RAIT Financial Trust Announces New $150 Million Facility with Credit Suisse Affiliate to Finance RAI
RAIT Financial Trust Announces New $150 Million Facility with Credit Suisse Affiliate to Finance RAIT's Bridge Lending Business
PHILADELPHIA--(BUSINESS WIRE)-- RAIT Financial Trust (NYS: RAS) ("RAIT") announced that it had entered into a new $150 million facility (the "Facility") with Column Financial, Inc., a Subsidiary of Credit Suisse AG, on December 14, 2012. The Facility will be used to finance RAIT's core commercial real estate bridge lending business.
Scott Schaeffer, Chairman and CEO of RAIT, said "We are very excited about our new relationship with Credit Suisse. With the addition of this facility, we now have three facilities in place totaling $400 million in lending capacity to finance our investments in bridge and CMBS structured loans. These facilities demonstrate the strength of our commercial real estate lending platform as we position RAIT for continued growth in 2013."
About RAIT Financial Trust
RAIT Financial Trust is an internally-managed real estate investment trust that provides debt financing options to owners of commercial real estate and invests directly into commercial real estate properties located throughout the United States. In addition, RAIT is an asset and property manager of real estate-related assets. For more information, please visit www.raitft.com or call Investor Relations at 215.243.9000.
RAIT Financial Trust
Andres Viroslav, 215-243-9000
KEYWORDS: United States North America Pennsylvania
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