# EDGAR Filing Document

**Accession Number:** 0001332551
**File Stem:** 0001213900-25-107206
**Filing Date:** 2025-11
**Character Count:** 17603
**Document Hash:** 8a124834dccc264eefa2560617f35942
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-107206.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001213900-25-107206

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACRES Commercial Realty Corp.
- **CENTRAL INDEX KEY:** 0001332551
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 202287134
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-81623
- **FILM NUMBER:** 251458927

**BUSINESS ADDRESS:**
- **STREET 1:** 390 RXR PLAZA
- **CITY:** UNIONDALE
- **STATE:** NY
- **ZIP:** 11556
- **BUSINESS PHONE:** 516-535-0015

**MAIL ADDRESS:**
- **STREET 1:** 390 RXR PLAZA
- **CITY:** UNIONDALE
- **STATE:** NY
- **ZIP:** 11556

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Exantas Capital Corp.
- **DATE OF NAME CHANGE:** 20180525

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Resource Capital Corp.
- **DATE OF NAME CHANGE:** 20050708
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ACRES Share Holdings, LLC
- **CENTRAL INDEX KEY:** 0001926719

**ORGANIZATION NAME:**
- **EIN:** 882033218
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 390 RXR PLAZA
- **CITY:** UNIONDALE
- **STATE:** NY
- **ZIP:** 11556
- **BUSINESS PHONE:** 516-862-2385

**MAIL ADDRESS:**
- **STREET 1:** 390 RXR PLAZA
- **CITY:** UNIONDALE
- **STATE:** NY
- **ZIP:** 11556

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 3)**

**ACRES Commercial Realty Corp.**

*(Name of Issuer)*

**Common Stock**

*(Title of Class of Securities)*

**00489Q102**

*(CUSIP Number)*

**Jaclyn Jesberger**<br>ACRES Commercial Realty Corp.<br>390 RXR Plaza<br>Uniondale, NY 11556<br>(516) 535-0015

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**11/06/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **00489Q102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACRES Share Holdings, LLC** | Name of reporting person<br>**ACRES Share Holdings, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**966347.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**966347.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.26%** | Percent of class represented by amount in Row (11)<br>**13.26%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The calculation of the foregoing percentage is based on 7,285,680 shares of Common Stock outstanding, as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 of ACRES Commercial Realty Corp. as filed with the Securities and Exchange Commission on November 6, 2025.

| **CUSIP No.** | **00489Q102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACRES Capital, LLC** | Name of reporting person<br>**ACRES Capital, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEW YORK** | Citizenship or place of organization<br>**NEW YORK** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**966347.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**966347.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.26%** | Percent of class represented by amount in Row (11)<br>**13.26%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The calculation of the foregoing percentage is based on 7,285,680 shares of Common Stock outstanding, as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 of ACRES Commercial Realty Corp. as filed with the Securities and Exchange Commission on November 6, 2025.

| **CUSIP No.** | **00489Q102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACRES Holdings, LLC** | Name of reporting person<br>**ACRES Holdings, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**966347.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**966347.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.26%** | Percent of class represented by amount in Row (11)<br>**13.26%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** The calculation of the foregoing percentage is based on 7,285,680 shares of Common Stock outstanding, as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 of ACRES Commercial Realty Corp. as filed with the Securities and Exchange Commission on November 6, 2025.

| **CUSIP No.** | **00489Q102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACRES Capital Corp.** | Name of reporting person<br>**ACRES Capital Corp.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**966347.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**966347.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | Aggregate amount beneficially owned by each reporting person<br>**966347.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**13.26%** | Percent of class represented by amount in Row (11)<br>**13.26%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** The calculation of the foregoing percentage is based on 7,285,680 shares of Common Stock outstanding, as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 of ACRES Commercial Realty Corp. as filed with the Securities and Exchange Commission on November 6, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock

**(b) Name of Issuer:**
ACRES Commercial Realty Corp.

**(c) Address of Issuer's Principal Executive Offices:**
390 RXR Plaza, Uniondale, NY, 11556

EXPLANATORY NOTE

This Amendment No. 3 to the statement of beneficial ownership on Schedule 13D (this "Amendment") amends the Schedule 13D originally filed by the Reporting Persons with the United States Securities and Exchange Commission on May 11, 2022 and amended on February 14, 2024 and May 8, 2024 (the "Schedule 13D"), relating to the shares of common stock, par value $0.001 (the "Common Stock"), of ACRES Commercial Realty Corp., a Maryland corporation (the "Issuer"). Unless otherwise indicated, all capitalized terms used herein in this Amendment shall have the meaning ascribed to them in Schedule 13D, and unless amended hereby, all information previously filed remains in effect.

