RAIT Financial on track to reach Q2 loan production goal, says CFO

By Lisa Kerner

Charlotte, N.C., June 5 - RAIT Financial Trust is "well on its way" to reaching its goal of $180 million in loan production by the end of the second quarter, said chief financial officer James Sebra during a presentation at the National Association of Real Estate Investment Trusts Investor Forum in Chicago on Wednesday.

Loan production reached about $95 million in the first quarter.

"RAIT has no corporate unsecured recourse debt maturities until 2016, and this gives us quite a window of opportunity to grow the company," Sebra said.

The company's dividend rose 20% from the prior quarter and 100% over the last five quarters.

"The lending business is ramping," said Sebra.

RAIT is a commercial real estate company based in Philadelphia.

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