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  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_ecd_TradingArrByIndTable_terseLabel_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual</link:label>
    <link:label id="lab_ecd_TradingArrByIndTable_label_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrByIndTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TradingArrByIndTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrByIndTable" xlink:to="lab_ecd_TradingArrByIndTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TradingArrAxis_terseLabel_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangement:</link:label>
    <link:label id="lab_ecd_TradingArrAxis_label_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TradingArrAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrAxis" xlink:to="lab_ecd_TradingArrAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MaximumMember_019e40bf-a171-7db9-8535-1b0de05b5f59_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableHeldForSaleAmount_019e40bf-a171-7bc2-829d-8a06cafac644_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loan, held-for-sale</link:label>
    <link:label id="lab_us-gaap_LoansReceivableHeldForSaleAmount_label_en-US" xlink:label="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Held-for-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableHeldForSaleAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansReceivableHeldForSaleAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableHeldForSaleAmount" xlink:to="lab_us-gaap_LoansReceivableHeldForSaleAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_019e40bf-a171-781e-a4f7-857d69303080_terseLabel_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portion at Fair Value Measurement</link:label>
    <link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Portion at Fair Value Measurement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk_019e40bf-a171-7922-bffd-9fe9c989fbcc_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Counterparty Exposure</link:label>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreement Counterparty, Amount at Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk" xlink:to="lab_us-gaap_RepurchaseAgreementCounterpartyAmountAtRisk" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_019e40bf-a171-7246-a50c-07ddfba191b2_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventMember_019e40bf-a1fe-7f9b-8b45-89d8865c81d2_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_019e40bf-a1fd-7062-9285-bf1090e09919_terseLabel_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reported Value Measurement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_019e40bf-a0b8-732d-a3f5-2f61ed7a387a_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Common Stockholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_019e40bf-a0b8-7014-9850-7553f33fade6_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average yield, financing provided</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtWeightedAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialRealEstateLoansTable_019e40bf-a0b8-7265-bf98-a7151049bb33_terseLabel_en-US" xlink:label="lab_kref_CommercialRealEstateLoansTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Holdings [Table]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLoansTable_label_en-US" xlink:label="lab_kref_CommercialRealEstateLoansTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans [Table]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLoansTable_documentation_en-US" xlink:label="lab_kref_CommercialRealEstateLoansTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialRealEstateLoansTable" xlink:href="kref-20260630.xsd#kref_CommercialRealEstateLoansTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialRealEstateLoansTable" xlink:to="lab_kref_CommercialRealEstateLoansTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentAxis_019e40bf-a0b8-717f-9181-a8e8dfa7e8f0_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancialInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentAxis" xlink:to="lab_us-gaap_FinancialInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateLineItems_019e40bf-a171-730f-9a37-28d73c1e96f2_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:label id="lab_us-gaap_RealEstateLineItems_label_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateLineItems" xlink:to="lab_us-gaap_RealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_019e40bf-a172-7400-a988-287e03630f88_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Future Amortization of Lease Intangibles</link:label>
    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_019e40bf-a0b8-7027-8ea2-415075aad54f_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LongTermDebtGrossPercentage_019e40bf-a0b8-7499-b424-0c81658aebfa_terseLabel_en-US" xlink:label="lab_kref_LongTermDebtGrossPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate of principal (as a percent)</link:label>
    <link:label id="lab_kref_LongTermDebtGrossPercentage_label_en-US" xlink:label="lab_kref_LongTermDebtGrossPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross, Percentage</link:label>
    <link:label id="lab_kref_LongTermDebtGrossPercentage_documentation_en-US" xlink:label="lab_kref_LongTermDebtGrossPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LongTermDebtGrossPercentage" xlink:href="kref-20260630.xsd#kref_LongTermDebtGrossPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LongTermDebtGrossPercentage" xlink:to="lab_kref_LongTermDebtGrossPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_019e40bf-a171-7f27-931d-19648176dedb_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByMeasurementFrequencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFMember_019e40bf-a171-723c-a194-dfd6201c8877_terseLabel_en-US" xlink:label="lab_kref_KREFMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF</link:label>
    <link:label id="lab_kref_KREFMember_label_en-US" xlink:label="lab_kref_KREFMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF [Member]</link:label>
    <link:label id="lab_kref_KREFMember_documentation_en-US" xlink:label="lab_kref_KREFMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFMember" xlink:href="kref-20260630.xsd#kref_KREFMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFMember" xlink:to="lab_kref_KREFMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_019e40bf-a171-7728-ae93-6732178223c6_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_019e40bf-a172-728d-86e3-6e5742847660_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Treasury stock acquired, average cost per share (usd per share)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare_label_en-US" xlink:label="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Acquired, Average Cost Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TreasuryStockAcquiredAverageCostPerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:to="lab_us-gaap_TreasuryStockAcquiredAverageCostPerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KKRAffiliateMember_019e40bf-a171-7a1a-b9b8-d66aca3a6871_terseLabel_en-US" xlink:label="lab_kref_KKRAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KKR Affiliate</link:label>
    <link:label id="lab_kref_KKRAffiliateMember_label_en-US" xlink:label="lab_kref_KKRAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KKR Affiliate [Member]</link:label>
    <link:label id="lab_kref_KKRAffiliateMember_documentation_en-US" xlink:label="lab_kref_KKRAffiliateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KKR Affiliate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KKRAffiliateMember" xlink:href="kref-20260630.xsd#kref_KKRAffiliateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KKRAffiliateMember" xlink:to="lab_kref_KKRAffiliateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_019e40bf-a171-7869-b24d-1481d615036c_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCommonStockSharesOutstanding" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_dei_EntityCommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_019e40bf-a171-7925-a282-371d4f21d499_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from principal repayments of commercial real estate loans</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_019e40bf-a171-7dda-b61a-53549cd615ba_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from principal repayments of commercial real estate loans</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Principal Repayment, Loan and Lease, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:to="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentAmortizationRate_019e40bf-a0b7-7c1c-8ae1-676146237f98_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentAmortizationRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization rate (as a percent)</link:label>
    <link:label id="lab_kref_DebtInstrumentAmortizationRate_label_en-US" xlink:label="lab_kref_DebtInstrumentAmortizationRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Amortization Rate</link:label>
    <link:label id="lab_kref_DebtInstrumentAmortizationRate_documentation_en-US" xlink:label="lab_kref_DebtInstrumentAmortizationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Amortization Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentAmortizationRate" xlink:href="kref-20260630.xsd#kref_DebtInstrumentAmortizationRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentAmortizationRate" xlink:to="lab_kref_DebtInstrumentAmortizationRate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXVIIMember_019e40bf-a171-79c2-a6d4-4d8025008821_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXVIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XVII</link:label>
    <link:label id="lab_kref_KREFLendingXVIIMember_label_en-US" xlink:label="lab_kref_KREFLendingXVIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XVII [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXVIIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXVIIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XVII</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXVIIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXVIIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXVIIMember" xlink:to="lab_kref_KREFLendingXVIIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LoanHeldForInvestmentMeasurementInput_019e40bf-a0b8-7c66-815a-14f443e29af5_terseLabel_en-US" xlink:label="lab_kref_LoanHeldForInvestmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment, measurement input</link:label>
    <link:label id="lab_kref_LoanHeldForInvestmentMeasurementInput_label_en-US" xlink:label="lab_kref_LoanHeldForInvestmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Held-For-Investment, Measurement Input</link:label>
    <link:label id="lab_kref_LoanHeldForInvestmentMeasurementInput_documentation_en-US" xlink:label="lab_kref_LoanHeldForInvestmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan, Held-For-Investment, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LoanHeldForInvestmentMeasurementInput" xlink:href="kref-20260630.xsd#kref_LoanHeldForInvestmentMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LoanHeldForInvestmentMeasurementInput" xlink:to="lab_kref_LoanHeldForInvestmentMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember_019e40bf-a1fd-7eee-be6a-507a1e0129aa_terseLabel_en-US" xlink:label="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliated Company, Equity Method Investment</link:label>
    <link:label id="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember_label_en-US" xlink:label="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Company, Equity Method Investment [Member]</link:label>
    <link:label id="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember_documentation_en-US" xlink:label="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Affiliated Company, Equity Method Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:href="kref-20260630.xsd#kref_AffiliatedCompanyEquityMethodInvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:to="lab_kref_AffiliatedCompanyEquityMethodInvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DoubtfulMember_019e40bf-a172-7a84-b45a-852633e0f20d_terseLabel_en-US" xlink:label="lab_us-gaap_DoubtfulMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">High Risk/Potential for Loss</link:label>
    <link:label id="lab_us-gaap_DoubtfulMember_label_en-US" xlink:label="lab_us-gaap_DoubtfulMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Doubtful [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DoubtfulMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DoubtfulMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DoubtfulMember" xlink:to="lab_us-gaap_DoubtfulMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_019e40bf-a0b8-75cb-9200-8d25ba91bf4c_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesDomain_019e40bf-a0b8-7574-bc93-9732f0f036be_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesDomain_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ConsolidatedEntitiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesDomain" xlink:to="lab_srt_ConsolidatedEntitiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput_019e40bf-a1fd-7270-b35c-f57b22927f96_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable interest entity assets, CMBS trust, measurement input</link:label>
    <link:label id="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput_label_en-US" xlink:label="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Assets, CMBS Trust, Measurement Input</link:label>
    <link:label id="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput_documentation_en-US" xlink:label="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Assets, CMBS Trust, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:href="kref-20260630.xsd#kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:to="lab_kref_VariableInterestEntityAssetsCMBSTrustMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember_019e40bf-a0b7-7dd4-8def-3135b20a0baa_terseLabel_en-US" xlink:label="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.5% Series A Cumulative Redeemable Preferred Stock</link:label>
    <link:label id="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember_label_en-US" xlink:label="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">6.5% Series A Cumulative Redeemable Preferred Stock [Member]</link:label>
    <link:label id="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember_documentation_en-US" xlink:label="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">6.5% Series A Cumulative Redeemable Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:href="kref-20260630.xsd#kref_A65SeriesACumulativeRedeemablePreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:to="lab_kref_A65SeriesACumulativeRedeemablePreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_019e40bf-a0b8-738c-80b1-0a7937ec6ac9_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year five</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_019e40bf-a171-7d68-b342-70a3462cbf65_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock par value (usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e40bf-a0b8-7c72-8609-96886cca5f01_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Unvested, beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e40bf-a0b8-7db8-b065-117d7ef8f04d_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Unvested, ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_019e40bf-a0b8-7699-b64a-91f47de683ca_totalLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent_019f60cc-6646-7540-99d2-6feda24d2dd4_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of the outstanding financing principal, percent</link:label>
    <link:label id="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent_label_en-US" xlink:label="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Entity Share Of Outstanding Principal, Percent</link:label>
    <link:label id="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent_documentation_en-US" xlink:label="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Entity Share Of Outstanding Principal, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:href="kref-20260630.xsd#kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:to="lab_kref_DebtInstrumentEntityShareOfOutstandingPrincipalPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_StudentHousingMember_019e40bf-a172-7913-a075-c48cb77b1564_terseLabel_en-US" xlink:label="lab_kref_StudentHousingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Student Housing</link:label>
    <link:label id="lab_kref_StudentHousingMember_label_en-US" xlink:label="lab_kref_StudentHousingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Student Housing [Member]</link:label>
    <link:label id="lab_kref_StudentHousingMember_documentation_en-US" xlink:label="lab_kref_StudentHousingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Student Housing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_StudentHousingMember" xlink:href="kref-20260630.xsd#kref_StudentHousingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_StudentHousingMember" xlink:to="lab_kref_StudentHousingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentLiability_019e40bf-a171-78ae-95ba-7974895cc1b1_verboseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liabilities related to real estate owned, held-for-investment</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentLiability_label_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Investment, Liability</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentLiability_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Investment, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedHeldForInvestmentLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:to="lab_kref_RealEstateOwnedHeldForInvestmentLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_019e40bf-a0b8-77dc-84fc-2755ad53b370_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated fair value</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateInvestmentPropertyAtCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods_019e40bf-a1fe-75b3-bbf5-353b2639b646_terseLabel_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of consecutive vesting periods (Years)</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods_label_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Consecutive Vesting Periods</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods_documentation_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Consecutive Vesting Periods</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:href="kref-20260630.xsd#kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:to="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfConsecutiveVestingPeriods" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicer_019e40bf-a0b8-7253-99d2-f3577844f40f_terseLabel_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan principal repayments held by a servicer</link:label>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicer_label_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Principal Repayments Held By A Servicer</link:label>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicer_documentation_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Principal Repayments Held By A Servicer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:href="kref-20260630.xsd#kref_LoanPrincipalRepaymentsHeldByAServicer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:to="lab_kref_LoanPrincipalRepaymentsHeldByAServicer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskTable_019e40bf-a1fd-7ae2-91a8-1a5414057cde_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk [Table]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTable_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTable" xlink:to="lab_us-gaap_ConcentrationRiskTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_019e40bf-a0b8-7f04-8f65-c6af1ef2ee08_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_019e40bf-a171-7cd5-bfa6-f610db43dcfc_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_019e40bf-a1fd-7c67-b15b-f81ea7474ac9_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_019e40bf-a0b8-7c2f-bdd3-3b9afb973fca_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KKRCo.L.P.Member_019e40bf-a1fe-76b7-93d0-dd61c34c72b9_terseLabel_en-US" xlink:label="lab_kref_KKRCo.L.P.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KKR</link:label>
    <link:label id="lab_kref_KKRCo.L.P.Member_label_en-US" xlink:label="lab_kref_KKRCo.L.P.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KKR &amp; Co. L.P. [Member]</link:label>
    <link:label id="lab_kref_KKRCo.L.P.Member_documentation_en-US" xlink:label="lab_kref_KKRCo.L.P.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KKR &amp; Co. L.P. [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KKRCo.L.P.Member" xlink:href="kref-20260630.xsd#kref_KKRCo.L.P.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KKRCo.L.P.Member" xlink:to="lab_kref_KKRCo.L.P.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivablesAbstract_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ReceivablesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesAbstract" xlink:to="lab_us-gaap_ReceivablesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_019e40bf-a0b8-7d1c-8abc-22a548f0039b_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_019e40bf-a171-7cbc-84c3-6c7e4302b801_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of Individual [Domain]</link:label>
    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_label_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title and Position [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_TitleOfIndividualWithRelationshipToEntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:to="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXIMember_019e40bf-a171-7d4e-a8e8-9abfebeaf2f8_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XI</link:label>
    <link:label id="lab_kref_KREFLendingXIMember_label_en-US" xlink:label="lab_kref_KREFLendingXIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XI [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXIMember" xlink:to="lab_kref_KREFLendingXIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommonStockValueAuthorized_019e40bf-a172-7636-93e0-28db9ce64d83_terseLabel_en-US" xlink:label="lab_kref_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock authorized</link:label>
    <link:label id="lab_kref_CommonStockValueAuthorized_label_en-US" xlink:label="lab_kref_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Authorized</link:label>
    <link:label id="lab_kref_CommonStockValueAuthorized_documentation_en-US" xlink:label="lab_kref_CommonStockValueAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommonStockValueAuthorized" xlink:href="kref-20260630.xsd#kref_CommonStockValueAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommonStockValueAuthorized" xlink:to="lab_kref_CommonStockValueAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CMBSBPiecesMember_019e40bf-a0b8-7b53-82a8-33a996243d92_terseLabel_en-US" xlink:label="lab_kref_CMBSBPiecesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CMBS B-Pieces</link:label>
