(To read more on the debt and equity markets, click here.)

PHILADELPHIA-RAIT Financial Trust's net income for the finalquarter and full year of 2006 fell, while total revenue rose forboth the quarter and year. The locally based REIT merged withTaberna Realty Finance Trust during fourth quarter.

Net income for the quarter fell to $13.1 million, down from$18.1 million in the parallel quarter of 2005. The 2006 net incomewas $67.8 million, down from $68 million for 2005. Total revenuesfor the final quarter of 2006 was $28.8 million, up from $24million for the prior-year quarter, and full year revenues for 2006rose to $102.3 million, compared with $92.4 million in 2005. OnDec. 31, the company's investment portfolio totaled $11.2billion.

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