NEW YORK--(BUSINESS WIRE)--
KKR Real Estate Finance Trust Inc. (NYSE: KREF) today announced the
Company priced KREF 2018-FL1 Ltd., a $1.0 billion managed Commercial
Real Estate Collateralized Loan Obligation (“CRE CLO”) on November 7,
2018. This transaction represents the largest managed CRE CLOs issued to
date by a publicly-traded mortgage REIT sponsor. The Company placed
$810.0 million of securities rated AAA through BBB- providing KREF with
match-term financing on a non-mark-to-market and non-recourse basis. The
CRE CLO features a two-year reinvestment period with an 81% advance rate
at a weighted average running cost of capital of L+1.36% (before
amortized costs). The transaction is expected to close on or around
November 28, 2018, subject to customary closing conditions.
About KREF
KKR Real Estate Finance Trust Inc. (NYSE:KREF) is a real estate finance
company that focuses primarily on originating and acquiring senior loans
secured by commercial real estate properties. KREF is externally managed
and advised by an affiliate of KKR & Co. Inc. For additional information
about KREF, please visit KREF’s website at www.kkrreit.com.
Forward-Looking Statements
This release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which
reflect the Company’s current views with respect to, among other things,
its future operations and financial performance. The forward-looking
statements are based on the Company’s beliefs, assumptions and
expectations, taking into account all information currently available to
it. These beliefs, assumptions and expectations can change as a result
of many possible events or factors, not all of which are known to the
Company or are within its control, including those described under the
section entitled "Risk Factors" in KREF’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2017, accessible on the SEC’s website
at www.sec.gov.
Accordingly, actual outcomes or results may differ materially from those
indicated in this release. All forward looking statements in this
release speak only as of the date of this release. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as required by law.
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For KKR
MEDIA:
Kristi Huller or Cara Major
(212)
750-8300
[email protected]
or
INVESTOR
RELATIONS:
Sasha Hamilton
(212) 401-0447
[email protected]
Source: KKR Real Estate Finance Trust Inc.