    <link:label id="lab_kref_CMBSBPiecesMember_label_en-US" xlink:label="lab_kref_CMBSBPiecesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CMBS B-Pieces [Member]</link:label>
    <link:label id="lab_kref_CMBSBPiecesMember_documentation_en-US" xlink:label="lab_kref_CMBSBPiecesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">CMBS B-Pieces</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CMBSBPiecesMember" xlink:href="kref-20260630.xsd#kref_CMBSBPiecesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CMBSBPiecesMember" xlink:to="lab_kref_CMBSBPiecesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding_019e40bf-a1fd-757d-9e73-043bd8c74412_terseLabel_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future funding</link:label>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding_label_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Future Funding</link:label>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding_documentation_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Future Funding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:href="kref-20260630.xsd#kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:to="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFutureFunding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_019e40bf-a0b7-7034-b5a5-3a36e95841ad_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel2Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel2Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_us-gaap_FairValueInputsLevel2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_019e40bf-a172-7de5-93ad-dbc5fd389895_terseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Income</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonoperating Income (Expense) [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="lab_us-gaap_NonoperatingIncomeExpenseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm_019e40bf-a1fd-78e8-bd01-72cf740c99a6_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum voting percentage for renewal of agreement term</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Minimum Voting Percentage For Renewal Of Agreement Term</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Minimum Voting Percentage For Renewal Of Agreement Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:to="lab_kref_RelatedPartyTransactionMinimumVotingPercentageForRenewalOfAgreementTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:to="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_019e40bf-a0b8-7ee8-9002-c766b308b6d6_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_019e40bf-a0b8-7230-b630-632e5fb2daf3_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther_019e40bf-a1fd-7c90-8640-fa9476d63f64_terseLabel_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther_label_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:to="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_019e40bf-a171-7b29-adec-902600843f0f_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTable_019e40bf-a1fd-7cf7-8962-8ab1dec9aa61_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations_019e40bf-a1fe-7be6-a1e6-ef5734b7c128_negatedNetLabel_en-US" xlink:label="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Principal repayments on borrowings under collateralized loan obligations</link:label>
    <link:label id="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations_label_en-US" xlink:label="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments Of Borrowings Under Collateralized Loan Obligations</link:label>
    <link:label id="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations_documentation_en-US" xlink:label="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repayments Of Borrowings Under Collateralized Loan Obligations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:href="kref-20260630.xsd#kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:to="lab_kref_RepaymentsOfBorrowingsUnderCollateralizedLoanObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract_019e40bf-a171-7071-9135-db20fe009ed6_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfavorable Lease Intangible Liabilities</link:label>
    <link:label id="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract_label_en-US" xlink:label="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Below Market Lease Intangible Assets [Abstract]</link:label>
    <link:label id="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Below Market Lease Intangible Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:to="lab_kref_RealEstateOwnedBelowMarketLeaseIntangibleAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmount_019e40bf-a171-7acd-9be7-c16e42b74e49_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum cash liquidity covenant amount</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmount_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity Amount</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmount_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantCashLiquidityAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:to="lab_kref_DebtInstrumentCovenantCashLiquidityAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UseOfEstimates_019e40bf-a0b7-79e7-89f8-756e8f388725_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Use of Estimates</link:label>
    <link:label id="lab_us-gaap_UseOfEstimates_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UseOfEstimates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UseOfEstimates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates" xlink:to="lab_us-gaap_UseOfEstimates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_019e40bf-a172-7712-8fe3-6d4f893bf64d_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntitiesChangeInNoncashAssets_019e40bf-a1fe-7f04-814f-9cd2b26737c9_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in net assets of consolidated variable interest entities, CMBS trusts</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesChangeInNoncashAssets_label_en-US" xlink:label="lab_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Change in Noncash Assets</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesChangeInNoncashAssets_documentation_en-US" xlink:label="lab_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Change in Noncash Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:href="kref-20260630.xsd#kref_VariableInterestEntitiesChangeInNoncashAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:to="lab_kref_VariableInterestEntitiesChangeInNoncashAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_019e40bf-a1fd-7f41-8736-e81ef7c7b381_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental Schedule of Non-Cash Investing and Financing Activities</link:label>
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e40bf-a171-7fda-8be4-a415c383c54a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Allowance for credit losses</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e40bf-a171-7ac3-8e3c-1e146c819602_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_019e40bf-a171-79b4-a89f-5ed836295858_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_019e40bf-a172-7385-8b91-98ffeb3de774_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SeattleWAMember_019f1492-6a92-739d-9c45-c3ddbdf41e39_terseLabel_en-US" xlink:label="lab_kref_SeattleWAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Seattle, WA</link:label>
    <link:label id="lab_kref_SeattleWAMember_label_en-US" xlink:label="lab_kref_SeattleWAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seattle, WA [Member]</link:label>
    <link:label id="lab_kref_SeattleWAMember_documentation_en-US" xlink:label="lab_kref_SeattleWAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Seattle, WA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SeattleWAMember" xlink:href="kref-20260630.xsd#kref_SeattleWAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SeattleWAMember" xlink:to="lab_kref_SeattleWAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock_019e40bf-a171-786b-b1f4-26ceb25b8eb2_terseLabel_en-US" xlink:label="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans, Held-For-Investment</link:label>
    <link:label id="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock_label_en-US" xlink:label="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate, Financing Receivable, Held For Investment [Policy Text Block]</link:label>
    <link:label id="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock_documentation_en-US" xlink:label="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Real Estate, Financing Receivable, Held For Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:href="kref-20260630.xsd#kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:to="lab_kref_CommercialRealEstateFinancingReceivableHeldForInvestmentPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_019e40bf-a171-70e8-8050-d880dbab44f7_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_019e40bf-a171-7944-aca8-4ab0fe551d40_periodStartLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_019e40bf-a171-724b-8c48-7f90b43d180b_periodEndLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_019e40bf-a0b8-70ea-b28e-44a5bc419983_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Outstanding principal, financing provided</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_019e40bf-a0b8-701c-98fa-2dd480769d6f_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnSaleOfProperties_019e40bf-a171-7271-8079-5256b7bf5423_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of property</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfProperties_label_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale of Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfProperties" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnSaleOfProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfProperties" xlink:to="lab_us-gaap_GainLossOnSaleOfProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_019e40bf-a0b8-70ff-bd3b-aff1cb8f399b_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Per Share of Common Stock</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_019e40bf-a0b8-717e-8f72-d50e64d3079d_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to common stockholders, per:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasicAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAbstract" xlink:to="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_019e40bf-a0b8-7806-b3f6-c9d4574e13ef_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average life (years)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTerm_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTerm" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTerm" xlink:to="lab_us-gaap_DebtInstrumentTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MeasurementInputYieldMember_019e40bf-a171-7080-9b57-6542db159aaa_terseLabel_en-US" xlink:label="lab_kref_MeasurementInputYieldMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Yield</link:label>
    <link:label id="lab_kref_MeasurementInputYieldMember_label_en-US" xlink:label="lab_kref_MeasurementInputYieldMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Yield [Member]</link:label>
    <link:label id="lab_kref_MeasurementInputYieldMember_documentation_en-US" xlink:label="lab_kref_MeasurementInputYieldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Measurement Input, Yield [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MeasurementInputYieldMember" xlink:href="kref-20260630.xsd#kref_MeasurementInputYieldMember"/>
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    <link:label id="lab_us-gaap_TreasuryStockCommonValue_019e40bf-a172-777f-91cb-c88c2216a5dc_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchased stock (2,351,812 and 1,120,943 shares repurchased as of June&#160;30, 2026 and December&#160;31, 2025, respectively)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockCommonValue_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Common, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TreasuryStockCommonValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonValue" xlink:to="lab_us-gaap_TreasuryStockCommonValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_019e40bf-a0b8-70fc-a94a-a056d948109e_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from noncontrolling interest contributions</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DerivativeAmortizationOfForwardContract_019e40bf-a0b8-7a41-b48f-ec3f6ccb8eb4_terseLabel_en-US" xlink:label="lab_kref_DerivativeAmortizationOfForwardContract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward points on derivative instruments</link:label>
    <link:label id="lab_kref_DerivativeAmortizationOfForwardContract_label_en-US" xlink:label="lab_kref_DerivativeAmortizationOfForwardContract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Amortization Of Forward Contract</link:label>
    <link:label id="lab_kref_DerivativeAmortizationOfForwardContract_documentation_en-US" xlink:label="lab_kref_DerivativeAmortizationOfForwardContract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative, Amortization Of Forward Contract</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DerivativeAmortizationOfForwardContract" xlink:href="kref-20260630.xsd#kref_DerivativeAmortizationOfForwardContract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DerivativeAmortizationOfForwardContract" xlink:to="lab_kref_DerivativeAmortizationOfForwardContract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet_019e40bf-a0b8-7430-95fd-b3ee284c6dcc_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accretion of loan discount and other amortization, net</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Amortization Of Premium (Discount), Net</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet_documentation_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Amortization Of Premium (Discount), Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:href="kref-20260630.xsd#kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:to="lab_kref_MortgageLoansOnRealEstateAmortizationOfPremiumDiscountNet" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid_019e40bf-a0b8-79d2-b526-f95ac8c2d301_terseLabel_en-US" xlink:label="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs, not yet paid</link:label>
    <link:label id="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid_label_en-US" xlink:label="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Financing Costs, Incurred But Not Yet Paid</link:label>
    <link:label id="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid_documentation_en-US" xlink:label="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Financing Costs, Incurred But Not Yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:href="kref-20260630.xsd#kref_DeferredFinancingCostsIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:to="lab_kref_DeferredFinancingCostsIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityShellCompany_019e40bf-a1fd-778f-a1b7-55cf0ccd651b_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:label id="lab_dei_EntityShellCompany_label_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityShellCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityShellCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityShellCompany" xlink:to="lab_dei_EntityShellCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_019e40bf-a0b8-72a5-a6f6-95fb3712abca_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) included in change in net assets of consolidated variable interest entities, CMBS trusts</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_NumberOfEquityMethodInvestments_019e40bf-a1fd-75ec-af13-0d82e953ac5e_terseLabel_en-US" xlink:label="lab_kref_NumberOfEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of joint ventures</link:label>
    <link:label id="lab_kref_NumberOfEquityMethodInvestments_label_en-US" xlink:label="lab_kref_NumberOfEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Equity Method Investments</link:label>
    <link:label id="lab_kref_NumberOfEquityMethodInvestments_documentation_en-US" xlink:label="lab_kref_NumberOfEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_NumberOfEquityMethodInvestments" xlink:href="kref-20260630.xsd#kref_NumberOfEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_NumberOfEquityMethodInvestments" xlink:to="lab_kref_NumberOfEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_019e40bf-a1fd-74dd-a55b-1d56f6f26080_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings (Loss) per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock" xlink:to="lab_us-gaap_EarningsPerShareTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract" xlink:to="lab_us-gaap_EarningsPerShareAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffsettingLiabilitiesLineItems_019e40bf-a1fd-71b4-b829-0273e260ff54_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Offsetting Liabilities [Line Items]</link:label>
    <link:label id="lab_us-gaap_OffsettingLiabilitiesLineItems_label_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Offsetting Liabilities [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffsettingLiabilitiesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffsettingLiabilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffsettingLiabilitiesLineItems" xlink:to="lab_us-gaap_OffsettingLiabilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_019e40bf-a171-7a3d-a9ae-55ebb5fd83c4_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_label_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeerGroupIssuersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:to="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_019e40bf-a172-715e-a196-0f24d00ad48f_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_019e40bf-a171-7643-a2cc-3190d83c2053_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_019e40bf-a1fe-7c95-bb2d-59dc2a879dbe_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputDiscountRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:to="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable_019e40bf-a171-71f9-83ae-9297f6ae0667_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Repurchase Agreement Counterparty [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreement, Counterparty [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable" xlink:to="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartyTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SanDiegoCAMember_019e40bf-a172-7e1d-9c22-483ddd8842d8_terseLabel_en-US" xlink:label="lab_kref_SanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">San Diego, CA</link:label>
    <link:label id="lab_kref_SanDiegoCAMember_label_en-US" xlink:label="lab_kref_SanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">San Diego, CA [Member]</link:label>
    <link:label id="lab_kref_SanDiegoCAMember_documentation_en-US" xlink:label="lab_kref_SanDiegoCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">San Diego, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SanDiegoCAMember" xlink:href="kref-20260630.xsd#kref_SanDiegoCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SanDiegoCAMember" xlink:to="lab_kref_SanDiegoCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_019e40bf-a0b8-7ada-b58e-e85278592ee5_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNameOfTransactionDomain_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="lab_us-gaap_SaleOfStockNameOfTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_019e40bf-a172-7d87-8c39-b7dd8349b31a_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList_019e40bf-a0b8-74b5-b6ea-d29814e5aa04_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating lease, lease income, statement of income or comprehensive income [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList" xlink:to="lab_us-gaap_OperatingLeaseIncomeComprehensiveIncomeExtensibleList" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_InPlaceLeaseIntangibles_019e40bf-a0b8-7904-88d1-35ee5327925d_terseLabel_en-US" xlink:label="lab_kref_InPlaceLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-place lease intangibles</link:label>
    <link:label id="lab_kref_InPlaceLeaseIntangibles_label_en-US" xlink:label="lab_kref_InPlaceLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">In-Place Lease Intangibles</link:label>
    <link:label id="lab_kref_InPlaceLeaseIntangibles_documentation_en-US" xlink:label="lab_kref_InPlaceLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">In-Place Lease Intangibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_InPlaceLeaseIntangibles" xlink:href="kref-20260630.xsd#kref_InPlaceLeaseIntangibles"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_InPlaceLeaseIntangibles" xlink:to="lab_kref_InPlaceLeaseIntangibles" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffsettingLiabilitiesTable_019e40bf-a0b8-7ea9-8bb1-e5c69a1c68d6_terseLabel_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Offsetting Liabilities [Table]</link:label>
    <link:label id="lab_us-gaap_OffsettingLiabilitiesTable_label_en-US" xlink:label="lab_us-gaap_OffsettingLiabilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Offsetting Liabilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffsettingLiabilitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffsettingLiabilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffsettingLiabilitiesTable" xlink:to="lab_us-gaap_OffsettingLiabilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskLineItems_019e40bf-a0b7-7372-b33c-97994348cd2b_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk [Line Items]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskLineItems_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskLineItems" xlink:to="lab_us-gaap_ConcentrationRiskLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock_019e40bf-a171-7929-af4e-48ec460d7626_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Repurchase Agreements</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Repurchase Agreement Counterparties with Whom Repurchase Agreements Exceed 10 Percent of Stockholders' Equity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock" xlink:to="lab_us-gaap_ScheduleOfRepurchaseAgreementCounterpartiesWithWhomRepurchaseAgreementsExceed10PercentOfStockholdersEquityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_019e40bf-a0b8-777b-a150-3f753d3a2beb_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital commitment</link:label>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentAmount_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Purchase Commitment, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermPurchaseCommitmentAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermPurchaseCommitmentAmount" xlink:to="lab_us-gaap_LongTermPurchaseCommitmentAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_019e40bf-a172-702a-8952-5a7aa3ad2b6f_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current fiscal year</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_019e40bf-a171-755e-ae41-f227cf205402_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_019e40bf-a171-7f7d-b993-dea4822cc0fb_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows From Operating Activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned_019e40bf-a0b8-7de5-b024-dec322a08f53_negatedTerseLabel_en-US" xlink:label="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures on real estate owned</link:label>
