KKR Real Estate Finance originates $602.5M of loans in May

KKR Real Estate Finance Trust (NYSE:KREF) closes on two floating-rate senior loans totaling $602.5M, resulting in Q2 originations of $785.1M across three senior loans.

YTD, KREF has originated five senior loans totaling $999.1M.

One of the loans originated in May is a $386.0M loan secured by 857 units across two multifamily properties in Brooklyn, NY; carries a coupon of LIBOR + 2.7% and has appraised loan-to-value of ~52%

The second loan is a $216.5M loan secured by a 1,070-unit, three-property class-A multifamily portfolio in Atlanta; Birmingham, AL; and Fort Worth, TX; carries a coupon of LIBOR +3.5% and an appraised LTV of ~74%.

Source Article