KREF Liquidity and Portfolio Overview
Consolidated Balance Sheets
(in thousands - except share and per share data)
Assets
Cash and cash equivalents(1)
Commercial real estate loans, held-for-investment
Less: Allowance for credit losses
Commercial real estate loans, held-for-investment, net
Real estate owned, net
Accrued interest receivable
Equity method investments
Other assets(2)
Total Assets
Liabilities and Equity
Liabilities
Secured financing agreements, net
Collateralized loan obligations, net
Secured term loan, net
Convertible notes, net
Dividends payable
Accrued interest payable
Other liabilities
Due to affiliates
Total Liabilities
Commitments and Contingencies
Equity
Preferred Stock, $0.01 par value, 50,000,000 shares authorized
$
September 30, 2023
108,038
7,528,451
$
(218,992)
December 31, 2022
239,791
7,494,138
(106,974)
7,309,459
7,387,164
81,618
80,231
39,930
39,005
35,540
36,849
50,857
19,281
7,625,442
$
7,802,321
3,827,399
1,941,114
335,680
$
3,748,691
1,935,592
336,828
143,237
29,716
29,711
19,388
17,859
10,535
10,245
8,313
8,722
6,172,145
6,230,885
Series A cumulative redeemable preferred stock, (13,110,000 shares issued and outstanding as of September 30, 2023 and December 31, 2022);
liquidation preference of $25.00 per share
Common stock, $0.01 par value, 300,000,000 authorized (75,091,757 and 75,080,707 shares issued; 69,106,061 and 69,095,011 shares outstanding; as of
September 30, 2023 and December 31, 2022)
Additional paid-in capital
Accumulated deficit
Repurchased stock (5,985,696 shares repurchased as of September 30, 2023 and December 31, 2022)
131
131
691
691
1,815,493
1,808,983
(265,827)
(96,764)
(141,503)
(96,764)
Total KKR Real Estate Finance Trust Inc. stockholders' equity
Noncontrolling interests in equity of consolidated joint venture
1,453,724
(427)
1,571,538
(102)
Total Equity
Total Liabilities and Equity
1,453,297
$
7,625,442
$
1,571,436
7,802,321
(1)
Includes $10 million and $151 million held in collateralized loan obligation as of September 30, 2023 and December 31, 2022, respectively
(2) Includes $30 million of loan repayment proceeds held by a servicer and receivable by KREF as of September 30, 2023
KREF
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