RESOURCE AMERICA INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct Financial O

Show all filings for RESOURCE AMERICA INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for RESOURCE AMERICA INC 9-Oct-2009Entry into a Material Definitive Agreement, Creation of a Direct Financial O Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All informati...
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RESOURCE AMERICA INC Files SEC form 8-K, Entry into a Material Definitive Agreement

Show all filings for RESOURCE AMERICA INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for RESOURCE AMERICA INC 2-Oct-2009Entry into a Material Definitive Agreement Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes on...
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RESOURCE AMERICA INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct Financial O

Show all filings for RESOURCE AMERICA INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for RESOURCE AMERICA INC 1-Oct-2009Entry into a Material Definitive Agreement, Creation of a Direct Financial O Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information pr...
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Resource Capital Corp. Reports Results for Third Quarter Ended September 30, 2009

NEW YORK, NY--(Marketwire - 11/02/09) - Resource Capital Corp. (NYSE:RSO - News) Third Quarter Highlights� -- Net Operating Income of $0.30 per share-diluted -- Common stock cash dividend of $0.30 per share -- Resource Capital Corp. repurchased $14.52 million of its corporate notes for $1.8 million, or at an 88% discount to par, for a gain of $12.7 million -- Resource Capital Corp. had $82.8 million of liquidity at September 30, 2009 -- Resource Capital Corp. had $75.2 million of loans repaid or settled Resource Capital Corp. (NYSE:RSO - News) ("RCC" or the "Company"), a real estate investment trust whose investment strategy focuses on commercial real estate ("CRE") loan assets and, to a lesser extent, commercial finance assets, reported results for the third quarter ended September 30, 2009.Other Highlights� -- Net operating income for the three and nine months ended September 30, 2009 was $7.2 million, or $0.30 per share-diluted and $27.0 million, or $1.11 per share-diluted, respectively, as compared to $10.2 million, or $0.41 per share-diluted and $31.3 million, or $1.26 per share-diluted, for the three and nine months ended September 30, 2008, ...
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Resource Real Estate Crosses $100 Million Mark in Distressed Real Estate Investments

PHILADELPHIA, PA--(Marketwire - 10/29/09) - Resource America, Inc. (NASDAQ:REXI - News) (the "Company"), today provided an update on the distressed real estate activities of Resource Real Estate, Inc. ("RRE"), its real estate asset management subsidiary. RRE manages a total of approximately $1.7 billion as of June 30, 2009, and is focusing its current efforts on distressed real estate investment opportunities as well as managing a portfolio of 17,000 multi-family units on a nationwide basis. RRE has been active in distressed real estate since 1991. After several years of managing previous distressed investments, it began seeking new investment opportunities for distressed real estate in late 2007 and -- as of this week -- it has invested approximately $110 million dollars of equity with institutional partners and through other programs.RRE is generally paid management fees and incentive fees for managing these distressed investments. On average through the various ventures and programs that it manages in this area, RRE receives at least 1% per year of the gross assets under management as an asset management fee, and typically earns at least 20% of the profits of the investments if they exceed 12%. RRE also earns certain acquisition, property management, debt placement and other fees which differ between programs and assets.RRE's Chief Executive Officer Alan Feldman said, "We are pleased to have now invested over $100 million of equity in distressed assets in this cycle. The dislocations in the current real estate and ...
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Resource Capital Corp. Elects New Chairman of the Board of Directors

PHILADELPHIA, PA--(Marketwire - 11/09/09) - Resource Capital Corp. (NYSE:RSO - News) ("RSO" or the "Company"), a real estate investment trust whose investment strategy focuses on commercial real estate loans and, to a lesser extent, commercial finance assets, has expanded its Board of Directors and elected Steven J. Kessler to serve as Chairman of the Board. Edward E. Cohen, who has served as RSO's Chairman of the Board since the Company's inception, will continue to serve on RSO's Board of Directors. Mr. Kessler, Chief Financial Officer of Resource America, Inc. (NASDAQ:REXI - News) since 1997 and Executive Vice-President of REXI since 2005, has almost 30 years of hands-on experience in commercial real estate and related matters. Prior to joining REXI in 1997, Mr. Kessler served as Vice President-Finance and Acquisitions at Kravco Company, a national shopping center developer and operator, from 1994 to 1997. From 1983 to 1994, Mr. Kessler held several positions at Strouse Greenberg & Co., a regional full service real estate company, ending as Chief Financial Officer and Chief Operating Officer, and Vice President-Finance and Chief Accounting Officer at its successor, The Rubin Organization, Inc. Prior thereto, Mr. Kes...
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Resource America, Inc. To Report Operating Results for the Fourth Fiscal Quarter and Year Ended September 30, 2009 and To Host Conference Call and Webcast

