RAIT Investment Trust to price $50 million preferred deal Monday

By Paul A. Harris

St. Louis, March 11 - RAIT Investment Trust expects to price a $50 million preferred issue on Monday, according to an informed source.

Friedman Billings Ramsey will run the books. Stifel Nicolaus will be the co-manager.

The issue will be comprised of 2 million of series A redeemable preferred shares priced at $25.00 per share.

Proceeds will be used for general corporate purposes.

The Philadelphia-based company is an internally managed mortgage real estate investment trust that originates senior, subordinated, bridge, and wraparound real estate loans. Its symbol is RASpfdA on the New York Stock Exchange.

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