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Rait Investment Trust $50 million preferred talked 8 1/8%-8¼%, to price Wednesday
By Paul A. Harris
St. Louis, Sept. 28 - Rait Investment Trust's $50 million offering of series B cumulative perpetual preferred shares is talked at 8 1/8% to 8¼%, according to a syndicate source.
The deal is expected to price Wednesday.
The company will sell 2 million of the series B shares for $25.00 par.
Friedman Billings Ramsey is the bookrunner. Piper Jaffray and Stifel Nicolaus & Co. are the co-managers.
The Philadelphia-based real estate investment trust focuses on properties in Philadelphia and in the Baltimore to Washington, D.C., corridor.
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