SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 1, 2004
RAIT INVESTMENT TRUST
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(Exact name of registrant as specified in its charter)
Maryland 1-14760 23-2919819
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(State of incorporation (Commission (I.R.S. Employer
or organization) File Number) Identification No.)
c/o RAIT Partnership, L.P.
1818 Market Street, 28th Floor, Philadelphia, PA 19103
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (215) 861-7900
ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE.
From April 1, 2004 through June 21, 2004, we originated ten loans totaling
approximately $76.5 million and invested $5.6 million to acquire one property
interest. Three of our loans totalling $20.8 million were repaid during the same
period.
On June 10, 2004, we declared a quarterly cash distribution of $0.60 per
common share payable July 15, 2004 to holders of record on June 21, 2004.
During June 2004, we amended the terms of our $20.0 million line of credit
to increase the maximum amount available to borrow to $30.0 million.
In March and April 2004, we issued 2,760,000 7.75% Series A cumulative
redeemable preferred shares of beneficial interest, in the aggregate. The Series
A preferred shares rank senior to the common shares with respect to dividend
rights, redemption rights and rights upon our voluntary or involuntary
liquidation, dissolution or winding up. You should refer to the articles
supplementary with respect to the Series A preferred shares which have been
filed with the SEC for complete information concerning the terms of that series.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RAIT INVESTMENT TRUST
Date: June 21, 2004 By: /s/ Ellen J. DiStefano
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Ellen J. DiStefano
Chief Financial Officer and
Executive Vice President