Resource America, Inc. (NASDAQ: REXI), announced today Resource America stockholders, at a special meeting, approved the pending merger of Resource America with a subsidiary of C-III Capital Partners LLC. Approximately 80% of the shares of Resource America common stock that were outstanding as of the record date of June 13, 2016 approved the merger, and approximately 99.8% of the shares of Resource America common stock that were voted approved the merger. The merger is expected to close on September 8, 2016.
About C-III Capital Partners
C-III Capital Partners LLC was formed in 2010 and is a leading commercial real estate investment and services company engaged in a broad range of activities, including: (i) primary and special loan servicing (named special servicer for approximately $81 billion of securitized commercial real estate loans); (ii) investment management (approximately $2.0 billion of gross equity and debt assets under management); (iii) loan origination (approximately $5.2 billion since inception in 2010); (iv) multifamily property management (owner of US Residential, which manages more than 40,000 units located in 23 states); (v) sales and leasing brokerage and commercial property management (owner of NAI Global, which has more than 375 member offices worldwide, with over 6,700 professionals, managing over 380 million square feet of commercial property); (vi) online marketing of institutional commercial real estate capital markets transactions (owner of Real Capital Markets, which has market ed over $1.7 trillion of properties and debt since inception in 1999 and operates an online live auction platform); and (vii) zoning due diligence services (owner of The Planning & Zoning Resources Company, commonly known as PZR). C-III's principal executive offices are located at 717 Fifth Avenue, New York, New York 10022, its telephone number is (212) 705-5100 and its internet address is www.c3cp.com.
About Resource America
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
