PHILADELPHIA, PA, Apr 25, 2008 (MARKET WIRE via COMTEX News Network) -- Resource America, Inc. (NASDAQ: REXI) announces today that its
subsidiary, LEAF Financial Corporation ("LEAF"), has successfully
completed the public offering of LEAF Equipment Leasing Income Fund
III, L.P. ("LEAF III"). LEAF III raised approximately $120 million
within 14 months, 42% ahead of the original two year projected
offering period, and utilized a syndicate of more than 70 broker
dealers that participated in the offering. This is LEAF's third fund;
the first, LEAF I, raised approximately $17.1 million in gross
offering proceeds; the second, LEAF II, raised approximately $60.0
million in gross offering proceeds.
LEAF III owns and manages a diversified portfolio of equipment leases
and loans for credit-worthy American businesses. LEAF III's principal
objective is to generate regular cash distributions to investors.
Crit DeMent, Chairman and Chief Executive Officer of LEAF, stated,
"We are very pleased by the confidence financial advisors and
individual investors have shown in LEAF with their tremendous
acceptance of our investment programs. LEAF's ability to raise
substantial equity in the current dislocated capital markets allows
us to continue to take advantage of this situation, and the lack of
liquidity by other companies, on behalf of our investors."
LEAF is a commercial finance and equipment leasing company with
approximately $1.7 billion in assets under management as of December
Resource America, Inc. is a specialized asset management company that
uses industry specific expertise to generate and administer investment
opportunities for its own account and for outside investors in the
commercial finance, real estate and financial fund management
sectors. For more information please visit our website at
www.resourceamerica.com or contact firstname.lastname@example.org.
Certain matters discussed within this press release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Although Resource America,
Inc. 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 10Q, reports on Form 8-K and annual reports on Form
For more information, contact:
Resource America, Inc.
SOURCE: Resource America, Inc.