RAIT Financial Trust [Closed] | REIT Profile

Symbol: RASF
Exchange: OTCMKTS
Founded: 1997
HQ: Philadelphia, PA, United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Mortgage

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Material Source Description
RAIT Enters Into a Stalking Horse Purchase Agreement to Sell Substantially All of Its Assets; Files Voluntary Chapter 11 Petitions to Facilitate Sale Process (2019-08-30) BUSINESS WIRE PHILADELPHIA--(BUSINESS WIRE)--RAIT Financial Trust (OTC Pink: RASF) (“RAIT”) today announced that it has into entered into an Equity and Asset Purchase Agreement (the “Purchase Agreement”) to sell substantially all of its assets to an entity owned by funds managed by affiliates of Fortress Investment Group LLC (“Fortress”) in a sale process under Section 363 of the United States Bankruptcy Code, as amended (the “Bankruptcy Code”). In addition, RAIT also announced that it has commenced voluntary proceedings for relief under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) for it and certain of its subsidiaries to facilitate the sale process.

About RAIT Financial Trust [Closed]


RAIT Financial Trust ("RAIT") (NYSE: RAS) is an internally-managed real estate investment trust ("REIT") focused on providing debt financing options to owners of commercial real estate ("CRE") throughout the United States. Additionally, RAIT owns a portfolio of CRE properties located throughout the United States. Since RAIT was formed in 1997, we have built a reputation for consistently executing efficiently with borrowers and their intermediaries by maximizing our experience in commercial real estate, deal structuring, and structured finance to deliver effective property-level financing solutions. We work closely with our borrowers to meet their financing objectives. RAIT utilizes its in-house commercial real estate lending platform to originate, underwrite, close and service quality lending opportunities. These directly originated opportunities are vetted through RAIT’s credit and risk management processes. The loans we make are secured by income-producing properties, including apartment, office and light-industrial properties and neighborhood retail centers.

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Last updated: 2021-08-04 - v1.7