RAIT Financial Expands in Commercial Mortgage Servicing
RAIT Financial Trust (RAS), a publicly-traded real estate investment trust (REIT), this week expanded the operations of its broker-dealer RAIT Securities to encompass a range of services to financial institutions. RAIT Securities expanded its commercial real estate advisory services to include commercial mortgage servicing. The firm also added asset valuation, monitoring and reporting, as well as asset acquisition and disposition to its range of services. RAIT Securities will offer restructuring and repositioning of troubled assets as well as asset and property management. The firm also offers strategic advisory and research. RAIT Financial Trust added Tony Butler, an 11-year veteran of Wachovia Capital Markets, to lead RAIT Securities. Butler is joined in heading up the firm by Sam Greenblatt, who joined RAIT Financial Trust in 2000 when it bought Pinnacle Capital Group, which Greenblatt owned. Pinnacle was a commercial mortgage conduit that structured and sold loans in the secondary mortgage market. RAIT Financial Trust also added Greg Laughton to the group after Laughton spent nearly seven years at Wachovia Capital Markets. Write to Diana Golobay.