonvested shares of restricted stock
Compensation expense included in compensation and benefits	$939,000	$524,000
Total fair value of shares vested	534,000	458,000
Total compensation cost related to non-vested awards that have not yet been recognized	1,100,000	967,000
Weighted-average period over which non-vested awards are expected to be recognized	2 years 7 months 6 days	2 years 2 months 1 day
Non-controlling interest
Noncontrolling Interest in Variable Interest Entity	77,932,000
ACRC KA Investor LLC
Non-controlling interest
Total equity of VIE	170,700,000
VIE equity owned by the company	92,800,000
Noncontrolling Interest in Variable Interest Entity	77,900,000
Restricted stock
Equity Incentive Plan
Shares Granted	220,384
Restricted stock | Maximum
Equity Incentive Plan
Award vesting period	4 years
Restricted stock | Minimum
Equity Incentive Plan
Award vesting period	1 year
Restricted stock | Directors
Restricted stock activity
Balance at the beginning of the period (in shares)	25,420
Granted (in shares)	29,688
Vested (in shares)	-31,290
Forfeited (in shares)	-2,494
Balance at the end of the period (in shares)	21,324	25,420
Future Anticipated Vesting Schedule
2015 (in shares)	16,320
2016 (in shares)	4,170
2017 (in shares)	834
Total (in shares)	21,324
Activity in the Company's vested and nonvested shares of restricted stock
Compensation expense included in compensation and benefits	445,000	408,000
Total fair value of shares vested	399,000	366,000
Weighted average grant date fair value	385,000	289,000
Restricted stock | Officer
Restricted stock activity
Balance at the beginning of the period (in shares)	17,186
Vested (in shares)	-6,250
Balance at the end of the period (in shares)	10,936	17,186
Future Anticipated Vesting Schedule
2015 (in shares)	6,250
2016 (in shares)	4,686
Total (in shares)	10,936
Activity in the Company's vested and nonvested shares of restricted stock
Compensation expense included in compensation and benefits	106,000	106,000
Total fair value of shares vested	79,000	92,000
Restricted stock | Employees
Restricted stock activity
Balance at the beginning of the period (in shares)	30,381
Granted (in shares)	70,627
Vested (in shares)	-4,471
Forfeited (in shares)	-17,883
Balance at the end of the period (in shares)	78,654	30,381
Future Anticipated Vesting Schedule
2016 (in shares)	30,381
Total (in shares)	30,381
Activity in the Company's vested and nonvested shares of restricted stock
Compensation expense included in compensation and benefits	388,000	10,000
Total fair value of shares vested	56,000
Weighted average grant date fair value	$944,000	$398,000
Restricted stock | May 1, 2012
Equity Incentive Plan
Shares Granted	35,135
Restricted stock | June 18, 2012
Equity Incentive Plan
Shares Granted	7,027
Restricted stock | July 9, 2012
Equity Incentive Plan
Shares Granted	25,000
Restricted stock | June 26, 2013
Equity Incentive Plan
Shares Granted	22,526
Restricted stock | November 25, 2013
Equity Incentive Plan
Shares Granted	30,381
Restricted stock | January 31, 2014
Equity Incentive Plan
Shares Granted	48,273
Restricted stock | February 26, 2014
Equity Incentive Plan
Shares Granted	12,030
Restricted stock | February 27, 2014
Equity Incentive Plan
Shares Granted	22,354
Restricted stock | June 24, 2014
Equity Incentive Plan
Shares Granted	17,658

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
EARNINGS PER SHARE
Net income (loss) attributable to common stockholders	$8,901	$4,102	$6,638	$4,755	$3,290	$6,884	$3,265	$327	$24,396	$13,766	$186
Divided by:
Basic weighted average shares of common stock outstanding (in shares)									28,459,309	18,989,500	6,532,706
Non-vested restricted stock									125,713	48,652	34,603
Diluted weighted average shares of common stock outstanding (in shares)									28,585,022	19,038,152	6,567,309
Basic earnings per common share	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.86	$0.72	$0.03
Diluted earnings per common share	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.85	$0.72	$0.03