    <link:label id="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned_label_en-US" xlink:label="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Capital Expenditures, Real Estate Owned</link:label>
    <link:label id="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned_documentation_en-US" xlink:label="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments For Capital Expenditures, Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:href="kref-20260630.xsd#kref_PaymentsForCapitalExpendituresRealEstateOwned"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:to="lab_kref_PaymentsForCapitalExpendituresRealEstateOwned" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_label_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_019e40bf-a172-7f3d-b1ca-6531fd760cad_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Useful life</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant, and Equipment, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_019e40bf-a172-7f88-a9f1-bfe61f85e25f_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend, share-based payment arrangement</link:label>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_DividendsShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend, Share-Based Payment Arrangement</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsShareBasedCompensation" xlink:to="lab_us-gaap_DividendsShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_019e40bf-a1fe-7f17-a402-b262391ac639_verboseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Dividend declared, not yet paid</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_019e40bf-a1fe-7e48-8268-a33675d8924c_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends payable</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_019e40bf-a171-7f69-86b6-20e923b32b8d_terseLabel_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting percentage (as a percent)</link:label>
    <link:label id="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_label_en-US" xlink:label="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="lab_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_019e40bf-a1fd-7355-a4cb-b8942ad2dbf5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-Based Compensation Arrangements by Share-Based Payment Award [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ManagementFeesMember_019e40bf-a1fd-7138-9a4d-37375c760764_terseLabel_en-US" xlink:label="lab_kref_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_kref_ManagementFeesMember_label_en-US" xlink:label="lab_kref_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees [Member]</link:label>
    <link:label id="lab_kref_ManagementFeesMember_documentation_en-US" xlink:label="lab_kref_ManagementFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fees [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ManagementFeesMember" xlink:href="kref-20260630.xsd#kref_ManagementFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ManagementFeesMember" xlink:to="lab_kref_ManagementFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TenantReceivablesPolicyTextBlock_019e40bf-a172-7e98-88c6-a48864c16504_terseLabel_en-US" xlink:label="lab_kref_TenantReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant Receivables</link:label>
    <link:label id="lab_kref_TenantReceivablesPolicyTextBlock_label_en-US" xlink:label="lab_kref_TenantReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Receivables [Policy Text Block]</link:label>
    <link:label id="lab_kref_TenantReceivablesPolicyTextBlock_documentation_en-US" xlink:label="lab_kref_TenantReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tenant Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TenantReceivablesPolicyTextBlock" xlink:href="kref-20260630.xsd#kref_TenantReceivablesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TenantReceivablesPolicyTextBlock" xlink:to="lab_kref_TenantReceivablesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_019e40bf-a0b8-7ca6-ba5c-36ace851cdde_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Debt Issuance Costs</link:label>
    <link:label id="lab_us-gaap_DeferredChargesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DeferredChargesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Charges, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredChargesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredChargesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredChargesPolicyTextBlock" xlink:to="lab_us-gaap_DeferredChargesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_019e40bf-a0b8-711f-aedf-955040d990a8_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents and Restricted Cash</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:to="lab_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity_019e40bf-a0b8-7237-8378-d00729e9e84d_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of trailing 12 month weighted average adjusted equity (as a percent)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Percentage Of Adjusted Equity</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Percentage Of Adjusted Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPercentageOfAdjustedEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MeasurementInputCapitalizationRateMember_019e40bf-a172-7d13-9549-61e59463ea45_terseLabel_en-US" xlink:label="lab_kref_MeasurementInputCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization rate</link:label>
    <link:label id="lab_kref_MeasurementInputCapitalizationRateMember_label_en-US" xlink:label="lab_kref_MeasurementInputCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Capitalization Rate [Member]</link:label>
    <link:label id="lab_kref_MeasurementInputCapitalizationRateMember_documentation_en-US" xlink:label="lab_kref_MeasurementInputCapitalizationRateMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Measurement Input Capitalization Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MeasurementInputCapitalizationRateMember" xlink:href="kref-20260630.xsd#kref_MeasurementInputCapitalizationRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MeasurementInputCapitalizationRateMember" xlink:to="lab_kref_MeasurementInputCapitalizationRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_019e40bf-a1fd-73bd-bb5c-806be93512f6_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation, net</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">APIC, Share-Based Payment Arrangement, Increase for Cost Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_019e40bf-a171-7651-ab9d-b823095f6693_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel1Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel1Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_us-gaap_FairValueInputsLevel1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans_019e40bf-a172-7d00-af9f-fcf0e5482b97_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Floating Rate Loan %</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Floating Rate, Percentage Of Loans</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans_documentation_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Floating Rate, Percentage Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:href="kref-20260630.xsd#kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:to="lab_kref_MortgageLoansOnRealEstateFloatingRatePercentageOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_019e40bf-a1fd-71ea-ad8c-ec23ce4005d1_terseLabel_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Concentration of Risk, by Risk Factor</link:label>
    <link:label id="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_label_en-US" xlink:label="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedules of Concentration of Risk, by Risk Factor [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:to="lab_us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnSaleOfInvestments_019e40bf-a171-7a42-8254-10b5c1debbcc_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on sale of real estate owned</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfInvestments_019e40bf-a171-7c59-8bd6-432b52f9e087_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">(Gain) loss on sale of real estate owned</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfInvestments_label_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale of Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnSaleOfInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfInvestments" xlink:to="lab_us-gaap_GainLossOnSaleOfInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_019e40bf-a172-7c97-ae27-9b97505f1b94_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SecuredTermLoanMember_019e40bf-a171-7ace-bf65-5589cfec062e_terseLabel_en-US" xlink:label="lab_kref_SecuredTermLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured term loan</link:label>
    <link:label id="lab_kref_SecuredTermLoanMember_label_en-US" xlink:label="lab_kref_SecuredTermLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Term Loan [Member]</link:label>
    <link:label id="lab_kref_SecuredTermLoanMember_documentation_en-US" xlink:label="lab_kref_SecuredTermLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Term Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SecuredTermLoanMember" xlink:href="kref-20260630.xsd#kref_SecuredTermLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SecuredTermLoanMember" xlink:to="lab_kref_SecuredTermLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward_019e40bf-a171-7243-bfb4-e9225d1e4cbf_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffBalanceSheetCreditLossLiabilityRollforward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiabilityRollforward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_019e40bf-a172-7ffe-b87a-260471204acd_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchase and retirement of common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased and Retired During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_019e40bf-a1fd-74af-bd1e-fbf56a82fdf0_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_019e40bf-a0b8-7ba3-a64c-26ebe8a24864_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock par value (usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_019e40bf-a0b8-78b1-bb89-4ff01507ad76_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, fair value</link:label>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue" xlink:to="lab_us-gaap_LongTermDebtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Depreciation_019e40bf-a171-7bb7-9824-a16a1875823f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expense</link:label>
    <link:label id="lab_us-gaap_Depreciation_label_en-US" xlink:label="lab_us-gaap_Depreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Depreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Depreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Depreciation" xlink:to="lab_us-gaap_Depreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock_019e40bf-a1fd-7667-b854-ad93c44e7611_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:to="lab_us-gaap_OtherLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PlanNameDomain_019e40bf-a0b7-769b-b24d-4ebbae36ec64_terseLabel_en-US" xlink:label="lab_us-gaap_PlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:label id="lab_us-gaap_PlanNameDomain_label_en-US" xlink:label="lab_us-gaap_PlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanNameDomain" xlink:to="lab_us-gaap_PlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral_019f1787-0ecf-7945-90ff-ccc03fb2df8e_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loan investments used as collateral</link:label>
    <link:label id="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral_label_en-US" xlink:label="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loan Investments Used As Collateral</link:label>
    <link:label id="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral_documentation_en-US" xlink:label="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loan Investments Used As Collateral</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:href="kref-20260630.xsd#kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:to="lab_kref_DebtInstrumentNumberOfLoanInvestmentsUsedAsCollateral" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_QuarterlyIncentiveCompensationMember_019e40bf-a1fd-72b1-bef7-548c215e4555_terseLabel_en-US" xlink:label="lab_kref_QuarterlyIncentiveCompensationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quarterly Incentive Compensation</link:label>
    <link:label id="lab_kref_QuarterlyIncentiveCompensationMember_label_en-US" xlink:label="lab_kref_QuarterlyIncentiveCompensationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Incentive Compensation [Member]</link:label>
    <link:label id="lab_kref_QuarterlyIncentiveCompensationMember_documentation_en-US" xlink:label="lab_kref_QuarterlyIncentiveCompensationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quarterly Incentive Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_QuarterlyIncentiveCompensationMember" xlink:href="kref-20260630.xsd#kref_QuarterlyIncentiveCompensationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_QuarterlyIncentiveCompensationMember" xlink:to="lab_kref_QuarterlyIncentiveCompensationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_019e40bf-a0b8-76e9-86b2-82ab85cbeaac_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_019e40bf-a1fd-7839-9da1-a181bbcb74e7_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Below Market Lease, Future Amortization Income</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Future Amortization Income [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:to="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_019e40bf-a1fe-7796-9561-8d517ada6ac7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_019e40bf-a1fd-7cd3-b93d-b490e20bb07a_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCredit_019e40bf-a1fd-78a4-8267-92cf021c7602_verboseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Secured financing agreements, net</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_label_en-US" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Line of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit" xlink:to="lab_us-gaap_LineOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs_019e40bf-a172-711f-92f3-0d60156544b9_terseLabel_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock issued related to vesting RSUs (in shares)</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs_label_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award, Options, Grants In Period, Net of Stock Issued in Connection with Vested RSUs</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs_documentation_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award, Options, Grants In Period, Net of Stock Issued in Connection with Vested RSUs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:href="kref-20260630.xsd#kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:to="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodNetOfStockIssuedInConnectionWithVestedRSUs" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_019e40bf-a1fd-7de0-a741-fcdcebf22758_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments of common stock dividends</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrExpirationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrExpirationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrExpirationDate" xlink:to="lab_ecd_TrdArrExpirationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_019e40bf-a171-70c7-8977-d3ea0c34c4c4_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateTable_019e40bf-a0b7-7a9d-b280-e4c985c21b8b_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:label id="lab_us-gaap_RealEstateTable_label_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateTable" xlink:to="lab_us-gaap_RealEstateTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_019e40bf-a172-7ecf-b20b-1d5019d6a4ad_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash (Note 9)</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_019e40bf-a172-7433-af80-5ff4a335b220_verboseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedCashAndCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalents" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_019e40bf-a171-7f15-b426-ea90a17fa7d8_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, fair value</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e40bf-a0b8-7bb3-8708-a95a3023cbfd_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e40bf-a0b8-7566-8beb-a35f95f9c840_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_019e40bf-a0b8-7209-b609-1ce73b041843_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BuildingMember_019e40bf-a0b8-7e51-a7ee-7321ec289f41_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building</link:label>
    <link:label id="lab_us-gaap_BuildingMember_label_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonrelatedPartyMember_019e40bf-a171-7d33-b122-31626fc6e375_terseLabel_en-US" xlink:label="lab_us-gaap_NonrelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonrelated party</link:label>
    <link:label id="lab_us-gaap_NonrelatedPartyMember_label_en-US" xlink:label="lab_us-gaap_NonrelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonrelated Party [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonrelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonrelatedPartyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonrelatedPartyMember" xlink:to="lab_us-gaap_NonrelatedPartyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate_019e40bf-a172-7c77-b11e-abed8224282c_terseLabel_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 (in shares)</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate_label_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Awards Expected To Vest One Year From Balance Sheet Date</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate_documentation_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Awards Expected to Vest Remainder of the Balance Sheet Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:href="kref-20260630.xsd#kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:to="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestOneYearFromBalanceSheetDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TransferOfLoansToRealEstateOwned_019f6e4b-71c8-7ad9-bfe5-7d213e78182d_terseLabel_en-US" xlink:label="lab_kref_TransferOfLoansToRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer of senior loan to real estate owned</link:label>
    <link:label id="lab_kref_TransferOfLoansToRealEstateOwned_label_en-US" xlink:label="lab_kref_TransferOfLoansToRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer Of Loans To Real Estate Owned</link:label>
    <link:label id="lab_kref_TransferOfLoansToRealEstateOwned_documentation_en-US" xlink:label="lab_kref_TransferOfLoansToRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transfer Of Loans To Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TransferOfLoansToRealEstateOwned" xlink:href="kref-20260630.xsd#kref_TransferOfLoansToRealEstateOwned"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TransferOfLoansToRealEstateOwned" xlink:to="lab_kref_TransferOfLoansToRealEstateOwned" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic_019e40bf-a0b8-7bb2-a19b-1c7596825080_terseLabel_en-US" xlink:label="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic_label_en-US" xlink:label="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Excluding Vested But Undistributed Restricted Stock Units, Basic</link:label>
    <link:label id="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic_documentation_en-US" xlink:label="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Excluding Vested But Undistributed Restricted Stock Units, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:href="kref-20260630.xsd#kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:to="lab_kref_WeightedAverageNumberOfSharesOutstandingExcludingVestedButUndistributedRestrictedStockUnitsBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingencyEstimateOfPossibleLoss_019f7128-04a3-7d6a-897a-94447a2b2fe1_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss contingency, estimate of possible loss</link:label>
    <link:label id="lab_us-gaap_LossContingencyEstimateOfPossibleLoss_label_en-US" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Estimate of Possible Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LossContingencyEstimateOfPossibleLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:to="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LoanHeldInPortfolioFairValue_019e40bf-a0b8-79a9-b5c1-68ec522684c2_terseLabel_en-US" xlink:label="lab_kref_LoanHeldInPortfolioFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value</link:label>
    <link:label id="lab_kref_LoanHeldInPortfolioFairValue_label_en-US" xlink:label="lab_kref_LoanHeldInPortfolioFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Held-In-Portfolio, Fair Value</link:label>
    <link:label id="lab_kref_LoanHeldInPortfolioFairValue_documentation_en-US" xlink:label="lab_kref_LoanHeldInPortfolioFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan, Held-In-Portfolio, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LoanHeldInPortfolioFairValue" xlink:href="kref-20260630.xsd#kref_LoanHeldInPortfolioFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LoanHeldInPortfolioFairValue" xlink:to="lab_kref_LoanHeldInPortfolioFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_019e40bf-a0b7-7ee4-ace8-d2de144c2b92_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows From Investing Activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_019e40bf-a171-7b65-b32a-90ae697623d6_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermPurchaseCommitmentPeriod_019e40bf-a1fe-7d73-8e42-e5636b8bcc43_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermPurchaseCommitmentPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term purchase commitment period</link:label>
