RAIT Financial Trust Reiterates Expected Impact From Taberna Deconsolidation

(RTTNews) - Real estate investment trust RAIT Financial Trust (RAS) reaffirmed its previously disclosed expected impact regarding the deconsolidation of the Taberna VIII and IX securitizations from the company's portfolio. The company noted that the deconsolidation of Taberna will not have a material impact on its cash available for distribution or adjusted book value.

In December 2014, RAIT said it successfully deconsolidated these Taberna securitizations, which it expects will remove related volatility from its financial performance in 2015 and eliminate a portfolio that provided no material economic benefit to the company.

The company noted that the deconsolidation will result in a one-time, non-cash charge in its 2014 year-end results of about $227.1 million and a one-time reduction to its total equity of $214.0 million.