KKR Real Estate Finance Trust (KREF) - 2021 Q3 - Earnings Call Presentation

Financial Highlights - Q3 Net income was $0.57 per diluted share, and Distributable Earnings were $0.62 per diluted share, resulting in a 144% dividend coverage[11] - Book Value per Common Share (BVPS) increased for six consecutive quarters, reaching $19.09 per share, compared to $18.91 in Q2 2021[11] - The company benefited from $6.4 million, or $0.09 per diluted share, due to the acceleration of loan and prepayment fees related to loan repayments[11] Portfolio Activity - Originated eight floating-rate senior loans totaling $1.5 billion, with initial fundings of $1.1 billion[12] - Subsequent to quarter-end, originated three floating-rate senior loans totaling $333.3 million[12] - The portfolio consists of predominantly senior loans, totaling $5.8 billion, with multifamily and office assets representing 71% of the loan portfolio[12] - Received $934.9 million in loan repayments[12] Liquidity and Capitalization - Available liquidity stands at $516.2 million, including $307.7 million in cash and $185.0 million undrawn on the corporate revolver[13] - 81% of financing is fully non-mark-to-market[13] - Closed a $1.30 billion managed CLO with a two-year reinvestment period, providing $1.1 billion of non-mark-to-market financing at an 84.25% advance rate and a weighted average cost of capital of L+1.30% before transaction costs[12]