UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~September 8~~October 21, 2025

KKR Real Estate Finance Trust Inc.

(Exact name of registrant as specified in its charter)

Maryland

001-38082

47-2009094

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

30 Hudson Yards,

Suite 7500

New York,

New York

10001

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (212) 750-8300


			Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

KREF

New York Stock Exchange

6.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share

KREF PRA

New York Stock Exchange

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.01 per share	KREF	New York Stock Exchange
6.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share	KREF PRA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 12.0102 Results ~~Entry~~of ~~into~~Operations aand ~~Material~~Financial ~~Definitive Agreement~~Condition.

~~Amendment~~On toOctober 21, ~~Senior~~2025, ~~Secured~~KKR ~~Credit~~Real ~~Facility~~Estate Finance Trust Inc. (the “Company”) issued an earnings release and supplemental financial information announcing its financial results for the quarter ended September 30, 2025. The earnings release and supplemental financial information are furnished as Exhibit 99.1 and Exhibit 99.2, respectively, hereto and are incorporated herein by reference.

OnThe ~~September~~information 8,in ~~2025,~~Item 2.02 ~~KREF~~of ~~Holdings~~this XCurrent ~~LLC~~Report, ~~(“KREF~~including ~~X”),~~Exhibits a99.1 ~~wholly~~and ~~owned~~99.2, ~~subsidiary~~is ofbeing ~~KKR Real~~furnished ~~Estate~~and ~~Finance~~shall ~~Trust~~not ~~Inc.~~be ~~(the~~deemed “~~Company~~filed”), ~~and~~for ~~certain~~purposes ~~specified~~of ~~subsidiaries~~Section 18 of the ~~Company~~Securities ~~entered~~Exchange ~~into~~Act ~~Amendment~~of ~~No.~~1934, 1as amended (the “~~Amendment~~Exchange Act”) to, ~~the~~or ~~Term~~otherwise ~~Loan~~subject ~~Credit~~to ~~Agreement,~~the ~~dated~~liabilities as of ~~March~~that 5,Section. ~~2025,~~The ~~among~~information ~~KREF~~in X,this asCurrent ~~borrower,~~Report ~~KKR~~shall ~~Real~~not ~~Estate~~be ~~Finance~~incorporated ~~Holdings~~by ~~L.P.~~reference ~~(“Opco”),~~into ~~certain~~any ~~specified~~registration ~~subsidiaries~~statement ofor ~~the~~other ~~Company, Goldman~~document ~~Sachs~~pursuant ~~Bank~~to ~~USA~~the ~~(“Goldman~~Securities ~~Sachs”),~~Act asof ~~administrative agent~~1933, ~~and~~as ~~the~~amended ~~lenders party thereto from time to time~~ (the “~~Credit Agreement~~Securities Act”), ~~and~~unless asit ~~amended~~is byspecifically ~~the~~incorporated ~~Amendment,~~by ~~the~~reference ~~“Amended Credit Agreement”)~~therein.

~~The~~Forward-Looking Credit Agreement was amended by the Amendment to, among other things, (i) incur 2025 Incremental Term Loans (as defined in the Amended Credit Agreement) in the aggregate principal amount of $101,375,000, increasing the total amount of term loans outstanding under the Amended Credit Agreement to $650,000,000, (ii) reduce the rate at which the term loans bear interest by 0.75% to Term SOFR plus 2.50% and (iii) reset the 101% soft call for six months. The original issue price of newly funded term loans including the 2025 Incremental Term Loans was 99.75%.statements

~~Other~~This ~~material~~Report ~~terms,~~contains forward-looking statements within the meaning of the “safe harbor” provisions of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements relate to expectations, beliefs, projections, future plans and ~~conditions~~strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the ~~Credit~~Company ~~Agreement~~or ~~remain~~are ~~unchanged~~within its control. The forward-looking statements speak only as of the date of this Report or as of the date they are made, and the Company does not undertake any obligation to update any forward-looking statements except as required by law. Information about factors affecting the Company and the forward-looking statements is available in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in the Company’s periodic filings with the Securities and Exchange Commission, which are available at www.sec.gov.

~~Certain~~Item ~~lenders~~9.01 Financial ~~under~~Statements ~~the Amended Credit Agreement~~ and~~/or~~ their affiliates may have other business relationships with the Company involving the provision of financial and banking-related services, including cash management, loans, letters of credit and bank guarantee facilities, investment banking and trust servicesExhibits.

~~Amendment to Revolving Credit Agreement~~(d) Exhibits.

On September 10, 2025, KREF X entered into the Eleventh Amendment (the “Eleventh Amendment”) to the Credit Agreement, dated December 20, 2018, by and among KREF X, Opco, certain subsidiary guarantors of Opco party thereto and Morgan Stanley Senior Funding, Inc., as the administrative agent (as amended, restated, supplemented or otherwise modified from time to time, the “Revolving Credit Agreement”). The Eleventh Amendment increases the commitments from $660,000,000 to $700,000,000. Other material terms, provisions, and conditions of the Revolving Credit Agreement remain unchanged.


Exhibit No.						Description
99.1						Earnings Release dated October 21 , 2025
99.2						Supplemental Financial Information for the quarter ended September 30, 2025
104						Cover Page Interactive Data File, formatted in Inline XBRL (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		KKR Real Estate Finance Trust Inc.
	By:	/s/ Kelly Galligan
		Name: Kelly Galligan
		Title: General Counsel and Secretary
Date: September 11, 2025


			KKR Real Estate Finance Trust Inc.

			By:			/s/ Kelly Galligan
						Name: Kelly Galligan
						Title: General Counsel and Secretary

Date: October 21, 2025

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