(Read more on the multifamily market.)
PHILADELPHIA-The first-quarter financial report from RAITFinancial Trust has shed light on the results of the merger betweenthe former RAIT Investment Trust and Taberna Realty Finance Trustin December 2006. During its first quarter as a merged entity, netinvestment income reached $43 million, up from $15.4 million in thesame quarter a year ago.
European transactions are seen as an important avenue of growthin coming quarters, said Daniel Cohen, CEO, during a conferencecall. In February the company closed on its first European CDO,which aggregated 600 million euros ($781.1 million US). Cohen saidthe company has realized $5.6 million in fees from the transactionso far. "Our goal is to do between six to eight CDOs this year," hestated." European business is growing and already profitable."
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