A Resource Capital Corp. subsidiary will purchase 100% of the ownership interests in Churchill Pacific Asset Management (CPAM) from Churchill Financial Holdings for $22.5 million, the New York-based real estate investment trust said today in a statement.

Through this acquisition, Resource Capital will acquire five CPAM-managed CLOs totaling approximately $1.9 billion in assets. Resource Capital said in the release that "it expects to earn substantial cash on cash returns on its investment."

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