KKR Real Estate Finance Trust Investor Presentation Deck
Case Studies: Watch List Loans (Risk Rating 5)
Investment
Loan Type
Investment Date
Collateral
Loan Purpose
Location
Committed Amount
Current Principal Amount
Loan Basis
Coupon
Max Remaining Term (Yrs.)
Loan Risk Rating
Minneapolis Office
Floating-Rate Senior Loan
November 2017
Two Class-A Office Buildings
totaling 1.1mm SF
Refinance
Minneapolis, MN
$194 million
$194 million
$179 / SF
LIBOR + 3.8%
0.3
5
Philadelphia Office
Floating-Rate Senior Loan
April 2019
4-Building, 711k RSF Office Portfolio
Acquisition
Philadelphia, PA
$183 million
$159 million
$222 / SF
LIBOR + 2.6%
1.4
5
(1) Committed Amount and Current Principal Amount are net of $25 million write-off
(2) The senior loan was risk-rated 5 at December 31, 2022, then reassessed post-modification and is currently a risk-rated 3 loan.
KREF
Philadelphia Office
Floating-Rate Senior Loan
June 2018
2-Building, 978k RSF Office Portfolio
Acquisition
Philadelphia, PA
$136 million (¹)
$136 million (¹)
$139 / SF
SOFR + 3.5%
0.5
5(2)
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