**Item 4. Purpose of Transaction**

On May 6, 2022, the Issuer granted 299,999 shares of common stock to ACRES Share Holdings, LLC an affiliate of the Manager under the ACRES Commercial Realty Corp. Manager Incentive Plan. On February 6, 2023, May 2, 2023, August 1, 2023, October 31, 2023 and February 9, 2024, the Issuer issued 17,780; 6,875; 14,226; 30,320 and 1,911 shares of common stock, respectively, to ACRES Share Holdings, LLC pursuant to the Management Agreement for incentive compensation. On May 7, 2024, the Issuer granted 295,237 shares of common stock to ACRES Share Holdings, LLC an affiliate of the Manager under the ACRES Commercial Realty Corp. Manager Incentive Plan. This Amendment No. 3 is being filed to reflect an increase in ownership which is solely a result of a reduced total number of shares outstanding and not as a result of any purchases or sales.

(a) The Issuer will grant up to 333,333 restricted shares under the equity compensation plans to the Reporting Persons when each of the following book value targets are met: $21.00, $24.00, $27.00, $30.00, $33.00 and $36.00. In the second quarter of 2021 and in May 2022, restricted shares were issued to the Reporting Persons when the Issuer reported a book value of $21.00 and $24.00, respectively. Additionally, on May 7, 2024, 295,237 restricted shares were issued to the Reporting Persons when the Issuer reported a book value of $27.00.

(b) Not applicable

(c) Not applicable

(d) Not applicable

(e) Not applicable

(f) Not applicable

(g) Not applicable

(h) Not applicable

(i) Not applicable

(j) Not applicable

**Item 5. Interest in Securities of the Issuer**

**(a)**
(a) - (b) As of the date hereof, ACRES Share Holdings, LLC directly holds 966,347 shares of common stock. ACRES Share Holdings, LLC is a subsidiary of the Manager. Voting and dispositive power over shares held by the Manager are exercised by the board of directors of ACRES Capital Corp. Each of the five directors of ACRES Capital Corp., which include Messrs. Fentress and Fogel, Chairman and CEO/President, respectively, of the Issuer, has one vote, and the approval of a majority is required to approve an action. Under the so-called "rule of three" if voting and dispositive decisions regarding an entity's securities are made by three or more individuals, and voting or dispositive decisions require the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity's securities.

The aggregate number and percentage of the shares of common stock beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by reference.

The percentage of shares of common stock beneficially owned by each Reporting Person set forth on the cover pages of this Schedule 13D is calculated based on 7,285,680 shares of common stock outstanding, as reported in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 of ACRES Commercial Realty Corp., Inc. as filed with the Securities and Exchange Commission on November 6, 2025.

Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that any of the Reporting Persons (other than ACRES Share Holdings, LLC which directly holds the shares of common stock reported on this Schedule 13D) is the beneficial owner of the common stock referred to herein for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, or for any other purpose, and such beneficial ownership is expressly disclaimed.

**(b)**
—

**(c)**
Not applicable

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACRES Share Holdings, LLC

**Signature:** /s/ Jaclyn Jesberger

**Name/Title:** Vice President

**Date:** 11/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACRES Capital, LLC

**Signature:** /s/ Jaclyn Jesberger

**Name/Title:** Chief Legal Officer

**Date:** 11/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACRES Holdings, LLC

**Signature:** /s/ Jaclyn Jesberger

**Name/Title:** General Counsel

**Date:** 11/06/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACRES Capital Corp.

**Signature:** /s/ Jaclyn Jesberger

**Name/Title:** Secretary

**Date:** 11/06/2025