Business & Finance
Business and Finance
Business and Finance
Tue, March 17, 2009Mon, March 16, 2009Fri, March 13, 2009Thu, March 12, 2009Wed, March 11, 2009Tue, March 10, 2009Mon, March 9, 2009Fri, March 6, 2009Thu, March 5, 2009Wed, March 4, 2009Tue, March 3, 2009Mon, March 2, 2009Sun, March 1, 2009Sat, February 28, 2009Fri, February 27, 2009Thu, February 26, 2009Wed, February 25, 2009Tue, February 24, 2009Resource America, Inc.: Resource Real Estate Receives Loan Payoff on Legacy Portfolio Loan
Published on Monday, March 2nd 2009 at 12:41 GMT, Last Modified on 2009-03-02 12:42:26 by Market Wire
PHILADELPHIA, PA--(Marketwire - March 2, 2009) - Resource Real Estate, Inc. (the "Company"), a subsidiary of Resource America, Inc. (
Alan Feldman, CEO of Resource Real Estate, Inc., commented that, "We are very pleased by this loan repayment as it demonstrates the skills that we have in acquiring, structuring and managing distressed assets. We believe that our long and successful experience in working with distressed loans is valuable as we seek new distressed investments. We are also pleased that this sizable cash payment lets us further deleverage our balance sheet and position the Company to participate in opportunities that arise from today's market dislocations."
RRE owns and manages real estate investment vehicles on behalf of itself and for outside investors and operates the Company's commercial real estate debt platform. In total, RRE manages over $1.7 billion in assets under management as of December 31, 2008. RRE offers investment programs that acquire stable income-generating multifamily real estate assets and also discounted real estate loans throughout the U.S. RRE currently manages or supervises management of more than 17,000 multifamily units.
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 commercial finance, real estate and financial fund management sectors. For more information please visit our website at [ www.resourceamerica.com ] or contact [ pkamdar@resourceamerica.com ].
