ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION	6 Months Ended
Mar. 31, 2012
ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION [Abstract]
ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION	NOTE 1 - ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION Resource America, Inc. (the "Company") (NASDAQ: REXI) is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its real estate, financial fund management, and commercial finance operating segments. As a specialized asset manager, the Company seeks to develop investment funds for outside investors for which the Company provides asset management services, typically under long-term management and operating arrangements either through a contract with, or as the manager or general partner of, the sponsored fund. The Company limits its investment funds to investment areas where it owns existing operating companies or has specific expertise. The Company manages assets on behalf of institutional and individual investors and Resource Capital Corp. ("RSO") (NYSE: RSO), a diversified real estate finance company that is organized and conducts its operations to qualify as a real estate investment trust ("REIT"). The consolidated financial statements and the information and tables contained in the notes to the consolidated financial statements are unaudited. However, in the opinion of management, these interim financial statements include all adjustments necessary to fairly present the results of the interim periods presented. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended September 30, 2011. The results of operations for the six months ended March 31, 2012 may not necessarily be indicative of the results of operations for the full year ending September 30, 2012. LEAF Commercial Capital, Inc. ("LEAF"). In January 2011, the Company formed LEAF to conduct its equipment lease origination and servicing operations and to obtain outside equity and debt financing sources. LEAF Financial Corporation, a subsidiary of the Company, retained the management of the four equipment leasing partnerships, which are sub-serviced by LEAF. On November 16, 2011, the Company and LEAF, together with RSO, entered into a stock purchase agreement and related agreements (collectively the "November 2011 LCC Transaction") with Eos Partners, L.P., a private investment firm, and its affiliates ("Eos"). Pursuant to the November 2011 LCC Transaction, Eos invested $50.0 million in cash in LEAF in exchange for 50,000 shares of newly-issued 12% Series A Participating Preferred Stock (the "Series A Preferred Stock") and warrants to purchase 2,954 shares of LEAF common stock for an exercise price of $0.01 per share, collectively representing, on a fully-diluted basis, a 45.1% interest in LEAF. In exchange for its prior interest in LEAF, RSO received 31,341 shares of Series A Preferred Stock, 4,872 shares of newly-issued 8% Series B Redeemable Preferred Stock (the "Series B Preferred Stock") and 2,364 shares of newly-issued Series D Redeemable Preferred Stock (the "Series D Preferred Stock"), collectively representing, on a fully-diluted basis, a 26.7% interest in LEAF. The Company retained 18,414 shares of LEAF common stock, representing a fully-diluted interest of 15.7%, and senior management of LEAF maintained a 10% fully-diluted interest. As a result of the November 2011 LCC Transaction, the Company deconsolidated LEAF (see Note 3) and has accounted for its investment in LEAF on the equity method beginning on November 17, 2011. In conjunction with the transaction and resulting deconsolidation of LEAF, the Company recorded a gain of $8.7 million. Apidos Capital Management, LLC ("Apidos"). On April 17, 2012, the Company sold 100% of its common equity interests in Apidos, its collateralized loan obligation ("CLO") management subsidiary, to CVC Capital Partners SICAV-FIS, S.A., a private equity firm ("CVC"). Pursuant to the sale and purchase agreement and related agreements between the Company and CVC dated as of December 29, 2011, the Company sold Apidos in exchange for (i) $25.0 million in cash, (ii) a 33% limited partner interest in CVC Credit Partners, L.P, a newly-formed Cayman Islands limited partnership jointly owned by the Company and CVC (the "Partnership"), and (iii) a 33% interest in the Partnership's general partner, a Jersey corporation (the "General Partner"). Prior to the closing, CVC contributed to the Partnership its credit management subsidiary. The Company also retained a preferred equity interest in Apidos which entitles it to receive distributions from the Partnership equal to 75% of the incentive management fees from the legacy Apidos portfolios.

NOTE 1 - ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION

Resource America, Inc. (the "Company") (NASDAQ: REXI) is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its real estate, financial fund management, and commercial finance operating segments. As a specialized asset manager, the Company seeks to develop investment funds for outside investors for which the Company provides asset management services, typically under long-term management and operating arrangements either through a contract with, or as the manager or general partner of, the sponsored fund. The Company limits its investment funds to investment areas where it owns existing operating companies or has specific expertise. The Company manages assets on behalf of institutional and individual investors and Resource Capital Corp. ("RSO") (NYSE: RSO), a diversified real estate finance company that is organized and conducts its operations to qualify as a real estate investment trust ("REIT").

The consolidated financial statements and the information and tables contained in the notes to the consolidated financial statements are unaudited. However, in the opinion of management, these interim financial statements include all adjustments necessary to fairly present the results of the interim periods presented. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended September 30, 2011. The results of operations for the six months ended March 31, 2012 may not necessarily be indicative of the results of operations for the full year ending September 30, 2012.

LEAF Commercial Capital, Inc. ("LEAF"). In January 2011, the Company formed LEAF to conduct its equipment lease origination and servicing operations and to obtain outside equity and debt financing sources. LEAF Financial Corporation, a subsidiary of the Company, retained the management of the four equipment leasing partnerships, which are sub-serviced by LEAF. On November 16, 2011, the Company and LEAF, together with RSO, entered into a stock purchase agreement and related agreements (collectively the "November 2011 LCC Transaction") with Eos Partners, L.P., a private investment firm, and its affiliates ("Eos"). Pursuant to the November 2011 LCC Transaction, Eos invested $50.0 million in cash in LEAF in exchange for 50,000 shares of newly-issued 12% Series A Participating Preferred Stock (the "Series A Preferred Stock") and warrants to purchase 2,954 shares of LEAF common stock for an exercise price of $0.01 per share, collectively representing, on a fully-diluted basis, a 45.1% interest in LEAF. In exchange for its prior interest in LEAF, RSO received 31,341 shares of Series A Preferred Stock, 4,872 shares of newly-issued 8% Series B Redeemable Preferred Stock (the "Series B Preferred Stock") and 2,364 shares of newly-issued Series D Redeemable Preferred Stock (the "Series D Preferred Stock"), collectively representing, on a fully-diluted basis, a 26.7% interest in LEAF. The Company retained 18,414 shares of LEAF common stock, representing a fully-diluted interest of 15.7%, and senior management of LEAF maintained a 10% fully-diluted interest. As a result of the November 2011 LCC Transaction, the Company deconsolidated LEAF (see Note 3) and has accounted for its investment in LEAF on the equity method beginning on November 17, 2011. In conjunction with the transaction and resulting deconsolidation of LEAF, the Company recorded a gain of $8.7 million.

Apidos Capital Management, LLC ("Apidos"). On April 17, 2012, the Company sold 100% of its common equity interests in Apidos, its collateralized loan obligation ("CLO") management subsidiary, to CVC Capital Partners SICAV-FIS, S.A., a private equity firm ("CVC"). Pursuant to the sale and purchase agreement and related agreements between the Company and CVC dated as of December 29, 2011, the Company sold Apidos in exchange for (i) $25.0 million in cash, (ii) a 33% limited partner interest in CVC Credit Partners, L.P, a newly-formed Cayman Islands limited partnership jointly owned by the Company and CVC (the "Partnership"), and (iii) a 33% interest in the Partnership's general partner, a Jersey corporation (the "General Partner"). Prior to the closing, CVC contributed to the Partnership its credit management subsidiary. The Company also retained a preferred equity interest in Apidos which entitles it to receive distributions from the Partnership equal to 75% of the incentive management fees from the legacy Apidos portfolios.