KREF Q4 net income $35.2M ($0.59/sh); record 2021 originations $4.8B; book value $19.37

KKR Real Estate Finance Trust Inc.

2021-FY EPS reported $2.21

Q4 net income $35.2M ($0.59/sh); DE ($2.9M) incl. $32.1M realized loss on loan write-off.
Full-year net income $125.6M ($2.21/sh); DE $92.4M ($1.63/sh).
Record 2021 originations $4.8B (428% vs 2020); Q4 originations $1.8B, 18 floating-rate loans at L+3.0%, 68% LTV.
Completed common equity offering of 5.5M shares at $21.76, net $120.4M, $0.22 accretive to book value.
Portfolio 100% performing, 100% floating-rate, $6.7B funded; closed $1.3B CLO and $350M term loan at improved L+3.50%.

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