Resource America, Inc. Forms Institutional Real Estate Joint Venture
(firmenpresse) - PHILADELPHIA, PA -- (Marketwired) -- 07/16/15 -- (NASDAQ: REXI) (the "Company") announced today the formation of Pearlmark Real Estate, L.L.C. ("Pearlmark"), a 50/50 joint venture between the Company and the principals of Pearlmark Real Estate Partners, L.L.C. ("PREP") focused on the management of institutional real estate investments. Based in Chicago, PREP has sponsored a series of private institutional real estate investment vehicles to (i) acquire, develop and manage office, retail, industrial and multifamily properties, and (ii) invest in high-yield real estate debt opportunities throughout the United States. Since its inception, PREP has committed approximately $4.5 billion of equity capital from a diverse institutional investor base that includes insurance companies, public and private pension funds, foundations, endowments, high net worth families, banks and Fortune 500 corporations. Pearlmark will manage all of PREP's new funds and investment strategies and will expand the Company's asset management activities with institutional investors.
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 or contact Marketing and Investor Relations at .
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.
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Datum: 16.07.2015 - 13:00 Uhr
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News-ID 407297
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