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RAIT Financial reports $1.66 million net loss for month of October
By Caroline Salls
Pittsburgh, Dec. 2 – RAIT Financial Trust reported a $1.66 million net loss for October on $1.71 million in total revenue, according to its monthly operating report filed Monday with the Securities and Exchange Commission.
In comparison, RAIT posted a $15 million net loss for the period of Aug. 30 through Sept. 30 on $1.88 million in in total revenue.
The trust had $44.36 million in cash and cash equivalents as of Oct. 31, down slightly from $44.38 million at the end of September.
The real estate investment trust is based in Philadelphia. It filed bankruptcy on Aug. 30 under Chapter 11 case number is 19-11915.
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