    <link:label id="lab_us-gaap_LongtermPurchaseCommitmentPeriod_label_en-US" xlink:label="lab_us-gaap_LongtermPurchaseCommitmentPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Purchase Commitment, Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermPurchaseCommitmentPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermPurchaseCommitmentPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermPurchaseCommitmentPeriod" xlink:to="lab_us-gaap_LongtermPurchaseCommitmentPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_019e40bf-a172-75b4-8625-cb5db8f4e1ce_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedOperations_019e40bf-a172-76bb-9f01-1fa3b580ceb2_totalLabel_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedOperations_label_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) From Real Estate Owned Operations</link:label>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedOperations_documentation_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (Loss) From Real Estate Owned Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_IncomeLossFromRealEstateOwnedOperations" xlink:href="kref-20260630.xsd#kref_IncomeLossFromRealEstateOwnedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_IncomeLossFromRealEstateOwnedOperations" xlink:to="lab_kref_IncomeLossFromRealEstateOwnedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember_019f464c-90a7-74bb-b69e-b13440bca951_terseLabel_en-US" xlink:label="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Direct Capitalization</link:label>
    <link:label id="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember_label_en-US" xlink:label="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Technique, Direct Capitalization Method [Member]</link:label>
    <link:label id="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember_documentation_en-US" xlink:label="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valuation Technique, Direct Capitalization Method</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:href="kref-20260630.xsd#kref_ValuationTechniqueDirectCapitalizationMethodMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:to="lab_kref_ValuationTechniqueDirectCapitalizationMethodMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfBelowMarketLease_019e40bf-a0b7-7f57-b61e-3af3fcabcf74_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfavorable lease intangibles</link:label>
    <link:label id="lab_us-gaap_AmortizationOfBelowMarketLease_label_en-US" xlink:label="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Below Market Lease</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfBelowMarketLease" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfBelowMarketLease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfBelowMarketLease" xlink:to="lab_us-gaap_AmortizationOfBelowMarketLease" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_019e40bf-a171-7ca7-866b-480fc8bcf35d_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Obligations</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_019e40bf-a171-7fc7-ba64-df2998b58ef3_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Secured Term Loan, Net</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock" xlink:to="lab_us-gaap_DebtDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NotesReceivableNet_019e40bf-a171-7411-94f5-bf3dbc73c108_verboseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities assets, CMBS trusts, at fair value</link:label>
    <link:label id="lab_us-gaap_NotesReceivableNet_019e40bf-a171-7053-965b-d7026e9e9470_totalLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment, net</link:label>
    <link:label id="lab_us-gaap_NotesReceivableNet_label_en-US" xlink:label="lab_us-gaap_NotesReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NotesReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NotesReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableNet" xlink:to="lab_us-gaap_NotesReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019e40bf-a0b8-755f-b700-1f95e2dec3dc_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized debt issuance costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019e40bf-a0b8-77db-a15e-4efae547d475_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019e40bf-a0b8-743a-aa72-a7ea6cf4ce79_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Debt issuance costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_019e40bf-a0b8-7671-a7a2-6595fec378c3_netLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Deferred financing cost, Revolver</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredFinanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet" xlink:to="lab_us-gaap_DeferredFinanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_label_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoActuallyPaidCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoActuallyPaidCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoActuallyPaidCompAmt" xlink:to="lab_ecd_PeoActuallyPaidCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebtMember_019e40bf-a1fe-7b95-9b9e-ce2b2bd49336_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Secured Financing Agreements</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_019e40bf-a1fe-77fc-ab6e-e0d4d5836e3b_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured term loan, net</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember" xlink:to="lab_us-gaap_SecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_019e40bf-a171-7cac-91f1-3ecf3679461f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment to acquire equity method investment, real estate asset</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_019e40bf-a0b8-7893-bf60-df4e3430b9d5_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total KKR Real Estate Finance Trust Inc. Stockholders&#8217; Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TenantReceivables_019e40bf-a0b7-772c-aa12-91f75c3c93c9_terseLabel_en-US" xlink:label="lab_kref_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant receivables</link:label>
    <link:label id="lab_kref_TenantReceivables_label_en-US" xlink:label="lab_kref_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Receivables</link:label>
    <link:label id="lab_kref_TenantReceivables_documentation_en-US" xlink:label="lab_kref_TenantReceivables" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tenant Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TenantReceivables" xlink:href="kref-20260630.xsd#kref_TenantReceivables"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TenantReceivables" xlink:to="lab_kref_TenantReceivables" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_019e40bf-a0b8-7c35-bd74-2be5a04b62dc_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_019e40bf-a0b8-7b9a-a7e4-65ad44c614ee_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherInvestments_019e40bf-a171-7652-9def-2153ce00cbbc_terseLabel_en-US" xlink:label="lab_us-gaap_OtherInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in CMBS securities</link:label>
    <link:label id="lab_us-gaap_OtherInvestments_label_en-US" xlink:label="lab_us-gaap_OtherInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestments" xlink:to="lab_us-gaap_OtherInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_019e40bf-a0b8-7b8b-a65d-5e48a4ef9b02_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Amortized Cost of Loan Portfolio</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Credit Quality Indicators [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:to="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_WeightedAverageLoanRiskRating_019e40bf-a171-7f01-b291-d8042ad9dbe6_terseLabel_en-US" xlink:label="lab_kref_WeightedAverageLoanRiskRating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average loan risk rating</link:label>
    <link:label id="lab_kref_WeightedAverageLoanRiskRating_label_en-US" xlink:label="lab_kref_WeightedAverageLoanRiskRating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Loan Risk Rating</link:label>
    <link:label id="lab_kref_WeightedAverageLoanRiskRating_documentation_en-US" xlink:label="lab_kref_WeightedAverageLoanRiskRating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted Average Loan Risk Rating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_WeightedAverageLoanRiskRating" xlink:href="kref-20260630.xsd#kref_WeightedAverageLoanRiskRating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_WeightedAverageLoanRiskRating" xlink:to="lab_kref_WeightedAverageLoanRiskRating" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREF2021FL2Member_019e40bf-a171-73fc-824a-1783ef45fce9_terseLabel_en-US" xlink:label="lab_kref_KREF2021FL2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF 2021-FL2</link:label>
    <link:label id="lab_kref_KREF2021FL2Member_label_en-US" xlink:label="lab_kref_KREF2021FL2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF 2021-FL2 [Member]</link:label>
    <link:label id="lab_kref_KREF2021FL2Member_documentation_en-US" xlink:label="lab_kref_KREF2021FL2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF 2021-FL2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREF2021FL2Member" xlink:href="kref-20260630.xsd#kref_KREF2021FL2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREF2021FL2Member" xlink:to="lab_kref_KREF2021FL2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ArrangementAndStructuringFees_019e40bf-a0b8-7f18-af17-4756753be954_terseLabel_en-US" xlink:label="lab_kref_ArrangementAndStructuringFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliate expenses</link:label>
    <link:label id="lab_kref_ArrangementAndStructuringFees_label_en-US" xlink:label="lab_kref_ArrangementAndStructuringFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrangement And Structuring Fees</link:label>
    <link:label id="lab_kref_ArrangementAndStructuringFees_documentation_en-US" xlink:label="lab_kref_ArrangementAndStructuringFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Arrangement And Structuring Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ArrangementAndStructuringFees" xlink:href="kref-20260630.xsd#kref_ArrangementAndStructuringFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ArrangementAndStructuringFees" xlink:to="lab_kref_ArrangementAndStructuringFees" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_019e40bf-a171-7ed2-a5b0-232e8676f8a8_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities liabilities, CMBS trusts, at fair value</link:label>
    <link:label id="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AllowanceForCreditLossWriteoff_019e40bf-a0b8-7866-a7fa-2315d4dfacde_negatedTotalLabel_en-US" xlink:label="lab_kref_AllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Write-offs charged</link:label>
    <link:label id="lab_kref_AllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_kref_AllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance For Credit Loss, Writeoff</link:label>
    <link:label id="lab_kref_AllowanceForCreditLossWriteoff_documentation_en-US" xlink:label="lab_kref_AllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allowance For Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AllowanceForCreditLossWriteoff" xlink:href="kref-20260630.xsd#kref_AllowanceForCreditLossWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AllowanceForCreditLossWriteoff" xlink:to="lab_kref_AllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther_019e40bf-a171-7d7a-848d-ce97dd25f906_totalLabel_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther_label_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityOther"/>
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    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_019e40bf-a0b8-73b8-ae78-387c961f775e_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average unvested RSUs (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_019e40bf-a171-75c4-9e1f-390a7e54253b_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived_019e40bf-a0b8-7b02-951a-cc0762119a05_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of aggregate cash proceeds and any capital contributions</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Consolidated Tangible Net Worth, Minimum Percentage of Aggregate Cash Proceeds Made and Capital Contributions Received</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Consolidated Tangible Net Worth, Percentage of Aggregate Cash Proceeds Made and Capital Contributions Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthMinimumPercentageOfAggregateCashProceedsMadeAndCapitalContributionsReceived"/>
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    <link:label id="lab_us-gaap_EquityAbstract_019e40bf-a171-7964-9cfc-93e2548b7617_terseLabel_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityAbstract" xlink:to="lab_us-gaap_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_label_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:to="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived_019e40bf-a0b8-7eb9-98e4-be5cdc2d85ef_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of aggregate cash proceeds and any capital contributions</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Consolidated Tangible Net Worth, Amount Of Aggregate Cash Proceeds Made And Capital Contributions Received</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Consolidated Tangible Net Worth, Amount Of Aggregate Cash Proceeds Made And Capital Contributions Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:to="lab_kref_DebtInstrumentCovenantConsolidatedTangibleNetWorthAmountOfAggregateCashProceedsMadeAndCapitalContributionsReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_019e40bf-a1fd-71aa-9c9f-864a5b8336fa_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
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    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity_019e40bf-a172-7422-8e9d-ebc8c5c7d784_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee as a percent of weighted average adjusted equity (greater of)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, As A Percent Of Weighted Average Adjusted Equity</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, As A Percent Of Weighted Average Adjusted Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyAsAPercentOfWeightedAverageAdjustedEquity"/>
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    <link:label id="lab_srt_OwnershipAxis_019e40bf-a1fd-7921-8b33-3a23d2150e43_terseLabel_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:label id="lab_srt_OwnershipAxis_label_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipAxis" xlink:to="lab_srt_OwnershipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedAcquisition_019e40bf-a1fe-7f0e-9b82-089cb00ccbfd_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedAcquisition" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of real estate owned</link:label>
    <link:label id="lab_kref_RealEstateOwnedAcquisition_label_en-US" xlink:label="lab_kref_RealEstateOwnedAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Acquisition</link:label>
    <link:label id="lab_kref_RealEstateOwnedAcquisition_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Acquisition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedAcquisition" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedAcquisition"/>
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    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_019e40bf-a172-7bea-b061-0d6199e6f722_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
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    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_019e40bf-a0b8-7be5-8fdf-4cdb9063b9b6_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntityChangeInNetAssets_019e40bf-a1fd-78ab-a2d1-0e45c5af8f42_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntityChangeInNetAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in net assets of consolidated variable interest entities, CMBS trusts</link:label>
    <link:label id="lab_kref_VariableInterestEntityChangeInNetAssets_019e40bf-a1fd-7cbc-aac5-b586a7a4c3b7_totalLabel_en-US" xlink:label="lab_kref_VariableInterestEntityChangeInNetAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Change in net assets of consolidated variable interest entities, CMBS trusts</link:label>
    <link:label id="lab_kref_VariableInterestEntityChangeInNetAssets_label_en-US" xlink:label="lab_kref_VariableInterestEntityChangeInNetAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Change in Net Assets</link:label>
    <link:label id="lab_kref_VariableInterestEntityChangeInNetAssets_documentation_en-US" xlink:label="lab_kref_VariableInterestEntityChangeInNetAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Change in Net Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntityChangeInNetAssets" xlink:href="kref-20260630.xsd#kref_VariableInterestEntityChangeInNetAssets"/>
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    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_019e40bf-a0b8-7093-bfd3-fc31ef87bd1e_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, dividend rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePercentage_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendRatePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePercentage" xlink:to="lab_us-gaap_PreferredStockDividendRatePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SeniorMortgageLoanMember_019e40bf-a0b7-7897-b8d0-ab0192163f9b_terseLabel_en-US" xlink:label="lab_kref_SeniorMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Mortgage Loan</link:label>
    <link:label id="lab_kref_SeniorMortgageLoanMember_label_en-US" xlink:label="lab_kref_SeniorMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Mortgage Loan [Member]</link:label>
    <link:label id="lab_kref_SeniorMortgageLoanMember_documentation_en-US" xlink:label="lab_kref_SeniorMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Mortgage Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SeniorMortgageLoanMember" xlink:href="kref-20260630.xsd#kref_SeniorMortgageLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SeniorMortgageLoanMember" xlink:to="lab_kref_SeniorMortgageLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_019e40bf-a1fe-7792-b3cc-916c9ea6fed5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rates (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_019e40bf-a1fe-7443-be4d-b7f664f8f404_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basis spread on variable rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward_019e40bf-a171-793f-90fa-84c4a2c839f8_terseLabel_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward_label_en-US" xlink:label="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MovementInMortgageLoansOnRealEstateRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:to="lab_us-gaap_MovementInMortgageLoansOnRealEstateRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LandAndBuildingImprovementsMember_019e40bf-a0b7-7690-bf80-857ff6f2fe6e_terseLabel_en-US" xlink:label="lab_kref_LandAndBuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land And Building Improvements</link:label>
    <link:label id="lab_kref_LandAndBuildingImprovementsMember_label_en-US" xlink:label="lab_kref_LandAndBuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Building Improvements [Member]</link:label>
    <link:label id="lab_kref_LandAndBuildingImprovementsMember_documentation_en-US" xlink:label="lab_kref_LandAndBuildingImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land And Building Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LandAndBuildingImprovementsMember" xlink:href="kref-20260630.xsd#kref_LandAndBuildingImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LandAndBuildingImprovementsMember" xlink:to="lab_kref_LandAndBuildingImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale_019e40bf-a0b8-712c-8dad-07d553abd29e_terseLabel_en-US" xlink:label="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets related to real estate owned, held-for-sale, net of liabilities</link:label>
    <link:label id="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale_label_en-US" xlink:label="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Net Assets Related to Real Estate Owned, Held For Sale</link:label>
    <link:label id="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale_documentation_en-US" xlink:label="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Net Assets Related to Real Estate Owned, Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:href="kref-20260630.xsd#kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:to="lab_kref_IncreaseDecreaseInNetAssetsRelatedToRealEstateOwnedHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllIndividualsMember_terseLabel_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Individuals</link:label>
    <link:label id="lab_ecd_AllIndividualsMember_label_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Individuals [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllIndividualsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllIndividualsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllIndividualsMember" xlink:to="lab_ecd_AllIndividualsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DeferralPlanMember_019e40bf-a172-7f5e-aa9b-22a330202ad7_terseLabel_en-US" xlink:label="lab_kref_DeferralPlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferral Plan</link:label>
    <link:label id="lab_kref_DeferralPlanMember_label_en-US" xlink:label="lab_kref_DeferralPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferral Plan [Member]</link:label>
    <link:label id="lab_kref_DeferralPlanMember_documentation_en-US" xlink:label="lab_kref_DeferralPlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferral Plan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DeferralPlanMember" xlink:href="kref-20260630.xsd#kref_DeferralPlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DeferralPlanMember" xlink:to="lab_kref_DeferralPlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_019e40bf-a0b8-7476-859d-c101acb6242c_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities assets, CMBS trusts, at fair value</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_019e40bf-a0b7-7e37-959a-acc4a001c478_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average period (Years)</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_019e40bf-a0b8-7849-83df-e52854d2dc65_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_019e40bf-a0b8-7719-8027-b331a5256ecf_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseOperating_019e40bf-a0b8-7809-bcf9-1917d7abc912_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpenseOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOperating" xlink:to="lab_us-gaap_InterestExpenseOperating" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_WestHollywoodCAMember_019e40bf-a171-7959-9766-f1fc902c6655_terseLabel_en-US" xlink:label="lab_kref_WestHollywoodCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">West Hollywood, CA</link:label>
    <link:label id="lab_kref_WestHollywoodCAMember_label_en-US" xlink:label="lab_kref_WestHollywoodCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">West Hollywood, CA [Member]</link:label>
