|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. 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. RAIT formed Independence Mortgage Trust, Inc. (IMT), in October 2011.