February 09, 2016 09:00 ET
PHILADELPHIA, PA–(Marketwired – Feb 9, 2016) – Resource America, Inc. (NASDAQ: REXI) (the “Company”) announced today that it has successfully closed its latest multifamily focused public offering, Resource Real Estate Opportunity REIT II, Inc. (the “REIT II”), a publicly registered non-traded REIT.
REIT II raised $556 million, including $196 million in the fourth quarter of 2015, a Company record for a single quarter. For 2015, REIT II raised more capital through the independent broker dealer channel than any other multifamily investment program. As of December 31, 2015, the Company had total real estate equity and debt assets under management in excess of $4 billion.
The Company’s multifamily REITs acquire well-located properties with demonstrable value-add potential by investing the requisite capital and implementing expert asset and property management to maximize asset value.
“Resource America has a 25-year history of successful investing in real estate, and is an industry leader in sponsoring real estate direct participation programs. We continue to find excellent investment opportunities that bode particularly well in the current volatile investment climate. The large asset base of properties provides solid investments for investors in our sponsored Funds, and a stable and growing revenue stream to Resource America,” commented Alan Feldman, SVP of Resource America and CEO of the multifamily REITs.
Resource America, Inc. is an asset management company that specializes in real estate and credit investments. The Company’s objective is to be best in class among asset managers in the real estate and credit sectors as measured by returns to investors and the quality of the funds and businesses it manages. Resource America’s investments emphasize consistent value and long-term returns with an income orientation. For more information please visit our website at www.resourceamerica.com or contact Marketing and Investor Relations email@example.com.
Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company’s reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. The Company undertakes no obligation to update or revise any forward looking statement to reflect new or changing information or events.
The Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.