NEW YORK, NY -- (Marketwired) -- 04/14/15 --
Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that total Commercial Real Estate ("CRE") loans funded in the first quarter were over $165 million, which represents a 122% increase over the same period last year. The trailing 12 month loan production as of Q1 2015 was over $817 million, as opposed to the trailing 12 month as of Q1 2014 at $394 million, an increase of over 107%.
Dave Bloom, Head of Real Estate for the Company, said, "Our originations continue on pace and ahead of last year's peak production level, while we remain keenly focused on credit quality, loan structure and the diverse and granular nature of our portfolio. RSO's pipeline of new loan opportunities remains strong with approximately $600 million of new loan opportunities quoted and in various stages of negotiation or underwriting. Finally, we continue to see unprecedented access to term financing options to optimally match-fund our assets and drive our ROE in a meaningful manner."
RSO is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt and equity investments. The Company is also active in commercial finance, including through Northport Capital, its middle market lending platform. The Company is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. (NASDAQ: REXI), an asset management company that specializes in real estate and credit investments.
For more information, please visit the Company's website at www.resourcecapitalcorp.com or contact investor relations at email@example.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "trend", "will," "continue," "expect," "intend," "anticipate," "estimate," "believe," "look forward" or other similar words or terms. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. Factors that can affect future results are discussed in the documents filed by Resource Capital Corp. from time to time with the Securities and Exchange Commission. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law.
Resource Capital Corp.
Source: Resource Capital Corp.