Resource Capital Corp. Announces Extension and Upsizing of Existing Term Financing Facility

NEW YORK, NY -- (Marketwired) -- 04/04/13 -- Resource Capital Corp. (NYSE: RSO) (the "Company") announced today that it has entered into an amendment of its existing commercial real estate credit facility with Wells Fargo Bank, N.A. The amendment increases the size of the facility to $250 Million and extends the current term of the facility to February of 2015 and provides two one year extension options at RSO's discretion. The credit facility will continue to be used to finance the Company's core commercial real estate lending business, floating rate whole loans, on lightly transitional properties nationwide.

Jonathan Cohen, President and Chief Executive Officer, commented, "This upsized and extended credit facility continues to demonstrate RSO's ability to access flexible credit to support its continued growth and provides a term financing option that carries the Company comfortably into 2017. The amendment and increase in the credit facility marks a key milestone in the expansion of our relationship with Wells Fargo which we look forward to continuing to grow over the coming years."

Dave Bloom, Senior Vice-President and head of the Company's Real Estate Debt business, added, "RSO is a well established provider of customized real estate financing solutions and has a full forward pipeline of lending opportunities that will utilize the credit facility while we aggregate high-quality collateral and make plans to again access the securitized financing market to optimally match fund our assets."

RSO is a diversified real estate finance company that is organized and conducts its operations to qualify as a REIT for federal income tax purposes. RSO's investment strategy focuses on CRE assets, and, to a lesser extent, commercial finance assets and other investments. RSO invests in the following asset classes: CRE-related assets such as commercial real estate property, whole loans, A-notes, B-notes, mezzanine loans, CMBS and investments in real estate joint ventures as well as commercial finance assets such as bank loans, lease receivables, other asset-backed securities, corporate bonds, trust preferred securities, structured note investments, and private equity investments principally issued by financial institutions.

RSO 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.

For more information, please visit the Resource Capital Corp. website at or contact investor relations at

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.

Resource Capital Corp.
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