Kkr Reit ( (KREF) ) has released its Q1 earnings. Here is a breakdown of the information Kkr Reit presented to its investors.
KKR Real Estate Finance Trust Inc. (KREF) is a real estate investment trust that specializes in originating or acquiring transitional senior loans backed by high-quality commercial real estate assets. The company operates within the real estate finance sector and is externally managed by KKR Real Estate Finance Manager LLC, a subsidiary of KKR & Co. Inc.
In its first-quarter 2025 earnings report, KREF announced a net loss of $10.6 million, or $0.15 per diluted share, compared to a net income of $14.6 million in the previous quarter. However, the company reported distributable earnings of $17.0 million, indicating a positive shift from the previous quarter’s distributable loss of $14.7 million.
Key highlights from the quarter include a strong liquidity position of $720.3 million, the origination and funding of $376.3 million in floating-rate loans, and the refinancing of a $340 million Term Loan B with a new $550 million loan due in 2032. The company also increased its corporate revolving credit facility to $660 million and entered into a new $300 million term lending agreement.
KREF’s loan portfolio, valued at $6.1 billion, is predominantly floating rate with a 7.6% yield, and the company successfully collected all interest payments due. The portfolio is diversified across multifamily and industrial assets, representing 61% of the total, with a weighted average loan-to-value ratio of 65%.
Looking ahead, KREF’s management remains optimistic about its strong liquidity and financing structure, positioning the company to continue its strategy of replacing loan repayments with new originations, supported by a robust financing framework with no corporate debt maturities until 2030.