KKR Real Estate Finance Trust Investor Presentation Deck
Case Studies: Largest Three Office Loans
Investment
Loan Type
Investment Date
Collateral
Location
Committed Amount
Current Principal Amount
Basis
Coupon (¹)
LTV(2)
Max Remaining Term (Yrs.)
Asset Photos
Bellevue Office
Floating-Rate Senior Loan
September 2021
Class-A Office
Totaling 609k SF
Bellevue, WA
$260 million (3)
$105 million
$855/SF
+ 3.6%
63%
4.3
Mountain View Office
Floating-Rate Senior Loan
July 2021
Five Class-A Office Buildings
Totaling 446k SF
Mountain View, CA
$250 million (4)
$195 million
$636/SF
+3.4%
73%
3.6
Minneapolis Office
(3)
The total whole loan is $520.8 million, co-originated by the Company and KKR affiliates. The Company's interest is 50.0% of the loan
(4) The total whole loan is $362.8 million, co-originated by the Company and a KKR affiliate. The Company's interest is 68.9% of the loan
KREF
Floating-Rate Senior Loan
November 2017
Two Class-A Office Buildings
Totaling 1.1mm SF
Minneapolis, MN
$194 million
$194 million
$179 / SF
+ 3.8%
N/A
0.3
(1) Coupon expressed as spread over the relevant floating benchmark rates, which include one-month LIBOR and Term SOFR, as applicable for each loan
(2)
LTV based on initial loan amount divided by the as-is appraised value as of the date the loan was originated. For the Bellevue Office, a Class-A development project, LTV is based on the appraised as
stabilized estimated value upon completion
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