X0306 4 2013-08-20 0 0001529377 Ares Commercial Real Estate Corp ACRE 0001543437 Schuster Todd C/O ARES COMMERCIAL REAL ESTATE CORP. ONE NORTH WACKER DRIVE, 48TH FLOOR CHICAGO IL 60606 1 1 0 0 Co-Chief Executive Officer Common Stock 7027 D Common Stock 2013-08-28 4 P 0 10000 12.23 A 40000 I By SBHWD LLC Common Stock 2013-08-20 4 P 0 2500 12.4395 A 2500 I As custodian for child' s UTMA account Common Stock 2013-08-20 4 P 0 2500 12.4074 A 2500 I As custodian for child' s UTMA account The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.14 to $12.27, inclusive. The Reporting Person undertakes to provide Ares Commercial Real Estate Corporation, any security holder of Ares Commercial Real Estate Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (1) to this Form 4. The 40,000 shares are held by SBHWD LLC, a limited liability company, of which the reporting person is the managing member. The 2,500 shares were purchased by the reporting person as custodian of an account for the benefit of the reporting person's child under the Uniform Transfers to Minors Act. The 2,500 shares were purchased by the reporting person as custodian of an account for the benefit of the reporting person's child under the Uniform Transfers to Minors Act. /s/ Monica J. Shilling, by power of attorney 2013-08-28