RAIT Financial Trust (RAS) (“RAIT”) announced that it had entered into a new $75 million facility (the "Facility") with UBS Real Estate Securities Inc. on January 27, 2014. 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 UBS. With the addition of this facility, we now have four facilities in place totaling $475 million in lending capacity consisting of $225 million to finance our investments in bridge loans and $250 million to finance CMBS structured loans.”
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.
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Andres Viroslav, 215-243-9000