RAIT Financial inks $150 million credit facility with Column Financial

By Toni Weeks

San Diego, Dec. 17 - RAIT Financial Trust entered into a new $150 million credit facility last Friday, according to a press release.

The facility was arranged with Column Financial, Inc., a subsidiary of Credit Suisse AG.

Proceeds will be used to finance the company's core commercial real estate bridge lending business.

"With the addition of this facility, we now have three facilities in place totaling $400 million in lending capacity to finance our investments in bridge and CMBS structured loans," chairman and chief executive officer Scott Schaeffer said in the release. "These facilities demonstrate the strength of our commercial real estate lending platform as we position RAIT for continued growth in 2013."

Philadelphia-based RAIT is a real estate investment trust.

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