The head of private equity house KKR’s commercial mortgage REIT has hailed a “quick return to offence” in the business.
US-based KKR Real Estate Finance Trust originated $565.4m (£415.8m) in new lending during the final quarter of 2020 across seven floating-rate loans, taking its lending portfolio to more than $5bn.
Chief executive Matt Salem, who is also KKR’s group head of real estate credit, said: “2020 was an unprecedented period. We began the year with a high-quality and defensive portfolio combined with conservative liabilities. This positioning, along with active management during the year, contributed to our quick return to offence during the fourth quarter with seven new originations.”
The firm’s largest loan during the period was a $160m funding line for an office in California.
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