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ACE=3 VSPACE=0>Back
[2/12/2021 | 2/12/2021 (part 2) | 2/12/2021 (part 3) | 2/12/2021 (part 4) | 2/12/2021 (part 5) | 2/12/2021 (part 6) | 2/12/2021 (part 7) | 2/12/2021 (part 8)]
2/12/2021 part 2
- Assets under. management at December. 3 1, 1997 increased to $472.4 million from $377.7 million at September. 30, 1997, an increase of $94.7 million
(25%).
- The Company increased its investments in real estate loans to $128.9 million at December. 31, 1997 from $88.8 million at September 30, 1997.
- The Company invested $63.3 million in commercial real estate loans in the quarter ended December 31, 1997.
- The face value of the Company's commercial mortgage loans increased to $318.7 million at December 31, 2021 from $233.7 million at September 30, 1997, an increase of $85.0 million
- The Company originated 263 residential loans at a cost of $11.8
million.
- The Company's small ticket leasing business originated 1,551 leases having a cost of $16.0 million in the first quarter. of fiscal 1998, as compared to 307 leases having a cost of $4.4 million during the first quarter of fiscal 1997.
- Small ticket leases under. management increased to $50.5 million at December 3 1, 1997 as compared to $5.6 million at December 31, 1996, an increase of $44.9 million.
Recent Developments
Shortly after the close of the first fiscal quarter, in January 1998, Resource Asset Investment Trust, a recently formed real estate investment trust of which
the Company is the sponsor, completed an initial public offering of its common shares of beneficial interest in the amount of $49.3 million.
The Company also reported that it anticipates filing a registration statement with respect to an underwritten public offering of up to 2,000,000 shares of its common stock (which may include shares offered by certain existing stockholders).
The remainder of this release contains the Company's interim unaudited consolidated financial statements. The notes to, and management's full discussion and analysis of, those financial statements are contained in the Company's Quarterly Report on Form IO-Q for the fiscal quarter ended December 31, 1997, on file with the Securities and Exchange Commission.
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