Resource Capital (RSO +0.4%) originated five new commercial loans totaling about $116.8M in Q1, and funded $3.7M on existing commitments. Seven loans are currently in process totaling $108.2M, including three expected to close within the next two weeks. RSO has applications in hand for another six new loans totaling $240.2M and a pipeline representing more than $650M of potential investments. The company also purchased $40.8M par value of CMBS during the quarter.
Among commercial finance deals, RSO invested $37.8M in European CLO equity, expecting an IRR of 21%.