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You can identify these forward looking statements by the use of words such as \"outlook,\" \"believe,\" \"expect,\" \"potential,\" \"continue,\" \"may,\" \"should,\" \"seek,\" \"approximately,\" \"predict,\" \"intend,\" \"will,\" \"plan,\" \"estimate,\" \"anticipate,\" the negative version of these words, other comparable words or other statements that do not relate strictly to historical or factual matters. By their nature, forward-looking statements speak only as of the date they are made, are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify, in particular due to the uncertainties created by the COVID-19 pandemic, including the projected impact of COVID-19 on our business, financial performance and operating results. 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. Such forward-looking statements are subject to various risks and uncertainties, including, among other things: the severity and duration of the COVID-19 pandemic; potential risks and uncertainties relating to the ultimate geographic spread of COVID-19; actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact; the potential negative impacts of COVID-19 on the global economy and the impacts of COVID-19 on the Company's financial condition and business operations; deterioration in the performance of the properties securing our investments that may cause deterioration in the performance of our investments and, potentially, principal losses to us; difficulty or delays in redeploying the proceeds from repayments of our existing investments; the general political, economic and competitive conditions in the United States and in any foreign jurisdictions in which the Company invests; the level and volatility of prevailing interest rates and credit spreads; adverse changes in the real estate and real estate capital markets; general volatility of the securities markets in which the Company participates; changes in the Company's business, investment strategies or target assets; difficulty in obtaining financing or raising capital; adverse legislative or regulatory developments; reductions in the yield on the Company's investments and increases in the cost of the Company's financing; acts of God such as hurricanes, earthquakes and other natural disasters, pandemics such as COVID-19, acts of war and/or terrorism and other events that may cause unanticipated and uninsured performance declines and/ or losses to the Company or the owners and operators of the real estate securing the Company's investments; deterioration in the performance of properties securing the Company's investments that may cause deterioration in the performance of the Company's investments and, potentially, principal losses to the Company; defaults by borrowers in paying debt service on outstanding indebtedness; the adequacy of collateral securing the Company's investments and declines in the fair value of the Company's investments; adverse developments in the availability of desirable investment opportunities whether they are due to competition, regulation or otherwise; difficulty in successfully managing the Company's growth, including integrating new assets into the Company's existing systems; the cost of operating the Company's platform, including, but not limited to, the cost of operating a real estate investment platform and the cost of operating as a publicly traded company; the availability of qualified personnel and the Company's relationship with our Manager; KKR controls the Company and its interests may conflict with those of the Company's stockholders in the future; the Company's qualification as a REIT for U.S. federal income tax purposes and the Company's exclusion from registration under the Investment Company Act of 1940; authoritative GAAP or policy changes from such standard-setting bodies such as the Financial Accounting Standards Board, the Securities and Exchange Commission (the \"SEC\"), the Internal Revenue Service, the New York Stock Exchange and other authorities that the Company is subject to, as well as their counterparts in any foreign jurisdictions where the Company might do business; and other risks and uncertainties, including those described under Part I-Item 1A. \"Risk Factors\" of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and under Part II Item 1A. \"Risk Factors\" of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. 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Diego, CA Multifamily 2/3/2020 102.3 102.3 20.8 L + 3.3% 4.4 $ 442,965/unit 71% 4\n24 Senior Loan New York, NY Condo (Resi) 8/4/2017 101.7 101.7 67.8 L + 4.7% 1.0 $ 1,720/SF 53% 4\n25 Senior Loan State College, PA Student Housing 10/15/2019 93.4 69.6 17.2 23.8 L + 2.7% 4.1 $ 54,762/bed (9) 64% 3\n26 Senior Loan Seattle, WA Multifamily 9/7/2018 92.3 92.3 16.8 L + 2.6% 2.9 $ 515,571/unit 76% 3\n27 Senior Loan Los Angeles, CA Multifamily 12/11/2019 91.0 91.0 19.0 L + 2.8% 2.3 $ 421,296/unit 72% 3\n28 Senior Loan New York, NY Multifamily 3/29/2018 86.0 86.0 14.5 L + 2.6% 2.5 $ 462,366 / unit 48% 3\n29 Senior Loan Seattle, WA Office 3/20/2018 80.7 80.7 14.6 L + 3.6% 2.5 $ 473/SF 61% 3\n30 Senior Loan Philadelphia, PA Multifamily 10/30/2018 77.0 77.0 13.0 L + 2.7% 3.1 $ 150,980/unit 73% 3\n31 Senior Loan Brooklyn, NY Hospitality 1/18/2019 76.4 76.4 16.0 L + 2.9% 3.4 $389,578/key 69% 4\n32 Senior Loan Herndon, VA Multifamily 12/23/2019 73.9 73.0 11.9 0.9 L + 2.5% 4.3 $ 248,395/unit 72% 3\n33 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Core Earnings is a measure that is not prepared in accordance with GAAP. The Company defines Core Earnings for reporting purposes as net income (loss) attributable to stockholders or, without duplication, owners of the Company's subsidiaries, computed in accordance with GAAP, including realized losses not otherwise included in GAAP net income (loss) and excluding (i) non-cash equity compensation expense, (ii) depreciation and amortization, (iii) any unrealized gains or losses or other similar non-cash items that are included in net income for the applicable reporting period, regardless of whether such items are included in other comprehensive income or loss, or in net income, and (iv) one-time events pursuant to changes in GAAP and certain material non-cash income or expense items after discussions between the Company's Manager and board of directors and after approval by a majority of the independent directors. 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