Contact Information: Contact: Pamela Schreiber Investor Relations Resource America, Inc. 1845 Walnut Street, 10th Floor Philadelphia, PA 19103 (215) 546-5005 (215) 546-5388 (facsimile)
Resource America, Inc. Enhances Structured Finance Team
| Source: Resource America, Inc.
PHILADELPHIA, PA -- (MARKET WIRE) -- January 26, 2007 -- Resource America, Inc. (NASDAQ : REXI ) (the
"Company" or "Resource") announces that it has hired Joan Sapinsley as
Managing Director in charge of CMBS of Resource Financial Fund Management,
Inc. ("RFFM"), the Company's financial fund asset manager. Ms. Sapinsley
joins Resource from Teachers Insurance Company ("TIAA") where she was a
Managing Director in charge of large loan and subordinate CMBS investments
and directing TIAA's conduit program. At Resource, Ms. Sapinsley will lead
a team in the investment, monitoring, and management of CMBS collateral
both in the United States and Europe. She will focus her attention on
augmenting Resource's effort as external manager of Resource Capital Corp.
(NYSE : RSO ) and will assist in the management of existing and new products
for both the Company and external accounts. She will report to Jonathan
Cohen, CEO and President of the Company as well as to Jeffrey Blomstrom,
President of RFFM.
Jonathan Cohen, CEO and President of the Company and Resource Capital
Corp., comments, "We are excited about the addition of Joan to the Resource
team. She comes to us with a long and successful track record of having
managed billions of dollars of CMBS and other real estate finance assets.
She augments our already strong presence in the real estate debt finance
world and will assist not only Resource Capital but also our other fund
managers. She is a tremendous addition to the already strong team of real
estate professionals led by Alan Feldman and David Bloom. We expect that
Joan will make an immediate impact and expect her to build a significant
team in the space."
"I am thrilled to be joining a firm with the collective intelligence and
creativity of Resource America," says Ms. Sapinsley. "Their complementary
activities and rigorous credit culture allow me the perfect opportunity to
add CMBS and provide diversification to their other product offerings."
Resource America, Inc. is a specialized asset management company with
approximately $12.1 billion of assets under management as of September 30,
2006 that uses industry specific expertise to generate and administer
investment opportunities for its own account and for outside investors in
the financial fund management, real estate and commercial finance
industries. For more information please visit our website at
www.resourceamerica.com or contact Investor Relations at
pschreiber@resourceamerica.com.