INCOME_TAX_Details

INCOME TAX (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2014
Components of the company's income tax provision
Deferred	$93,000	$61,000
Total income tax expense (benefit)	-1,043,000	176,000
Deferred tax asset
Net operating loss carryforward	4,000,000
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Outstanding Balance	552,799,000	264,419,000
TRS'
Components of the company's income tax provision
Current	329,000	115,000
Deferred	-1,372,000	61,000
Total income tax expense (benefit)	-1,043,000	176,000
Deferred tax asset
Mortgage servicing rights	2,844,000	749,000
Net operating loss carryforward	1,465,000
Other temporary differences	1,055,000	125,000
Sub-total-deferred tax assets	5,364,000	874,000
Deferred tax liabilities
Basis difference in assets from acquisition of ACRE Capital	-2,654,000	-2,810,000
Components of gains from mortgage banking activities	-4,046,000	-893,000
Amortization of intangible assets	-170,000	-49,000
Sub-total-deferred tax liabilities	-6,870,000	-3,752,000
Net deferred tax liability	-1,506,000	-2,878,000
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Federal statutory rate (as a percent)	35.00%	35.00%
State income taxes (as a percent)	2.40%	5.70%
Federal benefit of state tax deduction (as a percent)	-0.80%	-2.00%
Effective tax rate (as a percent)	36.60%	38.70%
Reconciliation of the Company's federal income tax determined using the Company's statutory federal tax rate to the Company's reported income tax provision
Operating loss carryforward period	20 years
TRS' | Notes Receivable and Revolving Promissory Note Receivable Member
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Outstanding Balance	50,900,000	44,000,000
TRS' | Notes Receivable
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Capitalized amount	44,000,000
TRS' | Revolving Promissory Note
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Capitalized amount			$8,000,000
TRS' | Notes
Reconciliation of the Company's effective tax rate to the Company's statutory federal income tax rate
Number of Notes			2

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Levels in the fair value hierarchy into which the financial instruments were categorized
Loans held for sale	$203,006	$89,233
Transfer of asset from level 1 to level 2	0	0
Transfer of asset from level 2 to level 1	0	0
Transfer of liabilities from level 1 to level 2	0	0
Transfer of liabilities from level 2 to level 1	0	0
Recurring basis | Level II
Levels in the fair value hierarchy into which the financial instruments were categorized
Loans held for sale	203,006	89,233
Recurring basis | Level III | Mortgage servicing rights
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	58,889	59,640
Recurring basis | Level III | Loan Commitments
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	3,082	2,038
Recurring basis | Level III | Forward sale commitments
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	116	272
Derivative liabilities	-1,528
Recurring basis | Level III | Right to acquire MSRs
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets		1,717
Recurring basis | Level III | Embedded conversion option
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivatives		-500
Recurring basis | Total
Levels in the fair value hierarchy into which the financial instruments were categorized
Loans held for sale	203,006	89,233
Recurring basis | Total | Mortgage servicing rights
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	58,889	59,640
Recurring basis | Total | Loan Commitments
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	3,082	2,038
Recurring basis | Total | Forward sale commitments
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets	116	272
Derivative liabilities	-1,528
Recurring basis | Total | Right to acquire MSRs
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivative assets		1,717
Recurring basis | Total | Embedded conversion option
Levels in the fair value hierarchy into which the financial instruments were categorized
Derivatives		($500)

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (Level III, Discounted cash flow, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Mortgage servicing rights
Fair Value Measurements
Derivative assets	58,889	59,640
Mortgage servicing rights | Minimum
Fair Value Measurements
Discount rate (as a percent)	8.00%	8.00%
Mortgage servicing rights | Maximum
Fair Value Measurements
Discount rate (as a percent)	14.00%	14.00%
Mortgage servicing rights | Weighted Average
Fair Value Measurements
Discount rate (as a percent)	11.40%	12.00%
Loan Commitments
Fair Value Measurements
Derivative assets	1,670	1,810
Loan Commitments | Minimum
Fair Value Measurements
Discount rate (as a percent)	8.00%	8.00%
Loan Commitments | Maximum
Fair Value Measurements
Discount rate (as a percent)	8.00%	12.00%
Loan Commitments | Weighted Average
Fair Value Measurements
Discount rate (as a percent)	8.00%	8.00%
Right to acquire MSRs
Fair Value Measurements
Derivative assets		1,717
Right to acquire MSRs | Minimum
Fair Value Measurements
Discount rate (as a percent)		8.00%
Right to acquire MSRs | Maximum
Fair Value Measurements
Discount rate (as a percent)		8.00%
Right to acquire MSRs | Weighted Average
Fair Value Measurements
Discount rate (as a percent)		8.00%

