KKR Real Estate Finance Trust Inc. Announces Record Annual and Fourth Quarter 2021 Originations of $4.8 Billion and $1.8 Billion, respectively

NEW YORK, January 03, 2022–(BUSINESS WIRE)–KKR Real Estate Finance Trust Inc. (the “Company” or “KREF”) (NYSE: KREF) today announced that it closed 18 floating-rate loans totaling approximately $1.8 billion of commitments in the fourth quarter of 2021, resulting in record annual originations activity of 37 loans totaling approximately $4.8 billion of commitments for 2021. As of year-end, the outstanding funded loan portfolio was approximately $6.7 billion.

Commenting on the fourth quarter and 2021 activity, Matt Salem, Chief Executive Officer, said “KREF’s record fourth quarter closings of 18 loans totaling over $1.8 billion capped a record origination year of $4.8 billion. Our franchise has never been stronger and we are grateful for our deep client relationships that made this year possible. KREF’s access to the broader KKR platform and integrated approach has led to success beyond originations, including our inaugural preferred equity issuance, an accretive common stock issuance and the repricing and upsize of our Term Loan B which reduced our running costs by 175 bps. As we enter 2022, KREF remains well positioned for additional growth.”

Fourth Quarter 2021 Activity Summary

  • Originated and funded record $1.8 billion and $1.5 billion, respectively, relating to 18 floating-rate loans.

    • The 18 senior loans have a weighted average appraised loan-to-value (“LTV”) and coupon of 68% and L+3.0%, respectively.

    • 64% of fourth quarter originations were multifamily, and 18%, 14%…

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