Capital Partners LLC, C-III, recently acquired Resource America Inc. C-III is an established commercial real estate investment management company, and as part of the deal, Resource America stockholders received $9.78 per share, or $207 million in total.
Andrew L. Farkas, CEO of C-III, said that the expanded platform allowed the combined company to provide commercial real estate debt as well as equity solutions to both institutions and retail investors. This better positions the company for growth in an expanded market offering.
The merger of C-III and Resource America creates a diversified platform of commercial real estate services combined with more investment products. C-III now owns $13 billion in assets, which include $79 billion of commercial mortgage. The company now manages 57,000 apartments nationwide.
Post-merger, there is a high level of focus to ensure consistent service levels are provided in C-III’s mortgage services, real estate lending, property management and brokerage departments.
C-III engages in a broad range of activities and is among the largest service providers for commercial mortgage backed securities. The corporation leverages real estate expertise to resolve defaulted loans for over 130 trusts, which hold $79 billion of commercial loans. C-III administers approximately $4 billion in products that focus on commercial equity and debt investments. In total, C-III manages nine debt funds, four equity funds, one hybrid debt and equity fund as well as other investment instruments. C-III’s online Real Capital Markets closed $1.7 trillion in asset and loan sales since 1999. C-III has its headquartered in Irving, TX, with additional offices in New York, NY, Greenville, SC and Nashville, TN.
Resource America focuses on consistent value and long-term returns on investments. It has $9 billion in assets, and manages 17,000 multifamily units in 20 states. Resource America raised $1.4 billion through the independent broker-dealer partnerships. This includes $635 million for Resource Real Estate Opportunity REIT and an additional $556 million for REIT II.