KKR Real Estate Finance Trust is planning to majorly restructure its portfolio this year.
In what was described as a “year of transition” by CEO Matt Salem on KREF’s Q4 earnings call, the mortgage REIT aims to sell off troubled assets on its internal watchlist — struggling loans and most of the properties it owns through foreclosure — so its discounted stock price will be given more value. 
Its portfolio stands at $5.4B, with multifamily and industrial assets accounting for 58%. 
“The goal is to get through and monetize or liquidate the vast majority of that watchlist,” Salem said on the call.
The list includes a…