    <link:label id="lab_kref_WestHollywoodCAMember_documentation_en-US" xlink:label="lab_kref_WestHollywoodCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">West Hollywood, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_WestHollywoodCAMember" xlink:href="kref-20260630.xsd#kref_WestHollywoodCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_WestHollywoodCAMember" xlink:to="lab_kref_WestHollywoodCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_019e40bf-a1fd-7479-8f96-8147cd160eaf_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InternalCreditAssessmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentDomain" xlink:to="lab_us-gaap_InternalCreditAssessmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TransferOfLoansToEquityMethodInvestment_019e40bf-a0b8-797e-803f-46a39755b9c9_terseLabel_en-US" xlink:label="lab_kref_TransferOfLoansToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer of senior loan to equity method investment</link:label>
    <link:label id="lab_kref_TransferOfLoansToEquityMethodInvestment_label_en-US" xlink:label="lab_kref_TransferOfLoansToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer Of Loans To Equity Method Investment</link:label>
    <link:label id="lab_kref_TransferOfLoansToEquityMethodInvestment_documentation_en-US" xlink:label="lab_kref_TransferOfLoansToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transfer Of Loans To Equity Method Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TransferOfLoansToEquityMethodInvestment" xlink:href="kref-20260630.xsd#kref_TransferOfLoansToEquityMethodInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TransferOfLoansToEquityMethodInvestment" xlink:to="lab_kref_TransferOfLoansToEquityMethodInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_019e40bf-a0b7-782f-9b78-f95bbdf74ee1_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Not Primary Beneficiary</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Not Primary Beneficiary [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityNotPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PropertyOperatingExpense_019e40bf-a172-71e7-b1f2-72708d2986b2_terseLabel_en-US" xlink:label="lab_kref_PropertyOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses from real estate owned operations</link:label>
    <link:label id="lab_kref_PropertyOperatingExpense_019e40bf-a172-751c-bc82-395947c19466_negatedTotalLabel_en-US" xlink:label="lab_kref_PropertyOperatingExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Expenses from REO operations</link:label>
    <link:label id="lab_kref_PropertyOperatingExpense_label_en-US" xlink:label="lab_kref_PropertyOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Operating Expense</link:label>
    <link:label id="lab_kref_PropertyOperatingExpense_documentation_en-US" xlink:label="lab_kref_PropertyOperatingExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property Operating Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PropertyOperatingExpense" xlink:href="kref-20260630.xsd#kref_PropertyOperatingExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PropertyOperatingExpense" xlink:to="lab_kref_PropertyOperatingExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_019e40bf-a0b7-75d7-939e-cc6cb507c977_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based Compensation</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits_019e40bf-a0b8-768a-859a-9a04b2a2f539_terseLabel_en-US" xlink:label="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Add: Weighted average deferred stock units (in shares)</link:label>
    <link:label id="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits_label_en-US" xlink:label="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Deferred Stock Units</link:label>
    <link:label id="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits_documentation_en-US" xlink:label="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:href="kref-20260630.xsd#kref_IncrementalCommonSharesAttributableToDeferredStockUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:to="lab_kref_IncrementalCommonSharesAttributableToDeferredStockUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
    <link:label id="lab_ecd_PeoMember_label_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoMember" xlink:to="lab_ecd_PeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_019e40bf-a0b8-7b7b-91e3-381d2e6bbd7b_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntitiesNameDomain_019e40bf-a171-7ea1-aece-35a2ffa844de_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Name [Domain]</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesNameDomain_label_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Name [Domain]</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesNameDomain_documentation_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">[Domain] for Variable Interest Entities, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntitiesNameDomain" xlink:href="kref-20260630.xsd#kref_VariableInterestEntitiesNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntitiesNameDomain" xlink:to="lab_kref_VariableInterestEntitiesNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness_019e40bf-a0b8-7d1c-b4b2-87df609484b2_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash liquidity covenant, percent of recourse indebtedness (greater of)</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Percent Of Recourse Indebtedness</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Percent Of Recourse Indebtedness</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:to="lab_kref_DebtInstrumentCovenantCashLiquidityPercentOfRecourseIndebtedness" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable_019e40bf-a1fd-71a0-b505-e7124892c961_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer and Servicing, Asset and Liability Accounted for as Secured Borrowing [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable" xlink:to="lab_us-gaap_ScheduleOfAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_QuarterlyManagementFeeMember_019e40bf-a1fd-7904-b7ae-175bf1b07486_terseLabel_en-US" xlink:label="lab_kref_QuarterlyManagementFeeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Quarterly Management Fee</link:label>
    <link:label id="lab_kref_QuarterlyManagementFeeMember_label_en-US" xlink:label="lab_kref_QuarterlyManagementFeeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quarterly Management Fee [Member]</link:label>
    <link:label id="lab_kref_QuarterlyManagementFeeMember_documentation_en-US" xlink:label="lab_kref_QuarterlyManagementFeeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Quarterly Management Fee [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_QuarterlyManagementFeeMember" xlink:href="kref-20260630.xsd#kref_QuarterlyManagementFeeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_QuarterlyManagementFeeMember" xlink:to="lab_kref_QuarterlyManagementFeeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_019e40bf-a0b8-7aeb-a6cc-223e2cb4c6cd_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpenses_019e40bf-a0b8-7b9c-a2a5-616e2ed099dd_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Operating expense</link:label>
    <link:label id="lab_us-gaap_OperatingExpenses_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses" xlink:to="lab_us-gaap_OperatingExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_019e40bf-a0b8-717e-aefb-a5488e2a8d44_negatedLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Proceeds from loan repayments</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Collections of Principal</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateCollectionsOfPrincipal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:to="lab_srt_MortgageLoansOnRealEstateCollectionsOfPrincipal" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate_019e40bf-a171-7884-9d24-c6ee5ffbd794_terseLabel_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028 (in shares)</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate_label_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Awards Expected To Vest Three Years From Balance Sheet Date</link:label>
    <link:label id="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate_documentation_en-US" xlink:label="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Restricted Stock Awards Expected To Vest Three Years From Balance Sheet Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:href="kref-20260630.xsd#kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:to="lab_kref_ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockAwardsExpectedToVestThreeYearsFromBalanceSheetDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_019e40bf-a1fd-7a4a-8b46-e8b580b8b718_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revolving Credit Agreement</link:label>
    <link:label id="lab_us-gaap_RevolvingCreditFacilityMember_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revolving Credit Facility [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevolvingCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_019e40bf-a171-7140-9bd8-d3d936f7cc68_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_019e40bf-a172-7116-8956-cce89167e67d_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_019e40bf-a172-743e-b598-54b4f28279c8_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_019e40bf-a172-731b-8582-3c9bbb21b986_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgDiscLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgDiscLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgDiscLineItems" xlink:to="lab_ecd_AwardTmgDiscLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentExtensionTerm_019e40bf-a171-77cd-8420-5d4a6001e386_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension term</link:label>
    <link:label id="lab_kref_DebtInstrumentExtensionTerm_label_en-US" xlink:label="lab_kref_DebtInstrumentExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Extension Term</link:label>
    <link:label id="lab_kref_DebtInstrumentExtensionTerm_documentation_en-US" xlink:label="lab_kref_DebtInstrumentExtensionTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Extension Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentExtensionTerm" xlink:href="kref-20260630.xsd#kref_DebtInstrumentExtensionTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentExtensionTerm" xlink:to="lab_kref_DebtInstrumentExtensionTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_019e40bf-a171-7ab6-ac6b-049e584b0025_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Liabilities Recorded at Fair Value on Recurring Basis</link:label>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_019e40bf-a172-73a5-b187-a41f419bfe7d_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_019e40bf-a172-7a10-83e7-82398008eebf_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Diluted common share (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareDiluted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_019e40bf-a171-7fff-900a-b90e376a29dc_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InternalCreditAssessmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentAxis" xlink:to="lab_us-gaap_InternalCreditAssessmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProvisionForLoanLossesExpensed_019e40bf-a171-7e49-aa7e-d40e2baf81e1_negatedNetLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">(Provision for) reversal of credit losses</link:label>
    <link:label id="lab_us-gaap_ProvisionForLoanLossesExpensed_019e40bf-a171-7712-8831-bb04962267c1_verboseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provision for (reversal of) credit losses, net</link:label>
    <link:label id="lab_us-gaap_ProvisionForLoanLossesExpensed_label_en-US" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Loss, Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProvisionForLoanLossesExpensed" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProvisionForLoanLossesExpensed"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanLossesExpensed" xlink:to="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_019e40bf-a0b8-7e43-b578-60896782190e_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-place lease intangibles</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Amortization Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfIntangibleAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockValueOutstanding_019e40bf-a171-7069-9891-6f18580075e3_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockValueOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock, $0.01 par value, 50,000,000 shares authorized Series A cumulative redeemable preferred stock, (13,110,000 shares issued and outstanding as of June&#160;30, 2026 and December&#160;31, 2025); liquidation preference of $327,750, or $25.00 per share</link:label>
    <link:label id="lab_us-gaap_PreferredStockValueOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockValueOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Value, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockValueOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockValueOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockValueOutstanding" xlink:to="lab_us-gaap_PreferredStockValueOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_019e40bf-a171-73f5-95f7-c2e885ceddec_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_019e40bf-a171-7dda-8638-f27451e59455_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year three</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy_019e40bf-a1fd-7ab9-9674-920a1a9f6e98_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans Held-For-Investment and Allowance for Credit Losses</link:label>
    <link:label id="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy_label_en-US" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Held-for-Investment [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy" xlink:to="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_019e40bf-a172-7260-8b97-c9c70772212d_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings under secured financing agreements</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLongTermLinesOfCredit_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Long-Term Lines of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:to="lab_us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_BuildingImprovements_019e40bf-a0b7-7127-bac3-67399cbec37b_terseLabel_en-US" xlink:label="lab_kref_BuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned - building improvements</link:label>
    <link:label id="lab_kref_BuildingImprovements_label_en-US" xlink:label="lab_kref_BuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building Improvements</link:label>
    <link:label id="lab_kref_BuildingImprovements_documentation_en-US" xlink:label="lab_kref_BuildingImprovements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_BuildingImprovements" xlink:href="kref-20260630.xsd#kref_BuildingImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_BuildingImprovements" xlink:to="lab_kref_BuildingImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentLineItems_019e40bf-a0b8-77b7-b1f6-be768c22f29c_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Purchase Commitment [Line Items]</link:label>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentLineItems_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Purchase Commitment [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermPurchaseCommitmentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermPurchaseCommitmentLineItems" xlink:to="lab_us-gaap_LongTermPurchaseCommitmentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_019e40bf-a0b8-7685-911d-65cc5fd1f6d5_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MeasurementInputDiscountMarginMember_019e40bf-a171-7018-9715-8a403ddfacc1_terseLabel_en-US" xlink:label="lab_kref_MeasurementInputDiscountMarginMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount margin</link:label>
    <link:label id="lab_kref_MeasurementInputDiscountMarginMember_label_en-US" xlink:label="lab_kref_MeasurementInputDiscountMarginMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Margin [Member]</link:label>
    <link:label id="lab_kref_MeasurementInputDiscountMarginMember_documentation_en-US" xlink:label="lab_kref_MeasurementInputDiscountMarginMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Margin</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MeasurementInputDiscountMarginMember" xlink:href="kref-20260630.xsd#kref_MeasurementInputDiscountMarginMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MeasurementInputDiscountMarginMember" xlink:to="lab_kref_MeasurementInputDiscountMarginMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount_019e40bf-a0b8-79ec-9fae-4d0e44416748_terseLabel_en-US" xlink:label="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding principal, collateral assets</link:label>
    <link:label id="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount_label_en-US" xlink:label="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers Accounted For As Secured Borrowings, Assets, Face Amount</link:label>
    <link:label id="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount_documentation_en-US" xlink:label="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Transfers Accounted For As Secured Borrowings, Assets, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:href="kref-20260630.xsd#kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:to="lab_kref_TransfersAccountedForAsSecuredBorrowingsAssetsFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1_019e40bf-a0b8-784a-b054-3ac9952cbac0_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average life (Years)</link:label>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreement, Weighted-Average Maturity Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1" xlink:to="lab_us-gaap_RepurchaseAgreementCounterpartyWeightedAverageMaturityOfAgreements1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SuretyBondMember_019f7128-5ec3-7939-9b2f-0e4918e3849c_terseLabel_en-US" xlink:label="lab_us-gaap_SuretyBondMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Surety Bond</link:label>
    <link:label id="lab_us-gaap_SuretyBondMember_label_en-US" xlink:label="lab_us-gaap_SuretyBondMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surety Bond [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SuretyBondMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SuretyBondMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SuretyBondMember" xlink:to="lab_us-gaap_SuretyBondMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_019e40bf-a1fe-7fd3-a36d-c9e976a982e0_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsTextBlock" xlink:to="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MeasurementInputDurationMember_019e40bf-a1fd-757d-b01c-0f5bc9a59b65_terseLabel_en-US" xlink:label="lab_kref_MeasurementInputDurationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Duration (years)</link:label>
    <link:label id="lab_kref_MeasurementInputDurationMember_label_en-US" xlink:label="lab_kref_MeasurementInputDurationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Duration [Member]</link:label>
    <link:label id="lab_kref_MeasurementInputDurationMember_documentation_en-US" xlink:label="lab_kref_MeasurementInputDurationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Measurement Input, Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MeasurementInputDurationMember" xlink:href="kref-20260630.xsd#kref_MeasurementInputDurationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MeasurementInputDurationMember" xlink:to="lab_kref_MeasurementInputDurationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ExpenseReimbursementsMember_019e40bf-a0b8-7b39-8a2b-ad52fe76d473_terseLabel_en-US" xlink:label="lab_kref_ExpenseReimbursementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense reimbursements</link:label>
    <link:label id="lab_kref_ExpenseReimbursementsMember_label_en-US" xlink:label="lab_kref_ExpenseReimbursementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Reimbursements [Member]</link:label>
    <link:label id="lab_kref_ExpenseReimbursementsMember_documentation_en-US" xlink:label="lab_kref_ExpenseReimbursementsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Expense Reimbursements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ExpenseReimbursementsMember" xlink:href="kref-20260630.xsd#kref_ExpenseReimbursementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ExpenseReimbursementsMember" xlink:to="lab_kref_ExpenseReimbursementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_019e40bf-a0b8-7f12-be69-ea871077699e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_019e40bf-a0b8-7353-bc53-c2b6e2c7d2fd_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase and retirement of common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue_019e40bf-a172-728a-8ff0-d52a4d757b69_periodStartLabel_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue_019e40bf-a172-7b29-8c91-6a95c038d841_periodEndLabel_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue_label_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability) Value</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability) Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:to="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_019e40bf-a1fe-7fa0-a4c6-37b857a3e7eb_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInInterestPayableNet_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Interest Payable, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInInterestPayableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:to="lab_us-gaap_IncreaseDecreaseInInterestPayableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RECOPIMember_019e40bf-a171-7019-85e2-210ebd2eb605_terseLabel_en-US" xlink:label="lab_kref_RECOPIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">RECOP I</link:label>
    <link:label id="lab_kref_RECOPIMember_label_en-US" xlink:label="lab_kref_RECOPIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">RECOP I [Member]</link:label>
    <link:label id="lab_kref_RECOPIMember_documentation_en-US" xlink:label="lab_kref_RECOPIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">RECOP I [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RECOPIMember" xlink:href="kref-20260630.xsd#kref_RECOPIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RECOPIMember" xlink:to="lab_kref_RECOPIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear_019e40bf-a171-7065-a344-88e08feea4a6_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year four, write-off</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear_label_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated, Gross Write-off, &#8203;Four&#8203; Years&#8203; Before &#8203;Latest&#8203; Fiscal&#8203; Year</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear_documentation_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated, Gross Write-off, &#8203;Four&#8203; Years&#8203; Before &#8203;Latest&#8203; Fiscal&#8203; Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:href="kref-20260630.xsd#kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:to="lab_kref_FinancingReceivableOriginatedGrossWriteOffFourYearsBeforeLatestFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_019e40bf-a0b8-78b3-aa7c-88754feeae2e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Debt Obligations</link:label>
