RAIT Closes Euro Securitization

September 21, 2007, 2:00 p.m. EDT 1 Min Read

RAIT Financial Trust, a real estate investment trust based in Philadelphia, has announced the closing of a 900 million euro (approximately $1.21 billion) European securitization managed by a subsidiary.RAIT purchased Eur17.5 million (approximately $23.5 million) of unrated notes in the transaction and will earn collateral management and origination fees. The company said the securitization was its second euro-denominated deal backed mainly by subordinated and senior debt issued by real estate companies in Europe. The REIT can be found at http://www.raitft.com.

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