KREF Liquidity and Portfolio Overview
Case Studies: Largest Three Multifamily Loans
(1)
(2)
Investment
Loan Type
Investment Date
Collateral
Location
Committed Amount
Current Principal Amount
Basis
Coupon (1)
LTV(2)
Max Remaining Term (Yrs.)
Asset Photos
Arlington Multifamily
Floating-Rate Senior Loan
Los Angeles Multifamily
Floating-Rate Senior Loan
Sunbelt Multifamily Portfolio
Floating-Rate Senior Loan
September 2021
912-unit Class-B+ and 198-unit
Class-A Multifamily
Arlington, VA
February 2021
536-unit
Class-A Multifamily
Los Angeles, CA
May 2019
3-Property, 1,070-unit
Class-A Multifamily
Various
$381 million
$220 million
$369 million
$220 million
$332k/unit
+ 3.3%
69%
$410k/ unit
+ 2.9%
68%
$207 million
$207 million
$193k/unit
+ 4.0%
74%
3.0
2.4
1.7
CINSTAL TOWERS
Coupon expressed as spread over Term SOFR
LTV is generally based on the initial loan amount divided by the as-is appraised value as of the date the loan was originated or by the current principal amount as of the date of the most recent as-is appraised
value. Please refer to the Appendix for more information on how LTV is calculated
KREF
18View entire presentation