    <link:label id="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Maturities of Long-Term Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_019e40bf-a171-799c-a0f0-612807769d6e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualAxis_019e40bf-a0b8-7a14-b57b-f2072d9da735_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of Individual [Axis]</link:label>
    <link:label id="lab_srt_TitleOfIndividualAxis_label_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title and Position [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_TitleOfIndividualAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_TitleOfIndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_TitleOfIndividualAxis" xlink:to="lab_srt_TitleOfIndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_019e40bf-a0b8-7a66-bb88-ddf226e140f6_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockAxis_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockAxis" xlink:to="lab_us-gaap_SubsidiarySaleOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_019e40bf-a171-7e53-b8c7-d0d5b7f81f14_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average funding cost</link:label>
    <link:label id="lab_us-gaap_LongtermDebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Weighted Average Interest Rate, at Point in Time</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtWeightedAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_LongtermDebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MultifamilyMember_019e40bf-a0b7-7a9b-89b2-df59422b5543_terseLabel_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily</link:label>
    <link:label id="lab_srt_MultifamilyMember_label_en-US" xlink:label="lab_srt_MultifamilyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MultifamilyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MultifamilyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MultifamilyMember" xlink:to="lab_srt_MultifamilyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_019e40bf-a171-71e7-8fbc-f5262393d6a4_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency forward contracts (includes unrealized gains (losses) of ($5,333) and $1,488 in 2026 and $0 and $0 in 2025, respectively)</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_019e40bf-a171-7202-8c6c-6bcb8ece2a9d_totalLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on derivative instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_label_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_019e40bf-a1fd-7644-82a9-365de8560a84_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Dividends Declared</link:label>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Declared [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsDeclaredTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:to="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock_019e40bf-a0b8-75a1-9412-c777f318d6bc_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued Interest Receivables</link:label>
    <link:label id="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock_label_en-US" xlink:label="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Interest Receivables [Policy Text Block]</link:label>
    <link:label id="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock_documentation_en-US" xlink:label="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Interest Receivables [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:href="kref-20260630.xsd#kref_FinancingReceivableInterestReceivablesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:to="lab_kref_FinancingReceivableInterestReceivablesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherRealEstate_019e40bf-a0b8-7351-a31e-202ec1483c73_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, held-for-investment, net</link:label>
    <link:label id="lab_us-gaap_OtherRealEstate_label_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherRealEstate" xlink:to="lab_us-gaap_OtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_019e40bf-a0b8-712b-b815-3545d115f0b0_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal borrowings</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_019e40bf-a172-7404-b944-e997b1dd8d06_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionDomain" xlink:to="lab_us-gaap_RelatedPartyTransactionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings_019e40bf-a171-74c2-b7c2-959501be6b0d_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of adjusted earnings (Months)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Numerator For Incentive Compensation, Period Of Adjusted Earnings</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Numerator For Incentive Compensation, Period Of Adjusted Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyNumeratorForIncentiveCompensationPeriodOfAdjustedEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock_019e40bf-a1fd-75dd-9f71-8240b9812e0d_terseLabel_en-US" xlink:label="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Collateral Assets and Respective Borrowings</link:label>
    <link:label id="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock_label_en-US" xlink:label="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Collateral Assets And Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:label id="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock_documentation_en-US" xlink:label="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Collateral Assets And Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:href="kref-20260630.xsd#kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:to="lab_kref_ScheduleOfCollateralAssetsAndLongTermDebtInstrumentsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear_019e40bf-a171-7fc1-b0aa-be97cb0a7495_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year one, write-off</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear_label_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated,&#8203; Gross Write-off, In &#8203;Fiscal&#8203; Year&#8203; Before &#8203;Latest &#8203;Fiscal&#8203; Year</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear_documentation_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated,&#8203; Gross Write-off, In &#8203;Fiscal&#8203; Year&#8203; Before &#8203;Latest &#8203;Fiscal&#8203; Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:href="kref-20260630.xsd#kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:to="lab_kref_FinancingReceivableOriginatedGrossWriteOffInFiscalYearBeforeLatestFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage_019e40bf-a0b8-770e-ada7-efac2d0f26e6_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incentive compensation fee percent (as a percent)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Incentive Compensation Percentage</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Incentive Compensation Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyIncentiveCompensationPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate_019e40bf-a171-7b29-a031-b6866a068011_terseLabel_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in mortgage loan, basis spread on variable rate</link:label>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate_label_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Investment In Mortgage Loan, Percent Financed, Basis Spread On Variable Rate</link:label>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate_documentation_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Investment In Mortgage Loan, Percent Financed, Basis Spread On Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:href="kref-20260630.xsd#kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:to="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinancedBasisSpreadOnVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialLoansHeldForSaleMember_019e40bf-a172-7721-bf91-71607adfa284_terseLabel_en-US" xlink:label="lab_kref_CommercialLoansHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, loan held-for-sale</link:label>
    <link:label id="lab_kref_CommercialLoansHeldForSaleMember_label_en-US" xlink:label="lab_kref_CommercialLoansHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Loans Held-For-Sale [Member]</link:label>
    <link:label id="lab_kref_CommercialLoansHeldForSaleMember_documentation_en-US" xlink:label="lab_kref_CommercialLoansHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Loans Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialLoansHeldForSaleMember" xlink:href="kref-20260630.xsd#kref_CommercialLoansHeldForSaleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialLoansHeldForSaleMember" xlink:to="lab_kref_CommercialLoansHeldForSaleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:to="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DiligenceAndServicingFeesMember_019e40bf-a0b8-7fcd-9f83-b166b58276a7_terseLabel_en-US" xlink:label="lab_kref_DiligenceAndServicingFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diligence and servicing fees</link:label>
    <link:label id="lab_kref_DiligenceAndServicingFeesMember_label_en-US" xlink:label="lab_kref_DiligenceAndServicingFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diligence And Servicing Fees [Member]</link:label>
    <link:label id="lab_kref_DiligenceAndServicingFeesMember_documentation_en-US" xlink:label="lab_kref_DiligenceAndServicingFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Diligence And Servicing Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DiligenceAndServicingFeesMember" xlink:href="kref-20260630.xsd#kref_DiligenceAndServicingFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DiligenceAndServicingFeesMember" xlink:to="lab_kref_DiligenceAndServicingFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_AZ_019e40bf-a0b8-72d8-80f2-36f4a41752a3_terseLabel_en-US" xlink:label="lab_stpr_AZ" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arizona</link:label>
    <link:label id="lab_stpr_AZ_label_en-US" xlink:label="lab_stpr_AZ" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ARIZONA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_AZ" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_AZ"/>
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    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_019e40bf-a171-7968-a26f-7f1967815a18_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Allowance for Credit Losses</link:label>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_019e40bf-a171-781d-9ae8-861dec9e893e_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Common stock issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_019e40bf-a1fd-7d5c-a3a8-e1af80e4603b_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue_019e40bf-a1fd-74c3-bb53-ff55173965af_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssetsDisclosureTextBlock_019e40bf-a0b8-75b1-993e-fcd94df72136_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities</link:label>
    <link:label id="lab_us-gaap_OtherAssetsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherAssetsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssetsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsDisclosureTextBlock" xlink:to="lab_us-gaap_OtherAssetsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PreferredStockDividendsPerShareAnnual_019e40bf-a1fe-71ce-bc01-28f0102bba1f_terseLabel_en-US" xlink:label="lab_kref_PreferredStockDividendsPerShareAnnual" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, dividends per share, annual (usd per share)</link:label>
    <link:label id="lab_kref_PreferredStockDividendsPerShareAnnual_label_en-US" xlink:label="lab_kref_PreferredStockDividendsPerShareAnnual" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Annual</link:label>
    <link:label id="lab_kref_PreferredStockDividendsPerShareAnnual_documentation_en-US" xlink:label="lab_kref_PreferredStockDividendsPerShareAnnual" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Annual</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PreferredStockDividendsPerShareAnnual" xlink:href="kref-20260630.xsd#kref_PreferredStockDividendsPerShareAnnual"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PreferredStockDividendsPerShareAnnual" xlink:to="lab_kref_PreferredStockDividendsPerShareAnnual" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset_019e40bf-a0b8-791c-a1b4-4e42a3dc50b0_terseLabel_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan principal repayments held by a servicer</link:label>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset_label_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Principal Repayments Held By A Servicer, Asset</link:label>
    <link:label id="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset_documentation_en-US" xlink:label="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Principal Repayments Held By A Servicer, Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:href="kref-20260630.xsd#kref_LoanPrincipalRepaymentsHeldByAServicerAsset"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:to="lab_kref_LoanPrincipalRepaymentsHeldByAServicerAsset" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_019e40bf-a171-7164-a5f8-4e0140d85805_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_CA_019e40bf-a171-7824-a72b-ded4bbd5b5c3_terseLabel_en-US" xlink:label="lab_stpr_CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">California</link:label>
    <link:label id="lab_stpr_CA_label_en-US" xlink:label="lab_stpr_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CALIFORNIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_CA" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_CA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_CA" xlink:to="lab_stpr_CA" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:to="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_019e40bf-a172-7fa9-9470-955ef1868850_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems" xlink:to="lab_us-gaap_VariableInterestEntityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidatedEntityExcludingVieMember_019e40bf-a171-7bdf-9603-d4b3cca5462a_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidatedEntityExcludingVieMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entity, Excluding VIE</link:label>
    <link:label id="lab_us-gaap_ConsolidatedEntityExcludingVieMember_label_en-US" xlink:label="lab_us-gaap_ConsolidatedEntityExcludingVieMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entity, Excluding VIE [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidatedEntityExcludingVieMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConsolidatedEntityExcludingVieMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidatedEntityExcludingVieMember" xlink:to="lab_us-gaap_ConsolidatedEntityExcludingVieMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrTerminationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Date</link:label>
    <link:label id="lab_ecd_TrdArrTerminationDate_label_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Termination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrTerminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrTerminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrTerminationDate" xlink:to="lab_ecd_TrdArrTerminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FavorableLeaseIntangibles_019e40bf-a1fd-7608-b5da-d71b0a6193bb_terseLabel_en-US" xlink:label="lab_kref_FavorableLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Favorable lease intangibles</link:label>
    <link:label id="lab_kref_FavorableLeaseIntangibles_label_en-US" xlink:label="lab_kref_FavorableLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Favorable Lease Intangibles</link:label>
    <link:label id="lab_kref_FavorableLeaseIntangibles_documentation_en-US" xlink:label="lab_kref_FavorableLeaseIntangibles" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Favorable Lease Intangibles</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FavorableLeaseIntangibles" xlink:href="kref-20260630.xsd#kref_FavorableLeaseIntangibles"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FavorableLeaseIntangibles" xlink:to="lab_kref_FavorableLeaseIntangibles" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_019e40bf-a0b8-79e3-889a-48998937d4c9_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract" xlink:to="lab_us-gaap_SubsequentEventsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_019e40bf-a0b8-7b27-9938-76be7a543558_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList_019e40bf-a0b8-786f-8608-cdff4a8a5bb9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList_label_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList" xlink:to="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleList" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityLenderDomain_019e40bf-a1fe-714a-a68c-7c23180cd115_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLenderDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityLenderDomain_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityLenderDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityLenderDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityLenderDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="lab_us-gaap_LineOfCreditFacilityLenderDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage_019e40bf-a172-7d22-81dd-633710f80bbd_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Principal %</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Total Exposure Percentage</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage_documentation_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Total Exposure Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:href="kref-20260630.xsd#kref_MortgageLoansOnRealEstateTotalExposurePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:to="lab_kref_MortgageLoansOnRealEstateTotalExposurePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesAbstract_019e40bf-a171-76ac-8835-51a7a321c452_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesAbstract" xlink:to="lab_us-gaap_OtherLiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardGrantDateFairValue" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardGrantDateFairValue" xlink:to="lab_ecd_AwardGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CarrolltonTXMember_019f40c6-a413-7255-879e-abd150ae1a4c_terseLabel_en-US" xlink:label="lab_kref_CarrolltonTXMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrollton, TX</link:label>
    <link:label id="lab_kref_CarrolltonTXMember_label_en-US" xlink:label="lab_kref_CarrolltonTXMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrollton, TX [Member]</link:label>
    <link:label id="lab_kref_CarrolltonTXMember_documentation_en-US" xlink:label="lab_kref_CarrolltonTXMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrollton, TX</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CarrolltonTXMember" xlink:href="kref-20260630.xsd#kref_CarrolltonTXMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CarrolltonTXMember" xlink:to="lab_kref_CarrolltonTXMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PortlandORMember_019e40bf-a171-7b64-a286-108ad852c152_terseLabel_en-US" xlink:label="lab_kref_PortlandORMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portland, OR</link:label>
    <link:label id="lab_kref_PortlandORMember_label_en-US" xlink:label="lab_kref_PortlandORMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Portland, OR [Member]</link:label>
    <link:label id="lab_kref_PortlandORMember_documentation_en-US" xlink:label="lab_kref_PortlandORMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Portland, OR</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PortlandORMember" xlink:href="kref-20260630.xsd#kref_PortlandORMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PortlandORMember" xlink:to="lab_kref_PortlandORMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialMortgageLoanMember_019e40bf-a171-7708-8041-18def8b94b97_terseLabel_en-US" xlink:label="lab_kref_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans</link:label>
    <link:label id="lab_kref_CommercialMortgageLoanMember_label_en-US" xlink:label="lab_kref_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loan [Member]</link:label>
    <link:label id="lab_kref_CommercialMortgageLoanMember_documentation_en-US" xlink:label="lab_kref_CommercialMortgageLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Mortgage Loan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialMortgageLoanMember" xlink:href="kref-20260630.xsd#kref_CommercialMortgageLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialMortgageLoanMember" xlink:to="lab_kref_CommercialMortgageLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTableTextBlock" xlink:to="lab_ecd_PvpTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_019e40bf-a171-7dfd-addf-fd3a229f360a_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock repurchase program, remaining amount</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Remaining Authorized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:to="lab_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingCostsAndExpenses_019e40bf-a171-75a8-b6bb-8a6174a394e2_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingCostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</link:label>
    <link:label id="lab_us-gaap_OperatingCostsAndExpenses_label_en-US" xlink:label="lab_us-gaap_OperatingCostsAndExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Costs and Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingCostsAndExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingCostsAndExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingCostsAndExpenses" xlink:to="lab_us-gaap_OperatingCostsAndExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrDuration_terseLabel_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangement Duration</link:label>
    <link:label id="lab_ecd_TrdArrDuration_label_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrDuration" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrDuration" xlink:to="lab_ecd_TrdArrDuration" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RetailSiteMember_019e40bf-a0b8-79a1-b20e-ccd2fb97e41a_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_srt_RetailSiteMember_label_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Site [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RetailSiteMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RetailSiteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RetailSiteMember" xlink:to="lab_srt_RetailSiteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ForeignExchangeContractEuroMember_019e40bf-a172-73d3-a7e3-dd279c94efd8_terseLabel_en-US" xlink:label="lab_kref_ForeignExchangeContractEuroMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward Contract - EUR</link:label>
    <link:label id="lab_kref_ForeignExchangeContractEuroMember_label_en-US" xlink:label="lab_kref_ForeignExchangeContractEuroMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract, Euro [Member]</link:label>
