Philadelphia, PA, December 18, 2021 - Resource America, Inc., (Nasdaq: REXI) (the "Company") is pleased to announce that David E. Bloom, formerly with Colony Capital, LLC, the Los Angeles based real estate opportunity fund, has joined Resource America, Inc. as Senior Vice President and President of Resource Properties, Inc., its real estate subsidiary. While at Colony, Mr. Bloom established the firm's operations in South Korea, which acquired and managed a portfolio of non-performing real estate loans with an original principal balance in excess of $1 billion. Prior to his position at Colony, Mr. Bloom was a Director of Sonnenblick-Goldman Company, the New York based real estate investment bank, where he directed private equity activities and was a member of the firm's Capital Markets Group. Mr. Bloom began his career in real estate in 1987 as an Acquisitions and Development Associate with Strouse, Greenberg & Company. In addition, Mr. Bloom has practiced law in the real estate and corporate departments of Willkie Farr & Gallagher in New York and Drinker Biddle & Reath in Philadelphia.
Resource America conducts its real estate finance business through its wholly owned subsidiary, Resource Properties, Inc. Mr. Bloom will manage an existing portfolio of restructured commercial loans with an aggregate outstanding balance in excess of $620 million and will direct the resolution of these mortgages and the disposition of the underlying properties. The Company's current portfolio includes loans secured by The Evening Star Building and The National Press Building in Washington, D.C., The Alex Brown Building in Baltimore, MD and the Pensacola Place Apartments and 1212 South Michigan Avenue Apartments in Chicago, IL.
Resource America, Inc. is a specialized financial services company with interests in energy, real estate and equipment leasing. Resource America has over $1billion of assets under management.
Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release.