RAIT Financial announces $150 million facility to finance CMBS loans

By Aleesia Forni

Columbus, Ohio, Nov. 28 - RAIT Financial Trust closed a new $150 million credit facility with Barclays Capital on Wednesday, according to a company news release.

This facility will be used to finance CMBS eligible commercial real estate loans.

"We are very excited about our relationship with Barclays Capital," chief executive officer Scott Schaeffer said in a press release to announce the facility.

"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."

RAIT is a Philadelphia-based manager of real estate related assets and provider of debt financing options to the real estate industry.

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