PHILADELPHIA--(BUSINESS WIRE)--Resource America, Inc. (NASDAQ:REXI - News) (the "Company") announced today that it will release its results for the fourth fiscal quarter and year ended September 30, 2009 on Monday, December 7, 2009, after market hours, and invites investors and other interested parties to listen to the live webcast of its quarterly conference call on Tuesday, December 8, 2009, at 8:30 a.m. EST. This call will be webcast live and can be accessed by investors and other interested parties from the home page of the Company's website at www.resourceamerica.com. For those unable to listen to the live broadcast, the replay of the webcast will be available following the live call on the Resource America, Inc. website and telephonically beginning at 11:30 a.m. EST on December 8, 2009 until January 8, 2010 by dialing 888-286-8010, passcode 14018877.Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the...
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RESOURCE AMERICA INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhibit

Show all filings for RESOURCE AMERICA INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for RESOURCE AMERICA INC 9-Nov-2009Entry into a Material Definitive Agreement, Financial Statements and Exhibit Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provide...
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Resource America, Inc. Reports Extension and Improvement in Revolving Credit Facility Terms

PHILADELPHIA, PA--(Marketwire - 11/09/09) - Resource America, Inc. (NASDAQ:REXI - News) (the "Company") reported that on November 6, 2009 it extended until October 15, 2011 the maturity of its revolving credit facility (the "Facility") with TD Bank. In addition to the term extension, the amended Facility provides additional flexibility and reduced debt costs to the Company resulting from (i) a substantial reduction of the interest rate spread from the prime rate plus 5% to the prime rate plus 3%; (ii) reduction of the minimum interest rate from 10% to 7%; (iii) reinstatement of the Company's option to choose a Libor based loan at a rate of Libor plus 4.5% (with a minimum Libor based rate of 7.5%); and (iv) a revision of the definition of "interest expense" to exclude non-cash items that are otherwise recorded as interest expense under Generally Accepted Accounting Principles. The Company simultaneously lowered the maximum amount of the Facility to $20 million, which reduction was funded by a portion of the proceeds of the Company's $18.8 million private placement of senior notes that was completed on October 8, 2009. Also, with the reduction in the Facility, U.S. Bank has been removed as a lender under the Facility so that currently TD Bank is the sole lender.Jonathan Cohen, President and Chief Executive Officer of the Company, said, "We are very pleased with the amendment to our revolving credit facility and the associated flexibility and cost savings. This accomplishment allows us to focus on our businesses which continue t...
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Resource America, Inc. Earnings Call scheduled for Tue, Dec 8

Call DetailsResource America, Inc. Earnings Conference Call (Q4 2009)Scheduled to start Tue, Dec 8, 2009, 8:30 am EasternAfter the event has finished, the audio will be availablefrom this page until Thu, Dec 9, 2010About Resource America, Inc. (NasdaqGS:REXI)Resource America, Inc. operates as an asset management company. The company, through its subsidiaries, operates in three segments: Financial Fund Management; Real Estate; and Equipment Finance. The Financial Fund Management segment engages in the formation and collateral management of structured financial products and of issuers of collateralized debt obligations, such as trust preferred securities, asset backed securities, leveraged loans, private equity, commercial mortgage backed securities, residential mortgage backed securities, collateralized debt obligations, and home equity loans. The Real Estate segment focuses on the acquisition of multifamily properties on behalf of the limited partnership investment funds it sponsors. The Equipment Finance segment offers small ticket equipment leases to the small to mid-sized business market through the formation of strategic marketing alliances. Resource America was founded in 1966 and is based in Philadelphia, Pennsylvania.More Info:Quote |Chart |News |Profile |Reports |Research |SEC |Msgs |...
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