New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
KKR Mortgage REIT Finances West Side Multifamily
KKR Real Estate Finance Trust (KREF) capped an active March with an $86-million senior loan on a 186-unit New York City multifamily property. KREF didn’t identify the borrowers. An announcement from HFF says they were the developers of the recently opened Lewis rental building, at 411 W. 35th St. near Hudson Yards.
In total, the mortgage REIT closed on four floating-rate senior loan transactions totaling $335.9 million in March. Along with the Manhattan apartment property, loans were also closed on multifamily assets in Westbury, NY and Orlando, as well as an office building in Seattle.
“We have had an active start to 2018, with five new loan originations totaling $411 million of total commitments in the first quarter,” said KREF co-CEOs Chris Lee and Matt Salem. “We are encouraged by our forward pipeline and the opportunity to continue to make attractive investments and scale our investment portfolio throughout the remainder of 2018.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
