KKR Real Estate Finance Trust Inc.: Update to credit analysis following change in outlook to negative
Our credit view of this issuer reflects its CRE concentration, including office exposure, and weakening asset quality offset by its adequate capitalization and affiliation with KKR.KKR Real Estate Finance Trust is a holding company. Through its subsidiaries, the company is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by Commercial Real Estate (CRE) properties. The company's target assets also include mezzanine loans, preferred equity and other debt-oriented instruments. The company has a portfolio of diversified investments, consisting of performing senior loans, mezzanine loans, preferred equity and commercial mortgage-backed securities B-Pieces. The company is externally managed by its manager, KKR Real Estate Finance Manager LLC, an indirect subsidiary of KKR & Co. L.P.
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