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Embedded conversion option
Change in derivative instruments classified as Level III
Balance at the beginning of the period		($1,825)
Reclassification to additional paid-in capital		86
Embedded conversion option | Gains from mortgage banking activities
Change in derivative instruments classified as Level III
Unrealized gains (losses) recorded in net income		1,739
Loan commitments and forward sale commitments | TRS'
Change in derivative instruments classified as Level III
Balance at the beginning of the period	3,527	182
Settlements	-8,893	-2,098
Balance at the end of the period	1,670	3,527
Loan commitments and forward sale commitments | TRS' | Gains from mortgage banking activities
Change in derivative instruments classified as Level III
Realized gains (losses) recorded in net income	5,366	1,916
Unrealized gains (losses) recorded in net income	$1,670	$3,527

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying value and estimated fair value of the financial assets on the consolidated balance sheet
Loans held for investment	$1,384,975	$958,495
Financial Liabilities:
Convertible notes	68,395	67,815
Debt issued by consolidated VIE	219,043	395,027
Carrying Value
Carrying value and estimated fair value of the financial assets on the consolidated balance sheet
Loans held for investment	1,462,584	958,495
Financial Liabilities:
Secured financing agreements	552,799	264,419
Warehouse line of credit	193,165
Convertible notes	68,395	67,815
Carrying Value | Offered Certificates
Financial Liabilities:
Debt issued by consolidated VIE	219,043	395,027
Carrying Value | Offered Notes
Financial Liabilities:
Debt issued by consolidated VIE	308,703
Total | Level III
Carrying value and estimated fair value of the financial assets on the consolidated balance sheet
Loans held for investment	1,472,891	965,436
Total | Level III | Offered Certificates
Financial Liabilities:
Debt issued by consolidated VIE	219,043	395,027
Total | Level III | Offered Notes
Financial Liabilities:
Debt issued by consolidated VIE	308,703
Total | Level II
Financial Liabilities:
Secured financing agreements	552,799	264,419
Warehouse line of credit	193,165
Convertible notes	$69,000	$69,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended				12 Months Ended			0 Months Ended
	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	1-May-12	Jul. 30, 2014
RELATED PARTY TRANSACTIONS
Amount owed by the entity to related party			$2,796,000		$2,735,000	$2,796,000
Restricted Costs | Maximum
RELATED PARTY TRANSACTIONS
Costs to be reimbursed per quarter	1,000,000	1,000,000	1,000,000	1,000,000
ACREM
RELATED PARTY TRANSACTIONS
Base management fees as a percentage of stockholders' equity per annum					1.50%
Percentage multiplied to arrive at first value affecting calculation of incentive fees					20.00%
Previous period for which core earnings are considered to arrive at first value affecting calculation of incentive fees					12 months
Previous period for product of weighted average price per share and weighted average number of shares of common stock and other shares						12 months
Percentage multiplied to arrive at difference of first value affecting calculation of incentive fees					8.00%
Number of fiscal quarters considered to arrive at second value affecting calculation of incentive fees					12 months
Period whose fiscal quarters are considered to arrive at first value affecting calculation of incentive fees					12 months
Incentive fee payable					0
Minimum cumulative core earnings			0			0
Period for which cumulative core earnings must be greater than zero					3 years
Automatic renewal period of management agreement					1 year
Incentive fees earned					0	0	0
Multiplier of average annual base management and incentive fee to arrive at termination fee					3
Period preceding most recently completed fiscal quarter considered for calculation of average of annual base management and incentive fee					24 months
Incurred					10,777,000	8,620,000	3,927,000
Amount owed by the entity to related party			2,796,000		2,735,000	2,796,000
ACREM | Management Fees
RELATED PARTY TRANSACTIONS
Incurred					5,916,000	4,241,000	1,665,000
Amount owed by the entity to related party			1,497,000		1,471,000	1,497,000
ACREM | General and administrative expenses
RELATED PARTY TRANSACTIONS
Incurred					4,000,000	3,610,000	1,602,000
Amount owed by the entity to related party			1,000,000		1,000,000	1,000,000
ACREM | Direct costs
RELATED PARTY TRANSACTIONS
Incurred					861,000	769,000	643,000
Amount owed by the entity to related party			299,000		264,000	299,000
ACREM | Other
RELATED PARTY TRANSACTIONS
Incurred							17,000
ACREM | Servicing Fees
RELATED PARTY TRANSACTIONS
Incurred								0
Ares Investments Holdings LLC
RELATED PARTY TRANSACTIONS
Aggregate principal amount					1,200,000	1,200,000
Ares Investments Holdings LLC | Secured revolving funding facility | City National Bank
RELATED PARTY TRANSACTIONS
Debt Instrument Credit Support Fee Agreed to be Paid as Percentage of Average Outstanding Amount									1.50%
Credit support fee incurred									$278,000

