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NEW YORK CITY-According to the NAREIT Composite Index, REITs gained 13.5% during the second quarter, while real estate stocks ended June with a year-to-date average total return of 4.9%. San Francisco-based REIT KKR Financial Corp. went public late last month raising approximately $800 million. The specialty finance company invests in residential, corporate, commercial loans and mortgage- and asset-backed securities. KKR Financial was organized in July 2004 and completed an initial private placement of shares common stock the following month. Since raising that initial capital, the company has invested approximately $6.3 billion.

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