KREF reports Q1 net loss $0.15/share; Distributable Earnings $0.25/share; CECL up $24.9M

KKR Real Estate Finance Trust Inc.

2025-Q1 EPS reported -$0.15

Net loss of $10.6M ($0.15 diluted EPS); Distributable Earnings of $17.0M ($0.25/share).
CECL allowance increased $24.9M to $144.4M, driven by watchlist multifamily and life science loans.
Originated $376M in four floating-rate loans; funded $374M; liquidity of $720M at quarter end.
Book value per share $14.44; declared $0.25 dividend; repurchased 889K shares at avg $11.03.
Refinanced Term Loan B to $550M at S+3.25%; increased revolver to $660M; added $300M non-mark-to-market facility.

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