RAIT Financial Trust (RAS) 2009年年度报告「NYSE」.pdf

1、2 0 0 9A N N U A LR E P O R TW W W.R A I T F T.C O M|N Y S E s y m b o l:R A SL E T T E R T O O U R S H A R E H O L D E R SDear Fellow Shareholders,Challenges provide opportunities.During 2009,in response to economic conditions,wereviewed and prioritized the strengths and weaknesses of RAITs busines

2、s platform.Theorigination and issuance of credit in the form of commercial real estate loans has always beenour core strength.The performance of our commercial real estate portfolio has not suffered asmuch as our other portfolios in the marketplace and our two commercial real estatesecuritizations c

3、ontinue to perform.We therefore determined that refining our platform to focuson old strengths while pursuing new opportunities was the best way to create future value forRAIT shareholders.And so,in 2010,our focus will include:expanding RAITs commercial real estate revenue by investing in commercial

4、 realestate-related assets,managing and servicing investments for our own account or forothers,providing property management services and providing our broker-dealeractivities,including fixed-income trading and real estate advisory services;continuing to reduce RAITs debt,including seeking opportuni

5、ties to reduce RAITs debtat a discount,and managing RAITs overhead to match the current operatingenvironment;andcreating value through patient holding of commercial real estate assets and internallymanaging them through difficult markets to increase performance and valuations overtime.After much pla

6、nning and strategic thinking,the outline above represents important goalsfor RAITs future.2010 will be a year of transition,but one in which we expect to begin to seethe fruits of our efforts.We will build upon our strengths with the hope of using them tomaximize your value.We thank our shareholders