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John Nikodemus

Vice President and Senior Equity Analyst at BTIG, LLC

John Nickodemus is a Vice President and Senior Equity Analyst at BTIG, LLC, specializing in real estate investment trusts (REITs), with a research focus on companies such as SL Green Realty, Prologis Inc., and Ares Commercial Real Estate Corporation. He is recognized for his strong performance, consistently reiterating buy ratings and providing market-moving insights following major acquisitions and portfolio shifts, reflected in positive industry reception and competitive price targets. Nickodemus began his analyst career with BTIG prior to 2023 and has played a key role in shaping firm coverage of industrial and multifamily property types. He holds FINRA registration and is licensed as a broker, maintaining full regulatory credentials required for equity research.

John Nikodemus's questions to Claros Mortgage Trust (CMTG) leadership

Question · Q4 2025

John Nicodemus asked about the company's liquidity levels and trajectory for 2026 following the Term Loan B refinancing and recent resolutions. He also questioned how the improving commercial real estate market and increased transaction activity might impact the pace and timing of REO portfolio sales and watchlist loan resolutions.

Answer

President and CFO Mike McGillis explained that generated liquidity was used for deleveraging, and the company now has a significant cushion over minimum requirements, with future incremental liquidity potentially used for further deleveraging or new originations. CEO Richard Mack noted a more constructive environment for resolutions but cautioned that the market isn't fully back, balancing quick cleanup with optimal execution. EVP Priyanka Garg added that healthier capital markets are leading to more regular-way repayments on larger performing loans, accelerating portfolio turnover.

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Fintool can predict Claros Mortgage Trust logo CMTG's earnings beat/miss a week before the call

John Nikodemus's questions to Ares Commercial Real Estate (ACRE) leadership

Question · Q4 2024

John Nikodemus of BTIG asked for the outlook on ACRE's repayment trajectory for the remainder of 2025, given the high volume seen in Q4 2024 and early Q1 2025.

Answer

CEO Bryan Donohoe explained that while recent market dynamics extended loan durations, there is now 'potential energy' that could lead to an acceleration of repayments. He suggested that as more capital enters the space, ACRE could see an 'unnatural acceleration' of repayments in 2025, moving the portfolio back toward a more normalized three-year weighted average life for its investments.

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Fintool

Fintool can predict Ares Commercial Real Estate logo ACRE's earnings beat/miss a week before the call