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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DRAT3PWVlvo+v8lkit8qkJRd6Mpiv88Zgy800RpaN4H0YsnI6HrUHH/AUbYvp5YS
 8EVwOIEAGXdYb4rjH52GJg==

<SEC-DOCUMENT>0000950116-06-000440.txt : 20060208
<SEC-HEADER>0000950116-06-000440.hdr.sgml : 20060208
<ACCEPTANCE-DATETIME>20060208211920
ACCESSION NUMBER:		0000950116-06-000440
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060206
FILED AS OF DATE:		20060208
DATE AS OF CHANGE:		20060208

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Resource Capital Corp.
		CENTRAL INDEX KEY:			0001332551
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				202287134
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		212-974-1708

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RESOURCE AMERICA INC
		CENTRAL INDEX KEY:			0000083402
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32733
		FILM NUMBER:		06590789

	BUSINESS ADDRESS:	
		STREET 1:		1845 WALNUT STREET
		STREET 2:		SUITE 1000
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-546-5005

	MAIL ADDRESS:	
		STREET 1:		1845 WALNUT STREET
		STREET 2:		SUITE 1000
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER NAME:	
		FORMER CONFORMED NAME:	RESOURCE EXPLORATION INC
		DATE OF NAME CHANGE:	19890214

	FORMER NAME:	
		FORMER CONFORMED NAME:	SMTR CORP
		DATE OF NAME CHANGE:	19700522
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>p411543_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-02-06</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001332551</issuerCik>
        <issuerName>Resource Capital Corp.</issuerName>
        <issuerTradingSymbol>RSO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000083402</rptOwnerCik>
            <rptOwnerName>RESOURCE AMERICA INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1845 WALNUT STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1000</rptOwnerStreet2>
            <rptOwnerCity>PHILADELPHIA</rptOwnerCity>
            <rptOwnerState>PA</rptOwnerState>
            <rptOwnerZipCode>19103</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1800000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Resource Capital Investor</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100921</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Resource Capital Manager</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>15.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2006-03-08</value>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-03-07</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>651666</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Resource Capital Manager</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Resource Capital Investor, Inc. is a wholly-owned subsidiary of the reporting person.</footnote>
        <footnote id="F2">921 restricted shares that vest 1/3 per year for 3 years beginning on March 8, 2006.</footnote>
        <footnote id="F3">Resource Capital Manager, Inc. is an indirect, wholly-owned subsidiary of the reporting person.</footnote>
        <footnote id="F4">651,666 options that vest 1/3 per year for 3 years beginning on March 8, 2006.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ By: Resource America, Inc. Michael S. Yecies, Secretary</signatureName>
        <signatureDate>2006-02-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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