DIVIDENDS_AND_DISTRIBUTIONS_De

DIVIDENDS AND DISTRIBUTIONS (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)	$1	$1
Dividends per share amount paid (in dollars per share)	$1	$1
Total cash dividends	$28,597	$23,385	$3,877
Common stock outstanding	28,586,915	28,506,977
10-Nov-14
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)	$0.25
Dividends per share amount paid (in dollars per share)	$0.25
Total cash dividends	7,147
6-Aug-14
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)	$0.25
Dividends per share amount paid (in dollars per share)	$0.25
Total cash dividends	7,151
May 07 ,2014
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)	$0.25
Dividends per share amount paid (in dollars per share)	$0.25
Total cash dividends	7,151
17-Mar-14
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)	$0.25
Dividends per share amount paid (in dollars per share)	$0.25
Total cash dividends	7,147
13-Nov-13
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)		$0.25
Dividends per share amount paid (in dollars per share)		$0.25
Total cash dividends		7,127
7-Aug-13
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)		$0.25
Dividends per share amount paid (in dollars per share)		$0.25
Total cash dividends		7,119
15-May-13
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)		$0.25
Dividends per share amount paid (in dollars per share)		$0.25
Total cash dividends		6,822
14-Mar-13
DIVIDENDS AND DISTRIBUTIONS
Dividend per share amount declared (in dollars per share)		$0.25
Dividends per share amount paid (in dollars per share)		$0.25
Total cash dividends		$2,317

