{"id":1004152170,"date":"2016-09-11T23:42:32","date_gmt":"2016-09-12T07:42:32","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152170"},"modified":"2020-04-01T04:13:52","modified_gmt":"2020-04-01T12:13:52","slug":"c-iii-capital-partners-acquires-resource-america","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/c-iii-capital-partners-acquires-resource-america\/","title":{"rendered":"C-III Capital Partners Acquires Resource America"},"content":{"rendered":"

By Scott Baltic, Contributing Editor<\/p>\n

\"Andrew<\/a>

Andrew Farkas<\/p><\/div>\n

Dallas<\/strong>\u2014Leading CRE investment manager C-III Capital Partners LLC<\/a> has completed its acquisition of Resource America Inc.<\/a>, both companies announced late last week. Common stock in Resource America (REXI) ceased trading on the NASDAQ last Thursday, Sept. 8.<\/p>\n

Under the transaction, Resource America stockholders will be entitled to receive $9.78 per share in cash, or a total of about $207 million.<\/p>\n

\u201cThis is a transformative acquisition for C-III,\u201d chairman &\u00a0CEO Andrew Farkas said in a prepared statement. \u201cWith our expanded platform, we are now able to provide commercial real estate debt and equity solutions to both institutions and retail investors.\u201d<\/p>\n

Resource America is an asset management company specializing in real estate and credit investments. It had approximately $9 billion in assets under management as of June 30 and manages roughly 17,000 multifamily units in more than 20 states.<\/p>\n

It has raised approximately $1.4 billion in the aggregate through the independent broker-dealer network, including $635 million in capital for Resource Real Estate Opportunity REIT and $556 million for the multifamily-focused Resource Real Estate Opportunity REIT II, which closed in February.<\/p>\n

Both C-III and Resource America declined to comment on the transaction.<\/p>\n

The combination of C-III and Resource America, according to the announcement, draws on the best of both organizations \u201cto create a diverse suite of commercial real estate services with a broad platform of investment products.\u201d With the acquisition of Resource America, C-III adds one publicly traded REIT (Resource Capital Corp.; NYSE: RSO), four non-traded REITs and two other registered investment companies to its portfolio.<\/p>\n

C-III\u2019s expanded platform now manages more than $13 billion in assets, is the special servicer for $79 billion of commercial mortgage loans for more than 130 CMBS trusts and manages more than 57,000 apartment units across the United States.<\/p>\n

C-III is in turn a subsidiary of Island Capital Group LLC<\/a>\u00a0of New York, a privately held international real estate merchant bank that controls a group of real estate services companies engaged in commercial mortgage servicing, principal investment, fund management, and financial advisory and consulting services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Under the transaction, Resource America stockholders will be entitled to receive $9.78 per share in cash, or a total of roughly $207 million.<\/p>\n","protected":false},"author":882,"featured_media":1004506001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21808,21783,23891,21742],"tags":[],"class_list":["post-1004152170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dallas","category-deals","category-featured","category-investment","category-national","category-latest"],"acf":[],"yoast_head":"\nC-III Capital Partners Acquires Resource America - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/c-iii-capital-partners-acquires-resource-america\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"C-III Capital Partners Acquires Resource America\" \/>\n<meta property=\"og:description\" content=\"Under the transaction, Resource America stockholders will be entitled to receive $9.78 per share in cash, or a total of roughly $207 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/c-iii-capital-partners-acquires-resource-america\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-09-12T07:42:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-01T12:13:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/ALF-Headshot-SMILE-COLOR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"739\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/c-iii-capital-partners-acquires-resource-america\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/c-iii-capital-partners-acquires-resource-america\/\",\"name\":\"C-III Capital Partners Acquires Resource America - 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