Profile: RAIT Financial Trust (RAS.N)
7.53USD
1 Aug 2013
$-0.03 (-0.40%)
$7.56
$7.67
$7.91
$7.52
131,296
149,247
$8.85
$4.53
RAIT Financial Trust (RAIT) is a self-managed and self-advised real estate investment trust (REIT). RAIT is a vertically integrated commercial real estate company with a commercial real estate focused platform capable of originating primarily commercial real estate loans, commercial mortgage-backed securities (CMBS) eligible loans, acquiring commercial real estate properties and investing in, managing, servicing and advising on commercial real estate-related assets. It offers a set of debt financing options to the commercial real estate industry along with asset and property management services. Its platform also includes sponsoring non-traded REITs. The Company also owns and manages a portfolio of commercial real estate properties and manages real estate-related assets for third parties. It conducts its business through its subsidiaries, RAIT Partnership, L.P. and Taberna Realty Finance Trust. On January 20, 2011, RAIT acquired Independence Realty Trust, Inc (IRT). RAIT formed Independence Mortgage Trust, Inc. (IMT), in October 2011. The Company refers to IRT and IMT as its sponsored REITs.
The Company’s investments, and the investments held by its sponsored non-traded REITs, consist of the asset classes, which includes commercial real estate mortgages, mezzanine loans, CMBS eligible loans, other loans and preferred equity interests; investments in real estate or in entities that own commercial real estate, and investments in debt securities issued by real estate companies, including trust preferred securities (TruPS), and subordinated debentures, mortgage-backed securities, including CMBS, unsecured REIT notes and other real estate-related debt. The Company finances a portion of its investments through borrowing and securitization strategies seeking to match the maturities and terms of its financings with the maturities and terms of those investments, and to mitigate interest rate risk through derivative instruments.
RAIT provides a set of debt financing options to the commercial real estate industry, including commercial mortgages, mezzanine loans, CMBS eligible loans, other loans and preferred equity interests. RAIT invests in real estate properties, primarily multi-family properties, throughout the United States. The Company financed most of its debt securities portfolio in a series of non-recourse securitizations, which provided long-dated, interest-only, match funded financing to the TruPS and subordinated debenture investments. As of December 31, 2011, it retained a controlling interest in two such securitizations, which include Taberna VIII and Taberna IX, which are consolidated entities. RAIT has invested in CMBS, unsecured REIT notes and other real estate-related debt securities.
The Company has financed its portfolio of investments in commercial real estate through secured mortgages held by either third party lenders or RAIT’s commercial real estate securitizations. During the year ended December 31, 2011, it obtained seven mortgages on its investments in real estate from third party lenders. The assets held by the Company’s, taxable REIT subsidiaries (TRSs), as of December 31, 2011, included RAIT Jupiter Holdings, LLC, RAIT TRS, LLC, Taberna Capital Management, LLC (TCM), and RAIT Funding LLC.
Company Address
RAIT Financial Trust
Cira Centre
17th Floor, 2929 Arch Street
PHILADELPHIA PA 19104
P: +1215.2439000
F: +1215.2439039
Company Web Links
| Name | Compensation |
|---|---|
Scott Schaeffer |
3,342,700 |
James Sebra |
1,204,250 |
Raphael Licht |
1,322,350 |
Kenneth Frappier |
1,276,600 |
Andrew Batinovich |
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