    <link:label id="lab_kref_ForeignExchangeContractEuroMember_documentation_en-US" xlink:label="lab_kref_ForeignExchangeContractEuroMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract, Euro</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ForeignExchangeContractEuroMember" xlink:href="kref-20260630.xsd#kref_ForeignExchangeContractEuroMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ForeignExchangeContractEuroMember" xlink:to="lab_kref_ForeignExchangeContractEuroMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_019e40bf-a0b8-7229-a7c7-41ba1e1e05df_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_019e40bf-a1fd-73a4-83b4-88976af2e13d_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Not Adopted [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:to="lab_ecd_InsiderTrdPoliciesProcNotAdoptedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PhiladelphiaPAMember_019e40bf-a171-7947-99ce-ea92236bd532_terseLabel_en-US" xlink:label="lab_kref_PhiladelphiaPAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Philadelphia</link:label>
    <link:label id="lab_kref_PhiladelphiaPAMember_label_en-US" xlink:label="lab_kref_PhiladelphiaPAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Philadelphia, PA [Member]</link:label>
    <link:label id="lab_kref_PhiladelphiaPAMember_documentation_en-US" xlink:label="lab_kref_PhiladelphiaPAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Philadelphia, PA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PhiladelphiaPAMember" xlink:href="kref-20260630.xsd#kref_PhiladelphiaPAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PhiladelphiaPAMember" xlink:to="lab_kref_PhiladelphiaPAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_019e40bf-a1fe-7df7-9504-863137ed5c55_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) from equity method investments</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssetsAbstract_019e40bf-a1fe-79e2-b29f-e577b4f049bc_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsAbstract_label_en-US" xlink:label="lab_us-gaap_OtherAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsAbstract" xlink:to="lab_us-gaap_OtherAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SelfStorageVariousMember_019e40bf-a1fd-7838-9dee-8d47eb73ae5c_terseLabel_en-US" xlink:label="lab_kref_SelfStorageVariousMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Self-Storage</link:label>
    <link:label id="lab_kref_SelfStorageVariousMember_label_en-US" xlink:label="lab_kref_SelfStorageVariousMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Self Storage, Various [Member]</link:label>
    <link:label id="lab_kref_SelfStorageVariousMember_documentation_en-US" xlink:label="lab_kref_SelfStorageVariousMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Self Storage / various</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SelfStorageVariousMember" xlink:href="kref-20260630.xsd#kref_SelfStorageVariousMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SelfStorageVariousMember" xlink:to="lab_kref_SelfStorageVariousMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_019e40bf-a1fd-7ee3-9b4e-fab40ce6a31a_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting period (Years)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_019e40bf-a171-7e87-869f-946b9edcb6dc_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross price of property sold</link:label>
    <link:label id="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Disposition of Real Estate, Discontinued Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:to="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_019e40bf-a1fd-73ea-b72b-f9089eedc1af_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_019e40bf-a0b8-7257-acae-783d89a556b0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_019e40bf-a171-7684-86f7-27ebc78d2fa9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_019e40bf-a171-7d1c-9ef2-9a4726d47777_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockSharesAcquired_019e40bf-a0b8-7a7b-97a2-070b5be252ee_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockSharesAcquired_label_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Shares, Acquired</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TreasuryStockSharesAcquired"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesAcquired" xlink:to="lab_us-gaap_TreasuryStockSharesAcquired" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_019e40bf-a172-7a55-ba67-abeb81baadfe_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived, Estimated Amortization Expense, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StatementGeographicalAxis_019e40bf-a1fd-7dc5-8788-dd1af1092629_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StatementGeographicalAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StatementGeographicalAxis" xlink:to="lab_srt_StatementGeographicalAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_019e40bf-a0b7-772d-8f3c-800c32c9ef4e_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_019e40bf-a0b7-7de0-9d58-4ced5490ea6a_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_019e40bf-a0b7-746d-a2b5-8e07f033cfbb_totalLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract_019e40bf-a1fe-73c4-9322-b9f5688a4fb0_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-place Lease Intangible Assets</link:label>
    <link:label id="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract_label_en-US" xlink:label="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, In-Place Lease Intangible Assets [Abstract]</link:label>
    <link:label id="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, In-Place Lease Intangible Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:to="lab_kref_RealEstateOwnedInPlaceLeaseIntangibleAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialRealEstateLineItems_019e40bf-a0b8-7304-a3f0-2f3542a7d551_terseLabel_en-US" xlink:label="lab_kref_CommercialRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Holdings [Line Items]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLineItems_label_en-US" xlink:label="lab_kref_CommercialRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate [Line Items]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLineItems_documentation_en-US" xlink:label="lab_kref_CommercialRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialRealEstateLineItems" xlink:href="kref-20260630.xsd#kref_CommercialRealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialRealEstateLineItems" xlink:to="lab_kref_CommercialRealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityAxis_019e40bf-a0b8-7811-a82f-b8f9eadd1245_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsPolicy_019e40bf-a172-7a98-b375-f0ed9829868c_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsPolicy_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsPolicy" xlink:to="lab_us-gaap_EquityMethodInvestmentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e40bf-a171-78cb-b235-7705ae8cbddf_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents and Restricted Cash at Beginning of Period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e40bf-a171-7e0a-9148-7aeafd96b395_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalents and Restricted Cash at End of Period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_019e40bf-a171-7a44-907a-656ea8528100_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonNeosMember_terseLabel_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-NEOs</link:label>
    <link:label id="lab_ecd_NonNeosMember_label_en-US" xlink:label="lab_ecd_NonNeosMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-NEOs [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonNeosMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonNeosMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonNeosMember" xlink:to="lab_ecd_NonNeosMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_019e40bf-a172-79e3-afed-1b7c5ae9174d_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesRollForward"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_019e40bf-a1fd-7a79-b61c-e4ca461285ba_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity interest (as a percent)</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_019e40bf-a0b7-7b9f-ab28-b65af1843a4b_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Secured Term Loan</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Debt [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDebtTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_019e40bf-a171-73f8-815b-935ed0fbd94f_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_GA_019e40bf-a172-7006-9099-63fa046a57b8_terseLabel_en-US" xlink:label="lab_stpr_GA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Georgia</link:label>
    <link:label id="lab_stpr_GA_label_en-US" xlink:label="lab_stpr_GA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">GEORGIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_GA" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_GA"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_019e40bf-a1fe-750c-870e-0c7e00dbcda8_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_019e40bf-a0b8-7b1f-b0d9-dd5842ee5242_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember_019e40bf-a1fe-7e2c-8c3e-23e2b47d63e0_terseLabel_en-US" xlink:label="lab_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impaired/Loss Likely</link:label>
    <link:label id="lab_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember_label_en-US" xlink:label="lab_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unlikely to be Collected Financing Receivable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnlikelyToBeCollectedFinancingReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember" xlink:to="lab_us-gaap_UnlikelyToBeCollectedFinancingReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_019e40bf-a0b7-75f0-a59c-72d05f39075f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments to reacquire common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_019e40bf-a172-75eb-8718-97c5520126bd_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CollateralizedLoanObligationNetMember_019e40bf-a171-7949-9ef5-69dbb2185599_terseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationNetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations, net</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationNetMember_label_en-US" xlink:label="lab_kref_CollateralizedLoanObligationNetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation, Net [Member]</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationNetMember_documentation_en-US" xlink:label="lab_kref_CollateralizedLoanObligationNetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation, Net [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CollateralizedLoanObligationNetMember" xlink:href="kref-20260630.xsd#kref_CollateralizedLoanObligationNetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CollateralizedLoanObligationNetMember" xlink:to="lab_kref_CollateralizedLoanObligationNetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_019e40bf-a172-78bb-a173-ca82d4d66882_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Derivatives Financial Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_019e40bf-a171-79d1-8e86-4ceef6f5505d_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:to="lab_srt_MortgageLoansOnRealEstateByLoanDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_019e40bf-a0b8-78cd-bc3c-aa1e11d28261_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_019e40bf-a171-7c74-a762-87e940f6ea08_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NamedExecutiveOfficersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_019e40bf-a1fd-70a8-80e5-fe5526c80d93_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_FL_019e40bf-a172-7fb2-a006-277a709a6e48_terseLabel_en-US" xlink:label="lab_stpr_FL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Florida</link:label>
    <link:label id="lab_stpr_FL_label_en-US" xlink:label="lab_stpr_FL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FLORIDA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_FL" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_FL"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_FL" xlink:to="lab_stpr_FL" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTable_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTable" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTable" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_DC_019e40bf-a171-7d47-9774-d2d3861b1303_terseLabel_en-US" xlink:label="lab_stpr_DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Washington D.C.</link:label>
    <link:label id="lab_stpr_DC_label_en-US" xlink:label="lab_stpr_DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DISTRICT OF COLUMBIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_DC" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_DC"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_DC" xlink:to="lab_stpr_DC" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSecuredDebt_019e40bf-a172-7323-bc74-48465e73f9ea_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of secured term loan</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfSecuredDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Secured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProceedsFromIssuanceOfSecuredDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfSecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_019e40bf-a0b8-787f-ade8-f0e5c2177507_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RaleighNCMember_019e40bf-a0b8-7842-8e92-216f515d906a_terseLabel_en-US" xlink:label="lab_kref_RaleighNCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Raleigh, NC</link:label>
    <link:label id="lab_kref_RaleighNCMember_label_en-US" xlink:label="lab_kref_RaleighNCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raleigh, NC [Member]</link:label>
    <link:label id="lab_kref_RaleighNCMember_documentation_en-US" xlink:label="lab_kref_RaleighNCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Raleigh, NC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RaleighNCMember" xlink:href="kref-20260630.xsd#kref_RaleighNCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RaleighNCMember" xlink:to="lab_kref_RaleighNCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_019e40bf-a0b8-7f73-b81b-3f24abda50cd_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_019e40bf-a1fd-7632-b6b4-d311c1774ce0_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_CO_019e40bf-a1fd-73b8-ad23-447ad0cb807c_terseLabel_en-US" xlink:label="lab_stpr_CO" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colorado</link:label>
    <link:label id="lab_stpr_CO_label_en-US" xlink:label="lab_stpr_CO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">COLORADO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_CO" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_CO"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_CO" xlink:to="lab_stpr_CO" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock_019e40bf-a1fd-7d2b-a2c0-5c9547624dc5_terseLabel_en-US" xlink:label="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Net Interest Income Included in Consolidated Statement of Income</link:label>
    <link:label id="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock_label_en-US" xlink:label="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Net Assets Under Secured Borrowings [Table Text Block]</link:label>
    <link:label id="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock_documentation_en-US" xlink:label="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Net Assets Under Secured Borrowings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:href="kref-20260630.xsd#kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:to="lab_kref_ScheduleOfNetAssetsUnderSecuredBorrowingsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_019e40bf-a1fd-7efc-8e4c-60a6ff358dd0_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:label id="lab_us-gaap_RealEstatePropertiesAxis_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Property Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstatePropertiesAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstatePropertiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesAxis" xlink:to="lab_us-gaap_RealEstatePropertiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_019e40bf-a1fd-77e6-80b1-a44fd6a042d8_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_019e40bf-a172-760a-be9a-cc993a45741f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase / Consolidation of CMBS trust/ Repayments</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_019e40bf-a0b8-794c-95f0-f8b9dc4814f8_verboseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests in equity of consolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntitiesNameAxis_019e40bf-a171-7641-ae18-f21fe09aff13_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Name [Axis]</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesNameAxis_label_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Name [Axis]</link:label>
    <link:label id="lab_kref_VariableInterestEntitiesNameAxis_documentation_en-US" xlink:label="lab_kref_VariableInterestEntitiesNameAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entities, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntitiesNameAxis" xlink:href="kref-20260630.xsd#kref_VariableInterestEntitiesNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntitiesNameAxis" xlink:to="lab_kref_VariableInterestEntitiesNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXVIMember_019e40bf-a171-7ff7-82c4-261cbdea87d2_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXVIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XVI</link:label>
    <link:label id="lab_kref_KREFLendingXVIMember_label_en-US" xlink:label="lab_kref_KREFLendingXVIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XVI [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXVIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXVIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XVI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXVIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXVIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXVIMember" xlink:to="lab_kref_KREFLendingXVIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_label_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Additional402vDisclosureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Additional402vDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Additional402vDisclosureTextBlock" xlink:to="lab_ecd_Additional402vDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MixedUseMember_019e40bf-a171-7d2a-bc62-d91dcb8b4543_terseLabel_en-US" xlink:label="lab_kref_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mixed Use</link:label>
    <link:label id="lab_kref_MixedUseMember_label_en-US" xlink:label="lab_kref_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mixed Use [Member]</link:label>
    <link:label id="lab_kref_MixedUseMember_documentation_en-US" xlink:label="lab_kref_MixedUseMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mixed Use</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MixedUseMember" xlink:href="kref-20260630.xsd#kref_MixedUseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MixedUseMember" xlink:to="lab_kref_MixedUseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_019e40bf-a1fd-716e-85df-267b5c3c1fd6_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TabularListTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tabular List, Table</link:label>
    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TabularListTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TabularListTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_019e40bf-a1fd-7864-86db-2a99e339f6c4_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapital_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1_019e40bf-a1fd-7d1b-b4f3-4d54a8736f72_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party transaction expenses</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party1</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_terseLabel_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_label_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:to="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold_019e40bf-a171-77a3-9fe7-bf9738cedb27_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash liquidity covenant amount (greater of)</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity Amount, Threshold</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity Amount, Threshold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantCashLiquidityAmountThreshold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:to="lab_kref_DebtInstrumentCovenantCashLiquidityAmountThreshold" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear_019e40bf-a171-75ad-9fdb-24e44a391807_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current year, write-off</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear_label_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated,&#8203; Gross Write-off, In&#8203; Current &#8203;Fiscal&#8203; Year</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear_documentation_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing &#8203;Receivable, &#8203;Originated,&#8203; Gross Write-off, In&#8203; Current &#8203;Fiscal&#8203; Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:href="kref-20260630.xsd#kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:to="lab_kref_FinancingReceivableOriginatedGrossWriteOffInCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_019e40bf-a0b7-7d0e-9fcc-25532b3e024f_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_019e40bf-a1fd-7e54-aae0-d4171cbdc448_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to real estate owned</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_label_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Transfer to Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransferToOtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransferToOtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferToOtherRealEstate" xlink:to="lab_us-gaap_TransferToOtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RecourseDebtMember_019e40bf-a171-7d26-92a8-48cfc4485a9a_terseLabel_en-US" xlink:label="lab_kref_RecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recourse</link:label>
    <link:label id="lab_kref_RecourseDebtMember_label_en-US" xlink:label="lab_kref_RecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recourse Debt [Member]</link:label>
    <link:label id="lab_kref_RecourseDebtMember_documentation_en-US" xlink:label="lab_kref_RecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recourse Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RecourseDebtMember" xlink:href="kref-20260630.xsd#kref_RecourseDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RecourseDebtMember" xlink:to="lab_kref_RecourseDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_019e40bf-a172-7d35-b0b8-cdead078125c_terseLabel_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal outstanding</link:label>
