KKR Breaks Its Loan Record With Property Market ‘Roaring Back’

Bloomberg, July 7, 2021–John Gittelsohn
KKR & Co. has committed to $8 billion in commercial property loans so far in 2021, more than double its previous full-year record, as the pandemic reopening stokes demand for financing. Demand for new loans has revived as construction picks up, debt matures and low interest rates spur refinancing on favorable terms. Total debt on U.S. commercial and multifamily properties increased to $3.93 trillion as of March 31, up 1.1% in the first three months of this year, according to the Mortgage Bankers Association.