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Article: Imperial Credit Commercial Mortgage Investment Corp. Reports Second Quarter 1998 Investments
- Article from:
- PR Newswire
- Article date:
- July 7, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LOS ANGELES, July 7 /PRNewswire/ -- Imperial Credit Commercial Mortgage Investment Corp. (Nasdaq: ICMI) today reported that it invested $215 million directly or through its wholly-owned subsidiaries in a number of acquisition transactions during the second quarter of 1998, bringing the Company's total assets under management to approximately $700 million. The second quarter investments included $130 million of mortgage loans and $85 million of real property.
The Company's mortgage loan investments during the second quarter consisted of $93 million of performing multifamily and commercial mortgage loans acquired from Southern Pacific Bank, a wholly-owned subsidiary ...