KKR Real Estate Finance Trust Inc. Completes Public Offering of Common Stock

NEW YORK–(BUSINESS WIRE)–KKR Real Estate Finance Trust Inc. (“KREF”) (NYSE: KREF) today announced
the closing of its previously announced underwritten public offering of
5,000,000 shares of its common stock (the “Shares”). KREF received net
proceeds, after deducting estimated offering expenses, of approximately
$99.1 million.

KREF intends to use the net proceeds from the offering to acquire its
target assets in a manner consistent with its investment strategies and
investment guidelines and for general corporate purposes.

Citigroup, J.P. Morgan and Wells Fargo Securities acted as the
underwriters for the offering.

A shelf registration statement on Form S-3, including a prospectus,
related to the Shares has been filed by KREF with the U.S. Securities
and Exchange Commission (“SEC”) and has become effective. The offering
was made only by means of a prospectus supplement and the accompanying
prospectus, copies of which may be obtained from Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 (Tel: 800-831-9146); or J.P. Morgan, Attention: Prospectus
Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, New York 11717, or by calling toll-free at (866) 803-9204; or
from Wells Fargo Securities, LLC, Attention: Equity Syndicate at 375
Park Avenue, New York, NY 10152-4077, or by calling (800) 326-5897, or
by email: cmclientsupport@wellsfargo.com,
or by visiting the SEC’s website at www.sec.gov
under KREF’s name.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or

About KREF

KREF is a real estate investment trust that primarily originates or
acquires senior loans. KREF is externally managed and advised by KKR
Real Estate Finance Manager LLC, a registered investment adviser and an
indirect subsidiary of KKR & Co. Inc.

This press release contains certain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as “assumptions,” “target,” “guidance,”
“outlook,” “plans,” “projection,” “may,” “will,” “would,” “should,”
“seeks,” “expect,” “intend,” “estimate,” “anticipate,” “believe,”
“potential” or “continue” (or the negative or other derivatives of each
of these terms) or similar expressions that concern KREF’s operations,
strategy, projections or intentions. These “forward-looking” statements
include statements relating to, among other things, the expected use of
the net proceeds from the offering. Forward-looking statements are
subject to a number of risks and uncertainties, many of which involve
factors or circumstances that are beyond KREF’s control. These and other
important risk factors are discussed under the heading “Risk Factors” in
KREF’s Annual Report on Form 10-K for the fiscal year ended December 31,
2017, as such factors may be updated from time to time in KREF’s other
periodic filings with the SEC. KREF’s actual results could differ
materially from those stated or implied in forward-looking statements.
Except as required by law, KREF undertakes no obligation to update or
revise any forward-looking statements KREF makes in its press releases,
whether as a result of new information, future events or otherwise.


KKR Real Estate Finance Trust Inc.
Huller or Cara Major

Sasha Hamilton, 212-401-0447