SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Amster Howard

(Last)

(First)

(Middle)

23811 CHAGRIN BLVD # 200

(Street)

BEACHWOOD

44122-5525

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/26/2018

3. Issuer Name and Ticker or Trading Symbol
RAIT Financial Trust [ RASFO ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	205,697	D
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	132,380	D
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	60,598	D
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	18,400	I	AMSTER LIMITED PARTNERSHIP GENERAL PARTNER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	33,677	I	AMSTER LIMITED PARTNERSHIP GENERAL PARTNER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	1,300	I	AMSTER LIMITED PARTNERSHIP GENERAL PARTNER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	2,400	I	HORIZON PROPERTIES INC. MAJORITY SHAREHOLDER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	42,400	I	LAUGHLIN HOLDINGS LLC PRES OF MAJORITY MEMBER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	15,031	I	LAUGHLIN HOLDINGS LLC PRES OF MAJORITY MEMBER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	1,100	I	NEWAX INC. MAJORITY SHAREHOLDER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	3,400	I	PLEASANT LAKES CORP SOLE SHAREHOLDER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	20,000	I	PLEASANT LAKE APTS LLC PRES OF MAJORITY MEMBER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	8,000	I	PLEASANT LAKE APTS LLC PRES OF MAJORITY MEMBER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	18,425	I	PLEASANT LAKE APTS L.P. PRES OF GENERAL PARTNER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	145,699	I	PLEASANT LAKE APTS L.P. PRES OF GENERAL PARTNER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	57,497	I	PLEASANT LAKE APTS L.P. PRES OF GENERAL PARTNER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	4,974	I	PLEASANT LAKE SKOIEN INV LLC PRES OF MAJORITY MEMBER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	6,300	I	PLEASANT LAKE SKOIEN INV LLC PRES OF MAJORITY MEMBER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	65,700	I	RAMAT SECURITIES LLC MAJORITY MEMBER
RASFO RAIT FINANCIAL TRUST 8.375% SERIES B CUMULATIVE	43,959	I	RAMAT SECURITIES LLC MAJORITY MEMBER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	14,405	I	RAMAT SECURITIES LLC MAJORITY MEMBER
RASFP RAIT FINANCIAL TRUST 7.75% SERIES A CUMULATIVE	39,300	I	SOMERSET OUTLET CENTER L.P. PRES OF GENERAL PARTNER
RASFN RAIT FINANCIAL TRUST 8.875% SERIES C CUMULATIVE	16,100	I	SOMERSET OUTLET CENTER L.P. PRES OF GENERAL PARTNER

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

	HOWARD AMSTER	11/01/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.