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Resource Capital Corp. Message Board

  • lunco lunco Apr 29, 2013 5:45 PM Flag

    Resource Capital Corp. Closes New $44 Million Loan

    In case someone may have missed the news... So what does this mean? Money is being put to work= good news. Hopefully there have been other loans made this past quarter. If not then this news is not so good.
    Any thoughts?

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    • i tend to think that jc is working to restore investor confidence. they were fairly transparent and communicative a few years back. i prefer to think this is perhaps a beginning effort to build that trust again. and, yes, the size of the loan is noteworthy.

      given some of the back n forth on this board recently about which is the better stock, ras or rso and given ras' fairly good upward movement it would be useful for the street to also take notice of rso once again. and, yes, i do not assume that rso monitors these boards. however, i bet they take street pulse.

      jmho

      Sentiment: Hold

    • They would not have released this unless they too thought it was good news. The loan size is far larger than what they had been doing (10-20 million). In the last CC they said that they were going to so larger loans and look at securitizing them. The loan does not look too risky -- bridge loan secured by a 186,000 square foot grocery with good tenants.

      This one loan does not really demonstrate much, other than they are looking at high-yield mezzanine loans. Now if RSO could give us an update on the total loans underwriten and originated this quarter, then we'd have a better picture. We'll have to wait another week to find out.

      One inference I can draw from is the last offering: That was done very well and underwriters would have been better informed about what's going on within RSO.

      • 1 Reply to waynesonnen
      • Hi Wayne;
        All good points as always. I guess my question revolves around why RSO would announce this loan while not announcing any others. this quarter or even the previous several quarters. (In fact, I can't remember then ever announcing a loan). Is it the size of the loan? (This is much bigger than their standard loan size). Is it a new policy of announcing all loans? Or, heaven forbid, this is all the news that they have to announce? I tend to think it is more the size of the loan that is worthy of a press release rather than the fact they have made a loan or that they have adopted a new policy concerning the announcing of loans.
        As you say, we'll have to wait to find out.
        Wishing you well

 
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