---
schema_version: "secwatch.filing_event.v1"
accession: "0001631596-23-000041"
form_type: "8-K"
ticker: "KREF"
cik: "0001631596"
company_name: "KKR Real Estate Finance Trust Inc."
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T16:46:15.172414+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# KREF reports Q3 net income $0.31/sh, distributable earnings $0.25/sh; Chicago loan restructured with $15M write-off

## Summary
- Net income of $21.4M ($0.31 diluted EPS) vs. net loss of ($25.8M) in Q2 2023.
- Distributable earnings of $17.4M ($0.25/sh) down from $33.1M ($0.48/sh) in Q2; includes $15M subordinated note write-off.
- Book value per share $16.29 vs $16.38 in Q2; CECL allowance $221.7M ($3.21/sh).
- Restructured $103.4M senior office loan in Chicago; wrote off $15M subordinated note.
- Portfolio: $7.9B loans, 99% floating rate, 8.9% all-in yield, 65% LTV; 96% interest collected.

## SEC filing metadata
- accession: 0001631596-23-000041
- form_type: 8-K
- ticker: KREF
- cik: 0001631596
- company_name: KKR Real Estate Finance Trust Inc.
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1631596/000163159623000041/0001631596-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1631596/000163159623000041/kref-20231023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001631596-23-000041
- JSON: https://secwatch.observer/filing/0001631596-23-000041.json
- Plain text: https://secwatch.observer/filing/0001631596-23-000041.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.