KKR Real Estate Finance Trust Inc.

KREF is a real estate finance company that originates and acquires transitional senior loans secured by institutional-quality commercial real estate properties. These properties are owned and operated by experienced and well-capitalized sponsors and are located in top markets with strong underlying fundamentals. The company's target assets also include mezzanine loans, preferred equity, and other debt-oriented instruments with similar characteristics. KREF's investment objective is capital preservation and generating attractive risk-adjusted returns for stockholders over the long term, primarily through dividends. KREF began investment activities in October 2014 with an initial commitment of $400.0 million from KKR. The company raised an additional $438.1 million in equity commitments from third-party investors and certain current and former employees of, and consultants to, KKR, bringing the total committed capital base to $838.1 million. This capital was fully drawn prior to its initial public offering, which generated net proceeds of $225.9 million on May 5, 2017. As of December 31, 2025, KREF had a common book value of $844.8 million and a diversified investment portfolio totaling $5,924.2 million, primarily consisting of performing senior commercial real estate loans. KREF operates as a holding company, externally managed by an indirect subsidiary of KKR. The business primarily operates through various subsidiaries in a single segment that originates, acquires, and finances its target assets. KREF conducts its operations as a REIT for federal income tax purposes and is traded on the NYSE under the symbol "KREF." The company was incorporated in Maryland on October 2, 2014.