KREF Liquidity and Portfolio Overview

Case Studies: Watch List Loans (Risk Rating 4) Investment Washington, D.C. Office Boston Office Washington, D.C. Office Loan Type Floating-Rate Senior Loan Investment Date November 2021 Floating-Rate Senior Loan February 2021 Floating-Rate Senior Loan December 2019 West Hollywood Multifamily Floating-Rate Senior Loan January 2022 Collateral Class-A Office totaling 357k SF Class-A Office totaling 741k SF Class-A Office totaling 204k SF 37-unit Class-A Multifamily Loan Purpose Location Refinance Refinance Refinance Refinance Washington, D.C. Boston, MA Washington, D.C. West Hollywood, CA Committed Amount $188 million $188 million (1) $176 million $107 million Current Principal Amount Loan Basis $176 million $188 million (1) $169 million $492 / SF $506 / SF Coupon + 3.4% + 3.4% $828/ SF + 3.5% $104 million $2,797,812 / unit + 3.1% Max Remaining Term (Yrs.) Loan Risk Rating 3.2 2.4 1.3 3.4 4 4 4 4 Amounts include $150 million of non-consolidated senior interest. KREF's retained mezzanine position is $38 million (1) KREF 23

View entire presentation