VARIABLE_INTEREST_ENTITIES_Det

VARIABLE INTEREST ENTITIES (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Aug. 15, 2014	Nov. 19, 2013	Dec. 19, 2014
			item		property
Variable Interest Entities
Commitment	$1,600,000,000
Outstanding Principal	1,395,281,000	965,436,000
Variable Interest Entity Mortgage Loans on Real Estate Commercial and Consumer Net	848,224,000	493,783,000
Issuer
Variable Interest Entities
Preferred equity fully funded amount			32,700,000
Primary beneficiary
Variable Interest Entities
Maximum exposure to loss	168,800,000	98,800,000
Carrying value and the maximum exposure of unconsolidated VIEs
Maximum exposure to loss	168,800,000	98,800,000
Not primary beneficiary
Variable Interest Entities
Maximum exposure to loss	39,608,000	4,850,000
Carrying value and the maximum exposure of unconsolidated VIEs
Carrying value	38,982,000	4,804,000
Maximum exposure to loss	39,608,000	4,850,000
Offered Certificates
Variable Interest Entities
Aggregate principal amount	219,000,000	395,000,000
Variable interest basis	LIBOR	LIBOR
Interest rate margin (as a percent)	2.41%	1.89%
Principal amount of Certificates retained by wholly owned subsidiary of the entity	98,800,000
Interest expense	9,100,000	972,000
Offered Notes
Variable Interest Entities
Number of properties collateralized for mortgage loan			15
Interest expense	9,100,000	972,000
Offered Notes | Issuer
Variable Interest Entities
Variable interest basis	LIBOR
Interest rate margin (as a percent)	1.45%
Principal amount of Certificates retained by wholly owned subsidiary of the entity			37,400,000
Outstanding Principal			346,100,000
Principal balance of debt to be offered to third parties	308,700,000
Depositor | Commercial Mortgage Pass-Through Certificates (the "Certificates")
Variable Interest Entities
Aggregate principal amount				493,800,000
Number of adjustable rate participation interests (the "Trust Assets") in commercial mortgage loans contributed in connection with securitization	18
Number of properties collateralized for mortgage loan	27
ACRC Lender LLC | Offered Notes
Variable Interest Entities
Collateral amount			378,800,000
ACRC KA Investor LLC
Variable Interest Entities
Preferred equity fully funded amount					170,000,000
Number of properties					22
Ownership interest held by parent					54.30%
Ownership interest held by non controlling owners					45.70%
Fixed rate of return on investment					10.95
Holdco
Variable Interest Entities
Variable Interest Entity Mortgage Loans on Real Estate Commercial and Consumer Net	168,400,000
Holdco | Primary beneficiary
Variable Interest Entities
Maximum exposure to loss	92,400,000
Carrying value and the maximum exposure of unconsolidated VIEs
Maximum exposure to loss	$92,400,000

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Aug. 30, 2013	Aug. 25, 2014
	item	item		item
ACQUISITIONS
Number of loans held under MSR portfolio	976	1,000
Unpaid principal amount on servicing assets	$4,100,000,000	$3,700,000,000
MSRs acquired in asset acquisition	1,259,000
Decrease in gain on acquisition	-747,000
Determination of gain on acquisition
Gain on acquisition		4,438,000
Acquisition-related costs	20,000	4,079,000
ACRE Capital
ACQUISITIONS
Total consideration paid			60,900,000
Cash as consideration for the acquisition			53,400,000
Number of shares of common stock issued as consideration for the acquisition			588,235
Decrease in gain on acquisition	0
Assets acquired:
Cash	1,157,000
Restricted cash	15,586,000
Loans held for sale	22,154,000
Mortgage servicing rights	61,236,000
Intangible assets	5,000,000
Derivative assets	182,000
Risk-sharing indemnification	3,703,000
Other assets	4,748,000
Total assets acquired	113,766,000
Liabilities assumed:
Warehouse lines of credit	14,472,000
Allowance for loss sharing	18,386,000
Accounts payable and accrued expenses	4,748,000
Other liabilities	10,795,000
Total liabilities assumed	48,401,000
Net Assets Acquired	65,365,000
Payable incurred in connection with close of the transaction			6,000,000
Determination of gain on acquisition
Fair value of net assets acquired	65,365,000
Fair value of consideration transferred			-60,900,000
ACRE Capital | Freddie Mac Program Plus license
ACQUISITIONS
Number of loans held under MSR portfolio				46
Unpaid principal amount on servicing assets				370,600,000
Total consideration paid				2,200,000
MSRs acquired in asset acquisition				1,300,000
Remaining purchase price allocated to indefinite-lived intangible asset				941,000
Determination of gain on acquisition
Fair value of consideration transferred				($2,200,000)

