Item 2.02 Results of Operations and Financial Condition.

On August 3, 2017, RAIT Financial Trust (“ RAIT ”) issued a press release regarding its preliminary financial results for the three and six months ended June 30, 2017 and a non-cash impairment charge primarily related to the carrying value of certain legacy properties. A copy of such press release is furnished as Exhibit 99.1.

In connection with the preparation and review of RAIT’s financial statements for the quarter ended June 30, 2017 that RAIT is required to include in its Quarterly Report on Form 10-Q for such quarter, RAIT has preliminarily concluded that it will incur non-cash asset and goodwill impairment charges estimated to be between $90.0 – $95.0 million for such quarter primarily related to the carrying value of certain legacy properties. RAIT changed its investment approach to these properties and transferred them from “held for investment” to “held for disposition” which resulted in RAIT making an adjustment to the carrying value of such properties. The estimated impairment charge also reflects a reduction in the carrying value of RAIT’s retail property management business, reflective of the challenging retail environment. While this estimated impairment charge reduces RAIT’s reported results under United States Generally Accepted Accounting Principles, it is non-cash in nature. In addition, RAIT expects that the final impairment charge that is recorded will not result in future cash expenditures.

The information in this Item 2.02 and in Items 7.01 and 9.01 below, including the exhibit hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Item 2.02 and in Items 7.01 and 9.01 below, including the exhibit hereto, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.