Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2017

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

RAIT Financial Trust

Schedule III

Real Estate and Accumulated Depreciation

As of December 31, 2017

(Dollars in thousands)

			Initial Cost				Cost of Improvements, net of Retirements				Gross Carrying Amount
Property Name	Description	Location	Land		Building		Land		Building		Land (1)		Building (1)		Accumulated Depreciation- Building			Encumbrances (Unpaid Principal)			Year of Acquisition	Life of Depreciation
Willow Grove	Land	Willow Grove, PA	$	307	$	—	$	—	$	—	$	307	$	—	$	—		$	—		2001	N/A
Cherry Hill	Land	Cherry Hill, NJ		307		—		—		—		307		—		—			—		2001	N/A
Corey Landings	Land	St. Pete Beach, FL		9,735		—		—		5,024		9,735		5,024		—			—		2009	N/A
Plaz America	Retail	Houston, TX		6,736		15,866		—		7,274		6,736		23,140		(375	)	(52,962)(2)			2009	30
Inlet Square Mall	Retail	Myrtle Beach, SC		—		140		—		3,558		—		3,698		(232	)	(30,175)(2)			2009		30
1501 Yamato Road	Office	Boca Raton, FL		8,200		32,800		—		6,328		8,200		39,128		(11,928	)	(53,359)(4)			2009		30
Executive Mews - Willow Grove	Office	Willow Grove, PA		2,280		9,120		—		1,555		2,280		10,675		(3,241	)	(11,246)(2)			2010		30
Executive Mews - Cherry Hill	Office	Cherry Hill, NJ		1,980		7,920		—		2,906		1,980		10,826		(3,802	)	(8,600)(3)			2010		30
Lexington	Multi-Family	Jackson, MS		3,168		12,672		—		1,323		3,168		13,995		(4,016	)	(20,280)(2)			2010		30
Beachcomber Beach Resort	Land	Daytona Beach, FL		5,151		—		—		43		5,151		43		—		(12,649)(2)			2011	N/A
Union Medical	Office	Colorado Springs, CO		2,448		19,873		—		2,315		2,448		22,188		(305	)	(26,085)(2)			2014	30
Oakland Square	Retail	Troy, MI		6,031		15,836		—		498		6,031		16,334		(2,042	)	(16,296)(5)			2014		30
Oakland Plaza	Retail	Troy, MI		5,353		19,381		—		838		5,353		20,219		(2,404	)	(18,125)(5)			2014	30
Erieview Tower	Office	Cleveland, OH		17,385		2,183		—		12,832		17,385		15,015		—		(69,402)(2)			2015		30
Raritan Shopping Center	Retail	Raritan, NJ		3,313		20,697		—		166		3,313		20,863		(364	)	(29,000)(2)			2016	30
Erieview Galleria	Retail	Cleveland, OH		608		285		—		238		608		523		(59	)	(1,590)(2)			2017	30
			$	73,002	$	156,773	$	—	$	44,898	$	73,002	$	201,671	$	(28,768	)	$	(349,769	)

(1) The aggregate cost basis for federal income tax purposes of our investments in real estate approximates the carrying amount at December 31, 2017.

(2) These encumbrances are held by our consolidated securitizations, RAIT I and RAIT II

(3) Of these encumbrances, $7,017 is held by third parties and $1,584 is held by RAIT.

(4) Of these encumbrances, $20,859 is held by third parties and $32,500 is held by RAIT I.

(5) These encumbrances are held entirely by third parties.       

Investments in Real Estate	For the Year Ended December 31, 2017			For the Year Ended December 31, 2016
Balance, beginning of period	$	854,646		$	1,145,630
Additions during period:
Acquisitions		1,118			49,734
Improvements to land and building		9,362			22,701
Deductions during period:
Dispositions, impairments and deconsolidation of real estate		(590,454	)		(363,419	)
Balance, end of period:	$	274,672		$	854,646

Accumulated Depreciation	For the Year Ended December 31, 2017			For the Year Ended December 31, 2016
Balance, beginning of period	$	138,214		$	158,688
Depreciation expense		20,422			36,944
Dispositions and deconsolidation of real estate		(129,868	)		(57,418	)
Balance, end of period:	$	28,768		$	138,214