Criimi Mae, a commercial mortgage lender based in Rockville, Md., has reported net income of $1.0 million ($0.06 per share) for the second quarter, compared with $18.1 million ($1.15 per share) for the second quarter of 2004."By capitalizing on improving conditions in the hotel sector and overall economy, our asset management group has significantly reduced the balance of specially serviced hotel loans since the beginning of 2005," said Barry Blattman, Criimi Mae's chairman and chief executive officer. Criimi Mae, a mortgage real estate investment trust, can be found online at http://www.criimimaeinc.com.
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