PHILADELPHIA--(BUSINESS WIRE)--RAIT Financial Trust (NYSE: RAS) (“RAIT”) announced that it had entered into a new $150 million facility with Barclays Capital (the " Facility") on November 23, 2011. The Facility will be used to finance CMBS eligible commercial real estate loans.
Scott Schaeffer, Chairman and CEO of RAIT, said "We are very excited about our relationship with Barclays Capital. We now have two facilities in place totaling $250 million in lending capacity to finance CMBS eligible loans. Our participation in the CMBS market is a natural extension of our core lending business and we are positioned to grow this initiative within an improving CMBS market."
About RAIT Financial Trust
RAIT Financial Trust manages a portfolio of real estate related assets, provides a comprehensive set of debt financing options to the real estate industry and invests in real estate-related assets. RAIT's management uses its experience, knowledge and relationship network to seek to generate and manage real estate related investment opportunities for RAIT and for outside investors. For more information, please visit www.raitft.com or call Investor Relations at 215.243.9000.