SEGMENTS_Details

SEGMENTS (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
									item	item
SEGMENTS
Number of reportable segments									2	2
ASSETS
Cash and cash equivalents	$16,551,000				$20,100,000				$16,551,000	$20,100,000	$23,390,000	$1,240,000
Restricted cash	66,121,000				16,954,000				66,121,000	16,954,000
Loans held for investment	1,462,584,000				958,495,000				1,462,584,000	958,495,000	353,500,000
Loans held for sale, at fair value	203,006,000				89,233,000				203,006,000	89,233,000
Mortgage servicing rights, at fair value	58,889,000				59,640,000				58,889,000	59,640,000	61,236,000
Other assets	60,502,000				32,493,000				60,502,000	32,493,000
Total assets	1,867,653,000				1,176,915,000				1,867,653,000	1,176,915,000
Net interest margin:
Interest income from loans held for investment									70,495,000	37,600,000	9,278,000
Interest expense									-33,637,000	-14,973,000	-2,558,000
Net interest margin									36,858,000	22,627,000	6,720,000
Mortgage banking revenue:
Servicing fees, net									16,399,000	5,754,000
Gains from mortgage banking activities									17,492,000	5,019,000
Provision for loss sharing									1,364,000	-6,000
Change in fair value of mortgage servicing rights									-7,650,000	-2,697,000
Mortgage banking revenue									27,605,000	8,070,000
Gain on sale of loans									680,000	1,333,000
Total revenue	20,792,000	13,180,000	17,413,000	13,758,000	12,633,000	10,915,000	4,708,000	3,774,000	65,143,000	32,030,000	6,720,000
Expenses:
Management fees to affiliate									5,916,000	4,241,000	1,665,000
Professional fees									3,733,000	2,924,000	1,194,000
Compensation and benefits									18,649,000	5,456,000
Acquisition and investment pursuit costs									20,000	4,079,000
General and administrative expenses									9,252,000	3,955,000	1,285,000
General and administrative expenses reimbursed to affiliate									4,000,000	3,610,000	1,619,000
Total expenses									41,570,000	24,265,000	5,763,000
Changes in fair value of derivatives										1,739,000	-97,000
Income from operations before gain on acquisition and income taxes									23,573,000	9,504,000	860,000
Gain on acquisition										4,438,000
Income before income taxes									23,573,000	13,942,000	860,000
Income tax expense (benefit)									-1,043,000	176,000
Net income attributable to ACRE	9,121,000	4,102,000	6,638,000	4,755,000	3,290,000	6,884,000	3,265,000	327,000	24,616,000	13,766,000	186,000
Net income attributable to non-controlling interests									-220,000
Net income attributable to common stockholders	8,901,000	4,102,000	6,638,000	4,755,000	3,290,000	6,884,000	3,265,000	327,000	24,396,000	13,766,000	186,000
ACRE
ASSETS
Cash and cash equivalents	15,045,000				14,444,000				15,045,000	14,444,000
Restricted cash	49,679,000				3,036,000				49,679,000	3,036,000
Loans held for investment	1,462,584,000				958,495,000				1,462,584,000	958,495,000
Loans held for sale, at fair value					84,769,000					84,769,000
Other assets	45,457,000				16,632,000				45,457,000	16,632,000
Total assets	1,572,765,000				1,077,376,000				1,572,765,000	1,077,376,000
Net interest margin:
Interest income from loans held for investment									70,495,000	37,600,000
Interest expense									-33,637,000	-14,973,000
Net interest margin									36,858,000	22,627,000
Mortgage banking revenue:
Gain on sale of loans									680,000
Total revenue									37,538,000	22,627,000
Expenses:
Management fees to affiliate									5,440,000	4,125,000
Professional fees									2,686,000	2,447,000
Acquisition and investment pursuit costs									20,000	4,079,000
General and administrative expenses									3,003,000	2,430,000
General and administrative expenses reimbursed to affiliate									3,400,000	3,394,000
Total expenses									14,549,000	16,475,000
Changes in fair value of derivatives										1,739,000
Income from operations before gain on acquisition and income taxes										7,891,000
Gain on acquisition										4,438,000
Income before income taxes									22,989,000	12,329,000
Income tax expense (benefit)									240,000
Net income attributable to ACRE									22,749,000	12,329,000
Net income attributable to non-controlling interests									-220,000
Net income attributable to common stockholders									22,529,000
ACRE | Revenue | Customer
Expenses:
Number of Customers									1	1
Concentration risk (as a percent)									15.80%	13.00%
ACRE Capital
ASSETS
Cash and cash equivalents	1,506,000				5,656,000				1,506,000	5,656,000
Restricted cash	16,442,000				13,918,000				16,442,000	13,918,000
Loans held for sale, at fair value	203,006,000				4,464,000				203,006,000	4,464,000
Mortgage servicing rights, at fair value	58,889,000				59,640,000				58,889,000	59,640,000
Other assets	15,045,000				15,861,000				15,045,000	15,861,000
Total assets	294,888,000				99,539,000				294,888,000	99,539,000
Mortgage banking revenue:
Servicing fees, net									16,399,000	5,754,000
Gains from mortgage banking activities									17,492,000	5,019,000
Provision for loss sharing									1,364,000	-6,000
Change in fair value of mortgage servicing rights									-7,650,000	-2,697,000
Mortgage banking revenue									27,605,000	8,070,000
Gain on sale of loans										1,333,000
Total revenue									27,605,000	9,403,000
Expenses:
Management fees to affiliate									476,000	116,000
Professional fees									1,047,000	477,000
Compensation and benefits									18,649,000	5,456,000
General and administrative expenses									6,249,000	1,525,000
General and administrative expenses reimbursed to affiliate									600,000	216,000
Total expenses									27,021,000	7,790,000
Income from operations before gain on acquisition and income taxes										1,613,000
Income before income taxes									584,000	1,613,000
Income tax expense (benefit)									-1,283,000	176,000
Net income attributable to ACRE									1,867,000	1,437,000
Net income attributable to common stockholders									1,867,000
Other interest expense after adjustment of intercompany note									3,700,000	1,200,000
Net income after adjustment of intercompany note									$1,800,000	$244,000

