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Collateralized Loan Obligations (Tables)
 12 Months Ended
Dec. 31, 2021
Transfers and Servicing [Abstract]  
Schedule of Collateral Assets and Respective Borrowings
The following tables outline CLO collateral assets and respective borrowing as of December 31, 2021 and 2020:

December 31, 2021
KREF 2021-FL2
 Count Outstanding Principal Amortized Cost Carrying ValueWtd. Avg. Yield/Cost
Wtd. Avg. Term(B)
Collateral assets(A)
20$1,300,000 $1,300,000 $1,296,745 
L + 3.4%
June 2025
Financing provided11,095,250 1,087,976 1,087,976 
L + 1.7%
February 2039
December 31, 2020
KREF 2018-FL1
 Count Outstanding Principal Amortized Cost Carrying ValueWtd. Avg. Yield/Cost
Wtd. Avg. Term(B)
Collateral assets(A)
21$1,000,000 $1,000,000 $997,336 
L + 2.9%
March 2024
Financing provided1810,000 810,000 810,000 
L + 1.4%
June 2036

(A)    Including $54.0 million cash held in CLO as of December 31, 2021. Collateral loan assets represent 19.6% and 20.5% of the principal of KREF's commercial real estate loans as of December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020, 100% of KREF loans financed through the CLOs are floating rate loans.
(B)    Loan term represents weighted-average final maturity, assuming extension options are exercised by the borrower. Repayments of CLO notes are dependent on timing of related collateral loan asset repayments post reinvestment period. The term of the CLO notes represents the rated final distribution date.
Schedule of Assets and Liabilities Included in Consolidated Balance Sheet
The following table presents the CLO Assets and Liabilities included in KREF’s Consolidated Balance Sheets:

KREF 2021-FL2
KREF 2018-FL1
AssetsDecember 31, 2021December 31, 2020
Cash$54,000 $— 
Commercial real estate loans, held-for-investment1,246,000 1,000,483 
Less: Allowance for credit losses(3,255)(2,669)
Commercial real estate loans, held-for-investment, net1,242,745 997,814 
Accrued interest receivable3,091 3,075 
Other assets766 5 
Total$1,300,602 $1,000,894 
Liabilities
Collateralized loan obligations, net(A)
$1,087,976 $810,000 
Accrued interest payable852 668 
Accounts payable, accrued expenses and other liabilities— 72 
Total$1,088,828 $810,740 

(A)     Unamortized deferred financing costs related to KREF 2021-FL2 were $7.3 million as of December 31, 2021. Deferred financing costs related to KREF 2018-FL1 were fully amortized as of December 31, 2020.
Schedule of Net Interest Income Included in Consolidated Statement of Income
The following table presents the components of net interest income of CLOs included in KREF’s Consolidated Statements of Income:

For the Year Ended December 31,
20212020
Net Interest Income
  Interest income$48,296 $45,617 
  Interest expense(A)
14,876 22,723 
    Net interest income$33,420 $22,894 

(A)     Net of interest expenses on internally held CLO notes. Includes $1.7 million and $6.8 million of deferred financing costs amortization for the years ended December 31, 2021 and 2020, respectively.