C-III Capital Partners LLC., a commercial real estate investment management company, acquired Resource America, Inc. in September 2016. This acquisition put C-III in a position to better serve the commercial real estate investment market for investment institutions and investors.
Andrew L. Farkas, the Chairman of C-III said, “This is a transformative acquisition for C-III, with our expanded platform, we are now able to provide commercial real estate debt and equity solutions to both institutions and retail investors. Today, we are well-positioned for further growth and to better serve the needs of our clients, and as well as those of the evolving commercial real estate industry.”
The acquisition gives C-III a diversity of real estate services and expands their investment products. C-III now has a combined management of assets that exceed $13 billion, manages 57,000 apartment complexes around the country, and services $79 billion of commercial real estate loans.
By acquiring Resource America, C-III gained one REIT (Resource Capital Corp.), two investment companies, four non-traded REIT’s, and access to Resource America’s capital raising infrastructure. Stockholders of Resource America received $9.78 per share as part of the acquisition deal.
C-III Capital Partners, LLC
C-III is a leading real estate investment management company and is one of the largest specialty service companies for commercial backed securities in the United States. C-III resolved $79 billion of defaulted commercial mortgage-backed security loans for 130 CMBS trusts.
C-III was founded in 2010 and has originated $5.2 billion in loans, manages $4 billion in funds and taken on $10 billion face value of CMBS loan bonds. It has 375 offices worldwide with a force of 6700 employees. The company manages over 380 square feet of property. The online marketplace for C-III, Real Capital Markets, has closed over $1.7 trillion dollars in real estate and loan sales.
Resource America, Inc.
Resource America is a real estate credit and investment management company. The company focuses on income from long-term investments with consistent value. The company manages 17,000 multi-family units in over 20 states and has over $9 billion dollars in assets. Resource America has raised over $1.1 billion dollars through the independent broker-dealer network for the Real Estate Opportunity REIT and Real Estate Opportunity REIT II.