NEW YORK, NY, Mar 31, 2011 (MARKETWIRE via COMTEX) --
Resource Capital Corp. (NYSE: RSO) (the "Company") announced that it closed yesterday on its previously announced underwritten public common stock follow-on offering of 6.9 million shares of its common stock, including 900,000 shares from the underwriter's full exercise of its over-allotment option. The Company received approximately $46.6 million of net proceeds.
Deutsche Bank Securities Inc. acted as sole book running manager for the public offering.
About Resource Capital Corp.
Resource Capital Corp. is a commercial real estate specialty finance company that qualifies as a real estate investment trust, or REIT, for federal income tax purposes. Resource Capital Corp.'s investment strategy focuses on commercial real estate-related assets and, to a lesser extent, higher-yielding commercial finance assets. The Company invests in the following asset classes: commercial real estate-related assets such as whole loans, A-notes, B-notes, mezzanine loans and commercial mortgage-related securities and investments in real estate joint ventures as well as commercial finance assets such as bank loans, lease receivables, other asset backed securities, trust preferred securities, and debt tranches of collateralized debt obligations, structured note investments and private equity investments principally issued by financial institutions.
Resource Capital Corp. is externally managed by Resource Capital Manager, Inc., an indirect wholly owned 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 real estate, commercial finance and financial fund management sectors.
This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management's control. 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, except as may be required by applicable law or regulation.
Contact: Resource Capital Corp. www.resourcecapitalcorp.com Email Contact
SOURCE: Resource Capital Corp.
http://www.resourcecapitalcorp.com/ http://www2.marketwire.com/mw/emailprcntct?id=7F9829CA0B7D3E7F
