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PHILADELPHIA--([ BUSINESS WIRE ])--RAIT Financial Trust (NYSE: RAS) ("RAIT") announced today that it has hired Jeffrey Katz as Vice President of Acquisitions. Mr. Katz will focus on sourcing acquisitions for Independence Realty Trust, Inc. (aIRTa), a multifamily focused non-listed REIT sponsored by RAIT and externally managed by a RAIT subsidiary.

"We are pleased to welcome a seasoned industry professional of Jeffas caliber to the team. Jeffas experience and knowledge will be instrumental in growing IRTas portfolio and facilitating its expansion in new and existing markets."

Mr. Katz has over ten years of experience in multifamily acquisitions and dispositions, portfolio management, loan underwriting and valuation and real estate finance. Mr. Katz has worked for large and entrepreneurial real estate companies, where he oversaw the sale and underwriting of over $1.3 billion of real estate assets. Most recently, Mr. Katz sourced and underwrote the acquisition of over $100 million of multifamily properties. Mr. Katz graduated from Indiana University with a BS in Real Estate Finance in 1999. Mr. Katz is a member of the National Multi Housing Council and a director of the Real Estate Investment Association.

Jack Salmon, RAITas CFO and IRTas President, said "We are pleased to welcome a seasoned industry professional of Jeffas caliber to the team. Jeffas experience and knowledge will be instrumental in growing IRTas portfolio and facilitating its expansion in new and existing markets.a

Mr. Katz will be based in Chicago working from the corporate office of Jupiter Communities, LLC (aJupitera). Jupiter, IRTas property manager and a RAIT subsidiary, is a full-service, multifamily focused national property management company.

Mr. Katz can be reached at [ jkatz@raitft.com ] or (312) 924-1651.

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 their 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.

About Independence Realty Trust, Inc.

Independence Realty Trust, Inc. is a Maryland corporation that plans to qualify as a real estate investment trust (aREITa). IRTas investment strategy is to invest in a diversified portfolio focused on multifamily properties located throughout the United States. IRTas primary investment objectives are to pay attractive and consistent cash distributions to its stockholders, preserve invested capital and provide a diversified direct investment in multifamily properties.

About Jupiter Communities

Jupiter Communities, LLC, a subsidiary of RAIT Financial Trust, is a full-service [ multifamily property management company ] with approximately 11,000 apartment units under management nationwide. The leadership at Jupiter Communities boasts more than 50 years of industry experience managing and maximizing the value of apartment communities across the nation, giving it the ability to offer expert advice and superior services including property management, valuations and market studies, accounting, due diligence, dispositions, and construction management. For more information, please visit [ www.jupitercommunities.com ] or contact Kellie DeVilbiss at (312) 924-1601.