1,985,000 Common Shares of Beneficial Interest UNDERWRITING AGREEMENTRait Investment Trust • September 21st, 2005 • Rait Investment Trust • Real estate investment trusts • New York
RAIT Investment Trust, a Maryland real estate investment trust (the “Company”), and RAIT Partnership, L.P., a Delaware limited partnership (the “Partnership”), confirm their agreement with each of the Underwriters listed in Schedule I hereto (collectively, the “Underwriters”), for whom Friedman, Billings, Ramsey & Co., Inc. (“FBR”) is acting as a representative (in such capacity, the “Representative”), with respect to (i) the sale by the Company and the purchase by the Underwriters, of 1,985,000 common shares of beneficial interest of the Company, $.01 par value per share (the “Common Shares”), and (ii) the grant by the Company to the Underwriters of the option described in Section 1(b) hereof to purchase all or any part of 295,700 Common Shares to cover over-allotments, if any. If FBR is the only firm listed on Schedule I hereto, then the term “Underwriters,” as used herein, shall be deemed to refer solely to FBR. The 1,985,000 Common Shares to be purchased by the Underwriters (the “I
