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SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number : 001-38082 30 Hudson Yards , Maryland ( State or other jurisdiction of incorporation or organization ) UNITED STATES KKR Real Estate Finance Trust Inc. ( Exact name of registrant as specified in its charter ) ( Address of principal executive offices ) Suite 7500 New York , NY Title of each class Common stock , par value $ 0.01 per share KKR REAL ESTATE FINANCE TRUST ( 212 ) 750-8300 ( Registrant's telephone number , including area code ) Large accelerated filer 0 Accelerated filer Non - accelerated filer Emerging growth company Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) Smaller reporting company ☐ 47-2009094 ( I.R.S. Employer Identification No. ) KREF Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . " Yes x No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . " Yes x No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No 10001 ( Zip Code ) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Name of each exchange on which registered New York Stock Exchange Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . 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 . Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . □ Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No The aggregate market value of the registrant's common stock held by non - affiliates was approximately $ 485.8 million as of June 30 , 2020 ( the last business day of the registrant's most recently completed second fiscal quarter ) based on the closing sale price on the New York Stock Exchange on that date . The number of shares of the registrant's common stock , par value $ 0.01 per share , outstanding as of February 11 , 2021 was 55,619,428 .