Look Who’s Expanding Their CRE Finance Capacity

Matt Salem is co-head of KKR’s Real estate Credit unit

KKR Real Estate’s Senior Loan Originations Grow 109%

NEW YORK CITY–KKR Real Estate Finance Trust’s total originations of senior loans for the last twelve months ended June 19, 2018 reached $2.1 billion, a 109% increase over the same period in 2017, according to the co-CEOs of the unit, Chris Lee and Matt Salem. Year-to-date, KREF has originated eight senior loans totaling $1.1 million, resulting in a $3 billion portfolio.

They revealed these numbers as part of an announcement that the company closed two floating-rate senior loan transactions totaling $378.7 million.

Last month KREF closed a $213.7 million floating-rate senior loan secured by a 474,000 square foot, class-B+ office building in Boston. The loan has a three-year initial term with two one-year extension options, carries a coupon of LIBOR+2.40% and has an appraised LTV of approximately 69%.