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  "documentTitle": "KKR Real Estate Finance Trust | Results Presentation Deck | 26 slides",
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  "authorName": "KKR Real Estate Finance Trust",
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  "presentationDate": "2023-02-01 00:00:00",
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      "text": "$7.9 billion predominantly senior loan portfolio\nMultifamily and industrial assets represent 57% of loan portfolio\nWeighted average risk rating of 3.2\nReceived $1.3 billion in loan repayments and collected 100% of interest payments due in 2022\nMonitoring six watch list loans, including five office assets",
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      "text": "4Q and full year 2022 Net Income(1) of $0.21 and $0.23 per diluted share (includes a CECL provision of $21 million and $112 million, or ($0.31) and ($1.66) per diluted share, respectively)\n4Q and full year 2022 Distributable Earnings(2) of $0.18 and $1.62 per diluted share (includes a write-off of $25 million, or ($0.36) and ($0.37) per diluted share, respectively)\nBook Value per Common Share (\"BVPS\") of $18.00 per share, compared to $18.28 per share as of 3Q'22 (includes a CECL allowance of $111 million, or ($1.61) per share, representing 147 basis points of loan principal balance)",
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      "text": "As of year-end 2022, $952 million of available liquidity, including $240 million of cash, $610 million undrawn capacity on the corporate revolver and $102 million of available borrowings based on existing collateral\n77% of secured financing is fully non-mark-to-market and the remaining balance is mark-to-credit only\nClosed a $1.0 billion managed multifamily CLO with two-year reinvestment period providing $848 million of non-mark-to-market and non-recourse financing equating to an 84.75% advance rate, at a weighted average cost of capital of Term SOFR+1.71% before transaction costs\nEntered into three new asset specific financing facilities totaling $491 million, which provide non-recourse match-term asset-based financing on a non-mark-to-market basis\nIncreased the borrowing capacity on the corporate revolving credit facility (\"Revolver\") by $275 million to $610 million and extended the maturity date through March 2027\nIssued 6,210,000 shares of 6.5% Series A Cumulative Redeemable Preferred Stock (the \"Series A Preferred Stock\"), at a liquidation price of $25.00 per share, and received net proceeds of $151 million\nCompleted two underwriting public offerings totaling 9,244,155 shares of common stock, resulting in net proceeds of $188 million, before transaction costs\nRepurchased 0.5 million shares at an average price per share of $16.41 for a total of $7 million in 4Q'22; KREF repurchased 2.1 million shares of common stock at an average price of $17.13 for a total of $36 million in the full year 2022",
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      "text": "4Q originations of three floating-rate senior loans totaling $370 million with $207 million of initial fundings\nFull year 2022 originations of 25 floating-rate senior loans totaling $2.7 billion with $1.8 billion of initial fundings\n69% of 2022 originations secured by multifamily or industrial properties",
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      "text": "(1) Represents Net Income attributable to common stockholders\n(2) See Appendix for definition and reconciliation to financial results prepared in accordance with GAAP",
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      "text": "Fourth Quarter and Full Year 2022 Highlights",
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