---
schema_version: "secwatch.filing_event.v1"
accession: "0001631596-25-000018"
form_type: "8-K"
ticker: "KREF"
cik: "0001631596"
company_name: "KKR Real Estate Finance Trust Inc."
filed_at: "2025-04-23T23:59:59+00:00"
generated_at: "2026-05-23T08:11:42.200068+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001631596-25-000018
- form_type: 8-K
- ticker: KREF
- cik: 0001631596
- company_name: KKR Real Estate Finance Trust Inc.
- filed_at: 2025-04-23T23:59:59+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/1631596/000163159625000018/0001631596-25-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1631596/000163159625000018/kref-20250423.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001631596-25-000018
- JSON: https://secwatch.observer/filing/0001631596-25-000018.json
- Plain text: https://secwatch.observer/filing/0001631596-25-000018.txt

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