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RAIT Financial Trust completes industrial portfolio divestiture

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RAIT Financial Trust completes industrial portfolio divestiture

RAIT Financial Trust has completed the divestiture of a 10-property industrial portfolio.

The process started in the first quarter and closed in November after the last of the two remaining industrial properties in the portfolio were divested.

The company expects to recognize a noncash gain from the divestiture of approximately $25 million during the fourth quarter.