REAL ESTATE
In 1991 the Company established Resource Properties,
Inc., its real estate finance division, which has
accumulated a portfolio valued at approximately $620
million as of June 30, 2022 and includes commercial real estate loans,
purchased at a discount and secured by buildings such
as The National Press Building, and The Evening Star
Building in Washington, D.C., the Alex Brown Building
in Baltimore, Maryland, The Pensacola Place Apartments
and 1212 South Michigan Avenue Apartments in Chicago,
IL. As of June, 2001, the face value of the Companys
real estate portfolio is approximately $620 million.
In 1997 the company organized RAIT Investment Trust
(AMEX:RAS), a real estate investment trust, in which
the Company owns a 10.6% equity interest. RAIT provides
specialized financing to the mid-sized real estate
market.