KKR Real Estate Finance Trust Inc. (NYSE:KREF) Q1 2024 Earnings Call Transcript

Jade Rahmani: Thanks. That’s helpful.

Operator: [Operator Instructions] The next question is from Don Fandetti from Wells Fargo. Please go ahead.

Don Fandetti: Patrick, the two remaining Philly assets that you said you could possibly announce the sale, is that indicative of more capital coming in for real estate, or is that more you just saying, hey, it makes sense, let’s clear the deck?

Patrick Mattson: Hey, Don, Patrick. Yeah, I think it’s a couple of things. I think there are signs in certain markets where when real estate gets to a certain value, that there’s interest. Those two assets that we were — and obviously have the ability to hold longer term. One is a well-occupied office and the other is a parking garage. And I think when you talk about that profile deal, even in this market, there’s interest. And so, I think as we indicated, we’ll see how that transpires over the quarter, but we do think there is some possibility to sell both of those properties.

Don Fandetti: Thanks.

Operator: Thank you. And ladies and gentlemen, this concludes our question-and-answer session. I would like to turn the conference back over to Jack Switala for any closing remarks.

Jack Switala: Great. Thanks, operator, and thanks, everyone, for joining today. Please reach out to me or the team here if you have any questions. Take care.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.