Resource Capital upsizes facility to $250 million, extends to 2015

By Susanna Moon

Chicago, April 4 - Resource Capital Corp. said it upsized its commercial real estate credit facility with Wells Fargo Bank, NA to $250 million and extended the maturity to February 2015.

The amendment also provides two one-year extension options.

The credit facility will continue to be used to finance the company's core commercial real estate lending business and floating-rate whole loans on lightly transitional properties nationwide, according to a press release.

"This upsized and extended credit facility continues to demonstrate RSO's ability to access flexible credit to support its continued growth and provides a term financing option that carries the Company comfortably into 2017," Jonathan Cohen, president and chief executive officer, said in the press release.

Resource Capital is a New York-based specialty finance company that focuses on commercial real estate assets, commercial mortgage-backed securities and commercial finance. It is organized as a real estate investment trust.

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