RAIT sells 5 assets for $110m since October
RAIT Financial Trust has completed the sale of five properties for an aggregate purchase price of approximately $110.4 million. The trust also divested an additional two properties with an aggregate net carrying value of approximately $14.3 million during the fourth quarter of 2017. The properties sold by RAIT were two parcels of land in Daytona Beach, Florida, an office property in Scottsdale, Arizona, with additional assets in Texas, Wisconsin and North Carolina. The properties divested by RAIT were two industrial properties in Pennsylvania and Ohio. RAIT expects these transactions to result in a reduction of related indebtedness by approximately $128.3 million.