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PHILADELPHIA--([ BUSINESS WIRE ])--RAIT Financial Trust (aRAITa) (NYSE: RAS) announces strong leasing activity at its McDowell I office property located in Scottsdale, Arizona. The leasing activity will result in an increase in the occupancy rate from 78% to 95%. RAIT also expects the increase in occupancy to positively impact the performance of the property during the second half of 2012.

"Weave been experiencing positive momentum within our portfolio of directly held multi-family properties and itas great to see some of that momentum carrying into our office portfolio."

Scott Schaeffer, RAITas Chairman and CEO, said, aWeave been experiencing positive momentum within our portfolio of directly held multi-family properties and itas great to see some of that momentum carrying into our office portfolio.a

McDowell I is a 127,787 square foot, three story, Class A office building located in North Scottsdale, Arizona. McDowell I is currently 78% leased and will increase to 95% after the recently executed lease expansion of a current tenant.

RAITas wholly-owned subsidiary, CRP Commercial Services, is the property manager for McDowell I.

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.