{
  "docId": "019de518-1214-768a-92ad-49bd1cd77980",
  "docSlug": "785f0e9075eb5c3221deaa721a6862f5",
  "documentTitle": "KKR Real Estate Finance Trust | Results Presentation Deck | 28 slides",
  "authorId": "kkr-real-estate-finance-trust",
  "authorName": "KKR Real Estate Finance Trust",
  "documentKindSlug": "shareholder-letter",
  "documentKindLabel": "Shareholder letter",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-02-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 4,
  "pageCount": 28,
  "prevPage": 3,
  "nextPage": 5,
  "slideType": "kpi_overview",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 30,
  "notes": null,
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de518-1214-768a-92ad-49bd1cd77980/4",
  "deckHref": "/decks/019de518-1214-768a-92ad-49bd1cd77980",
  "deckJsonHref": "/decks/019de518-1214-768a-92ad-49bd1cd77980.json",
  "deckAnchorHref": "/decks/019de518-1214-768a-92ad-49bd1cd77980#slide-4",
  "components": [
    {
      "bbox": {
        "h": 0.017,
        "w": 0.649,
        "x": 0.303,
        "y": 0.542
      },
      "kind": "list",
      "text": "Received $188 million and $767 million in loan repayments in 4Q and during the full year 2023",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0c4efc4a-6e42-45aa-91a3-97675c123cd8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.667,
        "x": 0.287,
        "y": 0.738
      },
      "kind": "list",
      "text": "76% of secured financing is fully non-mark-to-market and the remaining balance is mark-to-credit only",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1fe035a1-171b-46b3-8b7d-540ce7da0605",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.667,
        "x": 0.287,
        "y": 0.716
      },
      "kind": "list",
      "text": "Diversified financing sources totaling $8.9 billion with $2.8 billion of undrawn capacity",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2db42b03-fbfc-42f3-9fc1-8bfdaabbdef4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.21,
        "x": 0.303,
        "y": 0.498
      },
      "kind": "list",
      "text": "Weighted average risk rating of 3.2",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3ed51176-a8da-4ea6-996a-ce7e079555a2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.667,
        "x": 0.287,
        "y": 0.21
      },
      "kind": "list",
      "text": "4Q and full year Distributable Earnings (Loss)(2) of ($0.37) and $0.83 per diluted share (includes write-offs of $59 million and $74 million, or ($0.85) and ($1.07) per diluted share, respectively)",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "54d1c2d0-ac59-4e72-a47d-7a11ba437bce",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.49,
        "x": 0.303,
        "y": 0.586
      },
      "kind": "list",
      "text": "Monitoring seven watch list loans, including three office assets",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6ccd852c-8235-439f-a4ea-bea001699bee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.649,
        "x": 0.303,
        "y": 0.52
      },
      "kind": "list",
      "text": "Funded $139 million and $684 million for loans closed in previous years in 4Q and during the full year 2023",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "76eaf96b-ebab-4605-8924-29ce41e4fdce",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.667,
        "x": 0.287,
        "y": 0.454
      },
      "kind": "list",
      "text": "$7.8 billion predominantly senior loan portfolio with a weighted average unlevered all-in yield(3) of 9.0%",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7dc4daff-4303-46f5-bf43-6d63ff72c7f7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.46,
        "x": 0.303,
        "y": 0.476
      },
      "kind": "list",
      "text": "Multifamily and industrial assets represent 55% of loan portfolio",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "84c91fb8-908f-47b6-a8d5-1bb5726f6322",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.37,
        "x": 0.287,
        "y": 0.782
      },
      "kind": "list",
      "text": "Repaid $144 million convertible notes in cash",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "86c6ac33-6169-41d0-80e6-43c0807b78cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.667,
        "x": 0.287,
        "y": 0.76
      },
      "kind": "list",
      "text": "Upsized a $240 million term credit facility to $400 million and extended the final maturity date to December 2027",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "87411cf2-22d8-4130-9bb1-be488d8e8863",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.667,
        "x": 0.287,
        "y": 0.256
      },
      "kind": "list",
      "text": "Book Value per Share (\"BVPS\") of $15.52 per share, compared to $16.29 per share as of 3Q'23 (includes a CECL allowance of $213 million, or ($3.06) per share as of December 31, 2023, representing 288 basis points of loan principal balance)",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "988a4900-56f8-4b9c-9284-9f9754076604",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.046,
        "w": 0.667,
        "x": 0.287,
        "y": 0.164
      },
      "kind": "list",
      "text": "4Q and full year 2023 Net Income (Loss)(1) of ($0.27) and ($0.78) per diluted share (includes a CECL provision of $50 million and $175 million, or ($0.71) and ($2.53) per diluted share, respectively)",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9e32cb1e-33d6-4583-9780-048254cbd22e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.667,
        "x": 0.287,
        "y": 0.326
      },
      "kind": "list",
      "text": "The Company's Board of Directors declared a dividend of $0.25 per share of common stock with respect to the first quarter of 2024. The dividend is payable on April 15, 2024 to KREF's common stockholders of record as of March 28, 2024",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ca936c1d-a141-4d45-83bd-4b65e33850d7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.45,
        "x": 0.287,
        "y": 0.804
      },
      "kind": "list",
      "text": "No corporate debt or final facility maturities due until 1Q'26",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d960c86a-5a8c-4a1e-990c-f702b93d3fad",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.667,
        "x": 0.287,
        "y": 0.684
      },
      "kind": "list",
      "text": "$630 million of available liquidity, including $136 million of cash and $450 million undrawn capacity on the corporate revolver",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f44be28c-2c83-439a-a442-01470a014b47",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.017,
        "w": 0.34,
        "x": 0.303,
        "y": 0.564
      },
      "kind": "list",
      "text": "Collected 98% of interest payments during 2023",
      "attrs": {},
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f6fcce1b-8b65-4433-9acb-47dbb409ca7a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.46,
        "x": 0.079,
        "y": 0.884
      },
      "kind": "subtitle",
      "text": "Represents Net Income or loss attributable to common stockholders",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2f92b404-b7c9-471e-9252-c87b4a54f7dd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.87,
        "x": 0.079,
        "y": 0.912
      },
      "kind": "subtitle",
      "text": "Includes the amortization of deferred origination fees, loan origination costs and purchase discounts, and excludes loans accounted for under the cost recovery method",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b9ccc079-96bd-4724-be5c-45542fe07338",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.013,
        "w": 0.59,
        "x": 0.079,
        "y": 0.898
      },
      "kind": "subtitle",
      "text": "See Appendix for definition and reconciliation to financial results prepared in accordance with GAAP",
      "attrs": {},
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb8571b7-521e-4661-8b2d-ab0c86db4ae5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.036,
        "w": 0.704,
        "x": 0.059,
        "y": 0.06
      },
      "kind": "title",
      "text": "Fourth Quarter and Full Year 2023 Highlights",
      "attrs": {},
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ad399608-1b9e-447a-bcf6-f958ebc38cd2",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "List presentation",
      "slug": "list-presentation",
      "agent": null,
      "layer": "slide",
      "matchId": "21bad9bb-bdc4-4dc9-bbcf-dd3f7e8ddea6",
      "evidence": "list/bullet: Book Value per Share (\"BVPS\") of $15.52 per share, compared to $16.29 per share as of 3Q'23",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}