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RAIT Picks Sole Texas Correspondent

HOUSTON-Harbor Capital Group establishes the exclusive relationship with Philadelphia-based RAIT Investment Trust. As one of less than a dozen correspondents, Harbor expects to do complete more than $100 million in financings for RAIT this year.

By Jennifer D. Duell | Updated on March 21, 2005

HOUSTON-Philadelphia-based RAIT Investment Trust has chosen a local mortgage banker, Harbor Capital Group, as its sole correspondent for Texas.

RAIT, which offers mezzanine and bridge financing for mid-size commercial real estate, launched its correspondent program less than two years ago and has fewer than a dozen correspondents. According to RAIT executive vice president Samuel Greenblatt, the REIT asked Harbor Capital to join the program because of its expertise in structured finance and ability to close high leverage transactions.

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