Sep 18 2014, 16:29 ET | About: RAIT Financial Trust (RAS) | By: Stephen Alpher, SA News Editor
The two were bought for a total price of $50.8M which RAIT (NYSE:RAS) funded with $15.8M of available cash and $35M of debt. Property #1 is a 236K square foot big box center, and property #2 a 161K square foot strip center. Both are located in Troy, Michigan. The deals were sourced through Urban Retail Properties which became a wholly owned subsidiary of RAIT in March. Source: Press Release
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