RAIT Financial Trust (RAS) 2015年年度报告「NYSE」.pdf

1、2015 AnnuAl RepoR|nYSe symbol:RASLetter to our ShareholdersDear Fellow Shareholders,RAIt Financial trust(“RAIt”)is a multi-strategy commercial real estate company utilizing its vertically integrated platform to originate commercial real estate loans,acquire commercial real estate properties and inve

2、st in,manage and service commercial real estate-related assets.During 2015,we conducted our business through the following core business lines:-our Commercial Real estate(CRe)business line concentrates on three business activities:real estate lending,owning and managing commercial real estate assets

3、 throughout the united States.the form of our investment may range from first mortgage loans to equity ownership of a commercial real estate property.We manage our investments in-house through our asset management and property management professionals.-our Independence Realty trust,Inc.(IRt)(nYSe MK

4、t:IRt)business activities concentrate on the ownership of apartment properties in opportunistic markets throughout the united States.A RAIt subsidiary serves as IRts external adviser and,at December 31,2015,RAIt owned 15.5%of IRts outstanding common stock.During 2015,RAIts platform generated just un

5、der$1 billion of loan originations including more than$600 million of bridge loans.We completed two floating-rate securitizations and sold$425 million of fixed-rate conduit loans during the year.We continued to execute on our capital recycling strategy primarily through property sales given the vola

6、tile state of the capital and securitization markets.While 2015 was a solid year operationally for RAIt,we felt it necessary to implement strategies to retain capital and right size our platform at year end in response to this volatility and economic developments.2015 HigHLigHtS:Investments in Mortg