KKR Real Estate Finance Trust Navigates 'Transition Year' After Q4 Loss, Bolsters Liquidity Amid Credit Strain
KKR Real Estate Finance Trust (KREF) reported a Q4 2025 net loss of $32 million, driven by increased credit provisions. Management outlined a strategic pivot for 2026, emphasizing aggressive asset resolutions, portfolio repositioning, and a fortified $880 million liquidity position to weather ongoing market shifts.