REAL ESTATE CREDIT OVERVIEW

KKR Real Estate Credit was formed in January 2015 to invest in real estate credit products and complement KKR Real Estate’s private equity platforms. Within KKR Real Estate Credit, we seek opportunities where we have a sourcing, underwriting or execution advantage by leveraging KKR’s brand, industry knowledge and relationships. KKR Real Estate Credit currently invests through six separately capitalized vehicles across our Direct Lending and Securities portfolios and consists of 50+ dedicated professionals based in New York, San Francisco, Houston and Dallas.

KKR has developed a dedicated services platform, K-Star Asset Management LLC (“K-Star”), to support asset management, loan origination, securities investing, risk management and client experience for its real estate credit franchise as it continues to scale. The K-Star team will include industry specialists to oversee special servicing, stabilized loan asset management, transitional loan asset management, and investment oversight across KKR’s real estate credit portfolio.

POSITION OVERVIEW

K-Star is seeking a 2024 Summer Intern to work full-time during a 10-week internship in June, July, and August 2024. The Summer Intern will be exposed to many facets of K-Star and their responsibilities will include, but not be limited to, the tasks associated with the oversight and reporting on a portfolio of loans secured by stabilized, light transitional and construction projects located throughout the United States. The Summer Intern will also be expected to participate in special projects and assignments related to the growth of the platform as deemed necessary and appropriate by their manager. With the goal of developing strong process creation and execution skills, this Summer Intern must be an exceptional communicator and demonstrate the ability to build strong working relationships across the various KKR businesses, including the Firm’s real estate credit originations, legal, finance, and asset management teams. If the Summer Intern exhibits exceptional performance, a full-time offer of employment may be extended for immediate start following the conferment of a Bachelor’s degree.

ROLE AND RESPONSIBILITIES

• Monitor portfolio performance for potential adverse credit issues and trend analyses
• Review and analyze monthly and/or quarterly financial statements and rent rolls with comparison against underwriting and budgets
• Monitor national, regional and local market dynamics to assess tenant credit risks and concentrations
• Interpret complex loan documents to confirm and track satisfaction of relevant loan terms and covenants
• Prepare and review asset performance reports to company management and other investor parties
• Evaluate and review draw requests, lease approvals, loan modifications and various other borrower requests and periodic underwriting of collateral
• Manage special projects, including implementation of new technologies to support K-Star’s platform

QUALIFICATIONS

• Anticipated graduation in December 2024 – June 2025 with a Bachelor’s degree from an undergraduate college or university
• Expressed interest in commercial real estate via academic major or student group/club involvement
• Outstanding academic record and proficiency with Microsoft Excel, Word, PowerPoint and Outlook
• Aptitude for critical and creative thinking across the quantitative and qualitative spectrum
• Self-starter; comfortable in an entrepreneurial environment
• Ability to learn quickly with clear intellectual curiosity and self-motivation
• Excellent communication skills
• Team-oriented
• Ability to multi-task, prioritize, and work both independently and within teams
• Strong attention to detail
• Creative problem-solving skills
• Demonstrated leadership ability
• Exceptional work ethic and sense of urgency

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