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  "notes": "Includes footnotes regarding loan repayment proceeds and expected loss reserves.",
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      "text": "(1) Includes $8.2 million and $15.9 million of loan repayment proceeds held by the servicer and receivable by KREF, as of September 30, 2021 and December 31, 2020, respectively. (2) Includes $0.9 million of expected loss reserve for unfunded loan commitments.",
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