RAIT Financial Trust Announces Increased Leasing Activity at McDowell Mountain Business Park in Scottsdale

PHILADELPHIA--(BUSINESS WIRE)--RAIT Financial Trust (NYSE: RAS) (“RAIT”) is pleased to announce that, since taking control of McDowell Mountain Business Park in Scottsdale, Arizona, RAIT has attracted new tenants, bringing occupancy to 70% at November 2010. RAIT has leased approximately 91,793 square feet or 36% of the property since taking control. The property will begin to see the economic benefit from these leases during the fourth quarter of 2010.

McDowell Mountain Business Park consists of two 127,787 square foot, newly constructed Class A office buildings situated on 14.27 acres in North Scottsdale, Arizona.

About RAIT Financial Trust

RAIT Financial Trust manages a portfolio of real estate related assets, provides a comprehensive set of debt financing options to the real estate industry and invests in real estate related assets. RAIT's management uses its experience, knowledge and relationship network to seek to generate and manage real estate related investment opportunities for RAIT and for outside investors. For more information, please visit www.raitft.com or call Investor Relations at 215.243.9000.