Exhibit 99.1

KKR Real Estate Finance Trust Inc. Announces Private Offering of $125.0 Million Convertible Senior Notes

New York, NY — May 15, 2018 — KKR Real Estate Finance Trust Inc. (NYSE: KREF) (“KREF”) today announced that it intends to offer, subject to market and other conditions, $125.0 million aggregate principal amount of Convertible Senior Notes due 2023 (the “Notes”) in a private offering to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). KREF also expects to grant to the initial purchasers of the Notes an option to purchase up to an additional $18.75 million aggregate principal amount of the Notes during a 13-day period beginning on, and including, the first date on which the Notes are issued.

The Notes will be KREF’s senior unsecured obligations. The Notes will mature on May 15, 2023, unless earlier repurchased or converted. KREF will satisfy any conversion elections by paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election. The interest rate, the initial conversion rate and the other terms of the Notes will be determined by negotiations between KREF and the initial purchasers of the Notes.

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.

The Notes and shares of KREF common stock issuable upon conversion, if any, have not been and will not be registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

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

Certain matters discussed in this press release have “forward-looking statements” intended to qualify for the safe harbor from liability established by 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 proposed offering of the Notes, the anticipated terms of the Notes, the expected use of the net proceeds from the offering, and KREF’s expectations concerning market conditions for an offering of convertible notes. 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 periodic reports filed with the Securities and Exchange Commission, including, but not limited to, KREF’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017. 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.

MEDIA CONTACT:
Kristi Huller or Cara Major
(212) 750-8300
media@kkr.com

INVESTOR RELATIONS CONTACT:
Sasha Hamilton

(212) 401-0447

sasha.hamilton@kkr.com