Exantas Capital Corporation (NYSE: XAN) recently reported their results for the three months and year ended December 31, 2018. Exantas Capital is an indirect wholly-owned subsidiary of C-III Capital Partners LLC, which was founded by Mr. Andrew L. Farkas. C-III and its subsidiaries work in commercial real estate investment management, and Exantas specifically specializes in originating, holding, and managing commercial mortgage loans.
In this fourth quarter report, Exantas reported $1.1 billion of new commercial real estate loans and commercial mortgage-back securities during the fiscal year, with $274.9 million originated in the fourth quarter alone. The book value dropped slightly at $14.02 per common share in the fourth quarter, compared to $14.23 per common share at the end of the third quarter. The GAAP net income allocable to common shares was $0.23 per common share. This is significantly better than the loss of -$0.28 per share at the end of the fourth quarter of 2017.
Exantas’ consolidated balance sheets show an increase from year-end 2017 to year-end 2018 in total assets and total liabilities and stockholders’ equity. This reflects an increase in CRE loans, company borrowings, and distributions payable, among other things.
Exantas Capital Corporation is a leader in CRE credit investments, and effectively leverages C-III Capital Partners’ capabilities to better serve its clients. By using C-III’s asset management platform, Exantas is able to provide clients with unique insights into real estate markets. Mr. Farkas has served as Chairman and CEO of C-III Capital Partners since its founding in 2010, and his extensive real estate experience has led C-III and its subsidiaries to success in the real estate investment industry.