X0202 4 2007-08-16 0 0001332551 Resource Capital Corp. RSO 0001312739 Beach Walter T 1845 WALNUT STREET, 10TH FLOOR PHILADELPHIA PA 19103 1 0 0 0 Common Stock 2007-08-16 4 S 0 16130 9.4263 D 995353 I By Investment Companies Common Stock 2007-08-17 4 P 0 32270 10.2311 A 1027623 I By Investment Companies Common Stock 2953 D On August 16, 2007, a fund managed by Beach Investment Counsel, Inc., sold, Resource Capital Corp. common stock at prices ranging from $9.40 to $9.48. Beach Investment Counsel, Inc., Beach Investment Management and Beach Asset Management, LLC are investment management firms for which the reporting person acts as managing director and possesses investment and or voting power over the shares managed by them. The reporting person disclaims beneficial ownership to 180,680 of such shares. On August 17, 2007, funds managed by Beach Investment Counsel, Inc., Beach Investment Management and Beach Asset Management, LLC purchased, in multiple transactions, blocks of Resource Capital Corp. common stock at prices ranging from $10.01 to $10.50. 897 of these shares were granted pursuant to the Company's 2005 Stock Incentive Plan and will fully vest on March 8, 2008. Walter T. Beach 2007-08-17