NEW YORK–(BUSINESS WIRE)–KKR Real Estate Finance Trust Inc. (NYSE: KREF) today announced the pricing of a public offering of 6,000,000 shares of its 6.50% Series A Cumulative Redeemable Preferred Stock at a public offering price of $25.00 per share. KREF also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of the Preferred Stock at the public offering price, less underwriting discounts and commissions. The Preferred Stock will have a $25.00 per share liquidation preference. KREF will receive gross proceeds of $150,000,000 from the sale of the Preferred Stock before deducting the underwriting discount and other estimated offering expenses. The offering is expected to close on April 16, 2021, subject to customary closing conditions.
KREF intends to use the net proceeds from the offering to acquire its target assets in a manner consistent with its investment strategies and investment guidelines and for general corporate purposes.
KREF intends to file an application to list the Preferred Stock on the New York Stock Exchange under the ticker symbol “KREF PRA.”
Raymond James & Associates, Inc. and KKR Capital Markets LLC are acting as joint book-running managers for the offering.
About KKR Real Estate Finance Trust Inc.
KKR Real Estate Finance Trust Inc. is a real estate finance company that focuses primarily on originating and acquiring senior loans secured by commercial real estate properties. KREF is externally managed and advised by an affiliate of KKR & Co. Inc.
