EXHIBIT 23.1

               Consent of Independent Certified Public Accountants

We have issued our report dated January 23, 2002 (except for note 16(a) as to
which the date is March 13, 2002 and note 16(b) as to which the date is March
18, 2002) accompanying the consolidated financial statements of RAIT Investment
Trust and subsidiaries appearing in the 2001 Annual Report of the Company to its
shareholders and included in Form 10-K/A for the year ended December 31, 2001
which is incorporated by reference in this Registration Statement and
Prospectus. We consent to the incorporation by reference in the Registration
Statement and Prospectus of the aforementioned report and to the use of our name
as it appears under the caption "Experts."

/s/ GRANT THORNTON LLP

Philadelphia, Pennsylvania
October 25, 2002