QUARTERLY_FINANCIAL_DATA_Detai

QUARTERLY FINANCIAL DATA (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total revenue	$20,792	$13,180	$17,413	$13,758	$12,633	$10,915	$4,708	$3,774	$65,143	$32,030	$6,720
Net income	9,121	4,102	6,638	4,755	3,290	6,884	3,265	327	24,616	13,766	186
Net income (loss) attributable to common stockholders	8,901	4,102	6,638	4,755	3,290	6,884	3,265	327	24,396	13,766	186
Net income per common share-Basic	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.86	$0.72	$0.03
Net income per common share-Diluted	$0.31	$0.14	$0.23	$0.17	$0.12	$0.25	$0.32	$0.04	$0.85	$0.72	$0.03
Adjustment
Total revenue		-1,900	-1,800	-1,700	-1,900	-1,600	-1,500	-1,600
Mortgage banking revenue adjusted after reclassification from compensation and benefits into gains from mortgage banking activities		$516

COSTS_ASSOCIATED_WITH_RESTRUCT2

COSTS ASSOCIATED WITH RESTRUCTURING ACTIVITIES (Detail) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Reconciliation of the liability attributable to exit and disposal costs incurred
Accruals	$799
Payments	-574
Balance at the end of the period	225
ACRE Capital | Employee termination costs
Company's exit and disposal costs incurred
Total projected costs	799
Additional amount expected to be incurred	$44

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	0 Months Ended
	Mar. 05, 2015	Jan. 01, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 19, 2014	Jan. 28, 2015	Jan. 20, 2015	Feb. 27, 2015
Subsequent Events
Commitment			$1,600,000,000
Outstanding Principal			1,395,281,000	965,436,000
Total Commitment			1,337,243,000	635,000,000
ACRC KA Investor LLC
Subsequent Events
Ownership interest held by parent					54.30%
Ownership interest held by non controlling owners					45.70%
Subsequent event
Subsequent Events
Dividends declared per share of common stock (in dollars per share)	$0.25
Subsequent event | ACRC KA Investor LLC
Subsequent Events
Investments transferred to third party investors						1,800,000	3,900,000
Preferred Equity interest						170,000,000
Subsequent event | ACRC KA Investor LLC
Subsequent Events
Ownership interest held by parent	51.00%
Ownership interest held by non controlling owners	49.00%
Subsequent event | BAML Line of Credit
Subsequent Events
Total Commitment								135,000,000
Subsequent event | ACRE Capital
Subsequent Events
Commitment			17,700,000
Subsequent event | Nursing Facility in New York
Subsequent Events
Commitment		41,600,000
Outstanding Principal		$41,600,000
Base rate		LIBOR
Basis spread (as a percent)		5.00%
LIBOR Floor (as a percent)		0.25%
Term of mortgage loans		2 years