KKR Real Estate Finance Trust (US:KREF)2025-07-23 14:00Financial Performance - The company reported a net loss of $354 million, or ($053) per diluted share, which includes a CECL provision of $50 million, or ($074) per diluted share[9, 10] - Distributable loss was ($29) million, or ($004) per diluted share, including a realized loss of $20 million, or ($030) per diluted share[9, 10] - Book Value per Share (BVPS) is $1384, which includes a CECL allowance of $174 million, or ($264) per share as of June 30, 2025, representing 300 basis points of loan principal balance[9] Portfolio Activity - Originated and funded $211 million and $210 million, respectively, relating to two floating-rate loans[9] - The company's loan portfolio is predominantly senior, totaling $58 billion, with a weighted average unlevered all-in yield of 76%[8, 9] - Multifamily and industrial assets represent 62% of the loan portfolio[8, 9] - Received $450 million in loan repayments and funded $20 million for existing loans[9] - The company collected 100% of interest payments[9, 21] Liquidity and Capitalization - Available liquidity is $757 million, including $108 million of cash and $620 million of undrawn capacity on the corporate revolver[8, 9] - Diversified financing sources total $82 billion, with $32 billion of undrawn capacity[8, 9, 34] - 78% of secured financing is fully non-mark-to-market, with the remaining balance marked-to-credit only[8, 9, 35] - Repurchased 2 million shares at an average price of $921 per share, totaling $20 million[9]