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RAIT Financial Trust Contains $100M Commitment From Almanac

PHILADELPHIA-“It’s time to grow our loan portfolio,” says RAIT Chairman.

By Antoinette Martin | Updated on October 02, 2012

PHILADELPHIA-RAIT Financial Trust has gotten a $100 million capital infusion through ARS VI Investor I, an affiliate of Almanac Realty, to expand its real estate lending. The capital will be used for loan origination and investment, including CMBS and bridge lending.

On Oct. 17, the first $20 million of the commitment is to be funded and Andrew M. Silberstein, a partner of Almanac, will join the RAIT board. Scott Schaeffer, RAIT chairman and CEO, says, “We are seeing excellent lending opportunities and it’s time to once again grow our loan portfolio by utilizing our core commercial real estate lending platform which has been in place since RAIT was founded in 1997.”

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