712 Fifth Avenue
10th Floor
New York, NY 10019
UNITED STATES
Tel. (212) 506-3870
Fax. (212) 245-6372
Industry: Mortgage REITs
On the web: http://www.resourcecapitalcorp.com
Employees: 808
Resource Capital Corp. is a Maryland Corporation. It is a specialty finance company that focuses mainly on commercial real estate and commercial finance. It is organized and conducts its operations to qualify as a real estate investment trust, or REIT, for federal income tax purposes. The Company's objective is to provide its stockholders with total returns over time, including quarterly distributions and capital appreciation, while seeking to manage the risks associated with its investment strategy. It invests in a combination of commercial real estate debt and other real estate-related assets and, to a lesser extent, higher-yielding commercial finance assets. It is an externally managed by Resource Capital Manager, Inc., which it refers to as the Manager, a wholly-owned indirect subsidiary of Resource America, Inc. (NASDAQ: REXI), 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. It originates first mortgage loans, or whole loans, directly to borrowers. The direct origination of whole loans enables it to better control the structure of the loans and to maintain direct lending relationships with the borrowers. The Company invests in mezzanine loans that are senior to the borrower's equity in, and subordinate to a first mortgage loan on, a property. These loans are secured by pledges of ownership interests, in whole or in part, in entities that directly own the real property. In addition, it might require other collateral to secure mezzanine loans, including letters of credit, personal guarantees of the principals of the borrower, or collateral unrelated to the property. It acquires senior and subordinated, secured and unsecured loans made by banks or other financial entities. The Company invests in small- and middle-ticket full payout equipment leases and notes.
