RAIT Financial Trust (RAS) 2010年年度报告「NYSE」.pdf

1、2 0 1 0A 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,2010 was a year of transition and progress for RAIT Financial Trust.For the year,we generated positiveGAAP net income and REIT taxable income.In January

2、 2011,we declared our first common dividend since2008.Throughout 2010,we continued to focus on the performance of our legacy portfolios while using our corestrengths in commercial real estate to launch exciting new initiatives intended to support future revenue growth.We also continued the deleverag

3、ing process through the purchase and retirement of both our recourse and nonrecourse indebtedness.We achieved significant gains in the operating and credit performance of the assets within our portfolios in2010.Our$841.5 million portfolio of owned real estate experienced an increase in both occupanc

4、y levels andrental rates during the year.At year end,we owned 47 properties consisting of 33 multi-family assets,9 officeassets,2 retail assets and 3 parcels of land.In our$1.2 billion commercial real estate loan portfolio,we sawimproved credit performance in our loans as real estate fundamentals st

5、rengthened during the year.Heading into 2011,we are focused on continuing the deleveraging process while seeking to support futurerevenue growth using the infrastructure and expertise of our existing loan origination platform and developingnew opportunities for generating fee income.We are seeking t

6、o attract new sources of capital looking to invest incommercial real estate to support our strategies.We look forward to 2011 and we thank our shareholders for their support through your ongoing ownershipof RAIT.Sincerely,Scott F.SchaefferChairman and Chief Executive OfficerS H A R E H O L D E R I N