    <link:label id="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio_label_en-US" xlink:label="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Held-in-Portfolio, Principal Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:to="lab_us-gaap_PrincipalAmountOutstandingOfLoansHeldInPortfolio" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToCompAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAxis" xlink:to="lab_ecd_AdjToCompAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_Rule10b51ArrTrmntdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrTrmntdFlag" xlink:to="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_AggtErrCompAmt_label_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompAmt" xlink:to="lab_ecd_AggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPaidNet_019e40bf-a172-7974-a032-484b3649f9c7_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid during the period for interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_019e40bf-a0b8-774c-a268-903b7f9925e6_terseLabel_en-US" xlink:label="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and Administrative Expenses</link:label>
    <link:label id="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Selling, General and Administrative Expenses, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:to="lab_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_019e40bf-a0b8-7019-8fac-467ea13ec4ba_netLabel_en-US" xlink:label="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Participating securities' share in earnings</link:label>
    <link:label id="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_019e40bf-a0b8-7dc0-8139-9a22dfd2cfd9_verboseLabel_en-US" xlink:label="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Less: Participating securities' share in earnings</link:label>
    <link:label id="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic_label_en-US" xlink:label="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undistributed Earnings (Loss) Allocated to Participating Securities, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:to="lab_us-gaap_UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityAxis_019e40bf-a171-7635-9cb8-f61874bbfd03_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis" xlink:to="lab_us-gaap_CreditFacilityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_019e40bf-a0b7-7c45-bba1-8bc7030987ed_totalLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Assets, fair value</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_019e40bf-a0b7-703b-a1ef-663add33bce4_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities assets, CMBS trusts, at fair value</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure" xlink:to="lab_us-gaap_AssetsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureName_terseLabel_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_MeasureName_label_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureName" xlink:to="lab_ecd_MeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AssetsGross_019e40bf-a0b8-70a9-be58-09ca584804df_totalLabel_en-US" xlink:label="lab_kref_AssetsGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Assets, principal balance</link:label>
    <link:label id="lab_kref_AssetsGross_label_en-US" xlink:label="lab_kref_AssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Gross</link:label>
    <link:label id="lab_kref_AssetsGross_documentation_en-US" xlink:label="lab_kref_AssetsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AssetsGross" xlink:href="kref-20260630.xsd#kref_AssetsGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AssetsGross" xlink:to="lab_kref_AssetsGross" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_IL_019e40bf-a171-720c-b554-f952888dd590_terseLabel_en-US" xlink:label="lab_stpr_IL" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Illinois</link:label>
    <link:label id="lab_stpr_IL_label_en-US" xlink:label="lab_stpr_IL" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ILLINOIS</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_IL" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_IL"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_IL" xlink:to="lab_stpr_IL" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff_019e40bf-a171-7343-ba9e-7322642b5554_negatedTerseLabel_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Write-offs charged</link:label>
    <link:label id="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff_label_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance Sheet, Credit Loss, Liability, Writeoff</link:label>
    <link:label id="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff_documentation_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance Sheet, Credit Loss, Liability, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:href="kref-20260630.xsd#kref_OffBalanceSheetCreditLossLiabilityWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:to="lab_kref_OffBalanceSheetCreditLossLiabilityWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_019e40bf-a171-7b35-991a-32b4b2f8c0a9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_019e40bf-a0b8-712d-9cd9-6ad4dcce2aec_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_019e40bf-a171-7fae-83f3-2e7d7de3ce6e_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Fee Income, Financing Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_019e40bf-a0b7-7a3c-9d63-b8caa0f11d81_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-In Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXIIIMember_019e40bf-a171-7e3a-9207-4008546ff49d_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXIIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XIII</link:label>
    <link:label id="lab_kref_KREFLendingXIIIMember_label_en-US" xlink:label="lab_kref_KREFLendingXIIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XIII [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXIIIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXIIIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XIII</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXIIIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXIIIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXIIIMember" xlink:to="lab_kref_KREFLendingXIIIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_019e40bf-a1fd-75bc-871b-8bacca16f909_terseLabel_en-US" xlink:label="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_label_en-US" xlink:label="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, After Year Four</link:label>
    <link:label id="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_documentation_en-US" xlink:label="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, After Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:href="kref-20260630.xsd#kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:to="lab_kref_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment_019e40bf-a171-763f-be52-df09eee45e1c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Originations and fundings of commercial real estate loans</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Acquisition, Loan, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireLoansHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:to="lab_us-gaap_PaymentsToAcquireLoansHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestReceivable_019e40bf-a171-7944-b34e-081ad1d26002_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivable_label_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable" xlink:to="lab_us-gaap_InterestReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_019e40bf-a172-720e-b76a-b4cfa67f0816_netLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_019e40bf-a172-7ce2-bd64-a2854a85b421_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_019e40bf-a172-7fb0-97e0-f33a9132e0c2_verboseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KKRRealEstateFinanceTrustIncMember_019e40bf-a0b8-7eca-95ba-6c5e78e75405_terseLabel_en-US" xlink:label="lab_kref_KKRRealEstateFinanceTrustIncMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF</link:label>
    <link:label id="lab_kref_KKRRealEstateFinanceTrustIncMember_label_en-US" xlink:label="lab_kref_KKRRealEstateFinanceTrustIncMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KKR Real Estate Finance Trust Inc. [Member]</link:label>
    <link:label id="lab_kref_KKRRealEstateFinanceTrustIncMember_documentation_en-US" xlink:label="lab_kref_KKRRealEstateFinanceTrustIncMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KKR Real Estate FInance Trust Inc.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KKRRealEstateFinanceTrustIncMember" xlink:href="kref-20260630.xsd#kref_KKRRealEstateFinanceTrustIncMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KKRRealEstateFinanceTrustIncMember" xlink:to="lab_kref_KKRRealEstateFinanceTrustIncMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_019e40bf-a1fd-7eb6-a015-bcf231ec2325_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DepreciationDepletionAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_019e40bf-a172-719a-9003-938c917395c7_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation, net (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure_019f4650-2eae-76e3-8819-70318955aa17_terseLabel_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in CMBS securities</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure_label_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities, Fair Value Disclosure</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure_documentation_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:href="kref-20260630.xsd#kref_InvestmentsInCMBSSecuritiesFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:to="lab_kref_InvestmentsInCMBSSecuritiesFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAbstract" xlink:to="lab_us-gaap_RealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_019e40bf-a171-7ae3-9dcf-a8ad9cfae353_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2031</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AllowanceForCreditLoss_019e40bf-a172-78fd-ab73-851a61e6aff1_terseLabel_en-US" xlink:label="lab_kref_AllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for credit loss</link:label>
    <link:label id="lab_kref_AllowanceForCreditLoss_019e40bf-a172-76a7-bc20-4ed72b90377d_periodStartLabel_en-US" xlink:label="lab_kref_AllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, total</link:label>
    <link:label id="lab_kref_AllowanceForCreditLoss_019e40bf-a172-788e-acff-61d466a92e4f_periodEndLabel_en-US" xlink:label="lab_kref_AllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance, total</link:label>
    <link:label id="lab_kref_AllowanceForCreditLoss_label_en-US" xlink:label="lab_kref_AllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance For Credit Loss</link:label>
    <link:label id="lab_kref_AllowanceForCreditLoss_documentation_en-US" xlink:label="lab_kref_AllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allowance For Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AllowanceForCreditLoss" xlink:href="kref-20260630.xsd#kref_AllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AllowanceForCreditLoss" xlink:to="lab_kref_AllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyLineItems_019e40bf-a171-7f95-8415-c02d20110d5f_terseLabel_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase Agreement Counterparty [Line Items]</link:label>
    <link:label id="lab_us-gaap_RepurchaseAgreementCounterpartyLineItems_label_en-US" xlink:label="lab_us-gaap_RepurchaseAgreementCounterpartyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreement Counterparty [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepurchaseAgreementCounterpartyLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepurchaseAgreementCounterpartyLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepurchaseAgreementCounterpartyLineItems" xlink:to="lab_us-gaap_RepurchaseAgreementCounterpartyLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_019e40bf-a1fd-7d31-957e-bcfd408a2beb_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsidiarySaleOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Sale of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiarySaleOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiarySaleOfStockLineItems" xlink:to="lab_us-gaap_SubsidiarySaleOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_REOJVMember_019e40bf-a1fd-7c69-88e5-f75238ebfe98_terseLabel_en-US" xlink:label="lab_kref_REOJVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REO JV</link:label>
    <link:label id="lab_kref_REOJVMember_label_en-US" xlink:label="lab_kref_REOJVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">REO JV [Member]</link:label>
    <link:label id="lab_kref_REOJVMember_documentation_en-US" xlink:label="lab_kref_REOJVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">REO JV</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_REOJVMember" xlink:href="kref-20260630.xsd#kref_REOJVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_REOJVMember" xlink:to="lab_kref_REOJVMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_019e40bf-a0b8-7152-bebd-f6cdcb009c33_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency translation (includes unrealized gains (losses) of $2,547 and ($2,829) in 2026 and $0 and $0 in 2025, respectively)</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss), Foreign Currency Transaction, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest_019e40bf-a1fd-7301-915e-0b94594b85b5_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_019e40bf-a0b7-77e4-a39a-dca56e1b7bcf_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_019e40bf-a1fd-74d2-98fb-6f7b019e5e9e_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: Accumulated depreciation</link:label>
    <link:label id="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_label_en-US" xlink:label="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateOwnedAccumulatedDepreciation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateOwnedAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOwnedAccumulatedDepreciation" xlink:to="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREF2022FL3Member_019e40bf-a172-73a2-a7ac-70b524813d9a_terseLabel_en-US" xlink:label="lab_kref_KREF2022FL3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF 2022-FL3</link:label>
    <link:label id="lab_kref_KREF2022FL3Member_label_en-US" xlink:label="lab_kref_KREF2022FL3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF 2022-FL3 [Member]</link:label>
    <link:label id="lab_kref_KREF2022FL3Member_documentation_en-US" xlink:label="lab_kref_KREF2022FL3Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF 2022-FL3</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREF2022FL3Member" xlink:href="kref-20260630.xsd#kref_KREF2022FL3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREF2022FL3Member" xlink:to="lab_kref_KREF2022FL3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock_019e40bf-a172-7cf7-8082-322a115c86e8_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations</link:label>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers and Servicing of Financial Assets [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialAssetsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_019e40bf-a0b7-7bd8-b577-2747a640d2e4_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLoss_019e40bf-a0b8-760c-9ea3-e79a1c020716_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to KKR Real Estate Finance Trust Inc. and Subsidiaries</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_019e40bf-a0b8-729a-a2c1-2ae1a660291f_verboseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss)</link:label>
    <link:label id="lab_us-gaap_NetIncomeLoss_label_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_019e40bf-a171-7a5e-b090-dfb7dbc1aa43_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_label_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompAnalysisTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompAnalysisTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompAnalysisTextBlock" xlink:to="lab_ecd_ErrCompAnalysisTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDateAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDateAxis" xlink:to="lab_ecd_RestatementDateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLossFromRealEstateOperations_019e40bf-a1fd-701b-bb8e-4cbccb8352ee_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLossFromRealEstateOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from real estate owned operations</link:label>
    <link:label id="lab_us-gaap_ProfitLossFromRealEstateOperations_label_en-US" xlink:label="lab_us-gaap_ProfitLossFromRealEstateOperations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (Loss) from Real Estate Operations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLossFromRealEstateOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLossFromRealEstateOperations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLossFromRealEstateOperations" xlink:to="lab_us-gaap_ProfitLossFromRealEstateOperations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpensePolicyTextBlock_019e40bf-a1fd-7d91-ae3f-69fb83f25190_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpensePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:label id="lab_us-gaap_InterestExpensePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_InterestExpensePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpensePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpensePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpensePolicyTextBlock" xlink:to="lab_us-gaap_InterestExpensePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss_019e40bf-a0b8-7300-935e-3a233eb93154_negatedTerseLabel_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss_label_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance Sheet, Credit Loss, Foreign Currency Translation Gain (Loss)</link:label>
    <link:label id="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss_documentation_en-US" xlink:label="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance Sheet, Credit Loss, Foreign Currency Translation Gain (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:href="kref-20260630.xsd#kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:to="lab_kref_OffBalanceSheetCreditLossForeignCurrencyTranslationGainLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentAxis_019e40bf-a171-7f9c-8919-e3bf7270791b_terseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument [Axis]</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentAxis_label_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument [Axis]</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentAxis_documentation_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CollateralizedLoanObligationInstrumentAxis" xlink:href="kref-20260630.xsd#kref_CollateralizedLoanObligationInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CollateralizedLoanObligationInstrumentAxis" xlink:to="lab_kref_CollateralizedLoanObligationInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnBnftsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:to="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_019e40bf-a0b8-7038-b0d3-63d8572a35d6_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares of Common Stock Outstanding</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_019e40bf-a0b8-79ec-b60c-4fc7b804a887_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Shares</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_NJ_019e40bf-a0b8-756f-aafc-60a88031131a_terseLabel_en-US" xlink:label="lab_stpr_NJ" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New Jersey</link:label>
    <link:label id="lab_stpr_NJ_label_en-US" xlink:label="lab_stpr_NJ" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NEW JERSEY</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_NJ" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_NJ"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_NJ" xlink:to="lab_stpr_NJ" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeMember_019e40bf-a0b8-78c7-a375-966aa86e4b2f_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_019e40bf-a0b7-783b-a7ea-5bdb8bc8950c_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_NC_019e40bf-a1fd-7257-8620-19bb918e8761_terseLabel_en-US" xlink:label="lab_stpr_NC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">North Carolina</link:label>
    <link:label id="lab_stpr_NC_label_en-US" xlink:label="lab_stpr_NC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NORTH CAROLINA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_NC" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_NC"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_NC" xlink:to="lab_stpr_NC" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_019e40bf-a171-7693-889b-687a8f090f93_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Stock Units</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_NotesReceivableGrossWriteOff_019e40bf-a0b8-769d-b4fc-41d2322723f0_totalLabel_en-US" xlink:label="lab_kref_NotesReceivableGrossWriteOff" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Notes receivable, gross write-off</link:label>
    <link:label id="lab_kref_NotesReceivableGrossWriteOff_label_en-US" xlink:label="lab_kref_NotesReceivableGrossWriteOff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Receivable Gross Write-off</link:label>
    <link:label id="lab_kref_NotesReceivableGrossWriteOff_documentation_en-US" xlink:label="lab_kref_NotesReceivableGrossWriteOff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes Receivable Gross Write-off</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_NotesReceivableGrossWriteOff" xlink:href="kref-20260630.xsd#kref_NotesReceivableGrossWriteOff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_NotesReceivableGrossWriteOff" xlink:to="lab_kref_NotesReceivableGrossWriteOff" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFManagerMember_019e40bf-a171-7023-8e3b-e9c4c8bff90c_terseLabel_en-US" xlink:label="lab_kref_KREFManagerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Manager</link:label>
    <link:label id="lab_kref_KREFManagerMember_label_en-US" xlink:label="lab_kref_KREFManagerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Manager [Member]</link:label>
    <link:label id="lab_kref_KREFManagerMember_documentation_en-US" xlink:label="lab_kref_KREFManagerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Manager</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFManagerMember" xlink:href="kref-20260630.xsd#kref_KREFManagerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFManagerMember" xlink:to="lab_kref_KREFManagerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_019e40bf-a171-7283-ac29-1aa23ba18e3d_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, $0.01 par value, 300,000,000 authorized (60,929,760 shares issued and 58,577,948 outstanding as of June&#160;30, 2026; 65,488,680 shares issued and 64,367,737 shares outstanding as of December&#160;31, 2025)</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpense_019e40bf-a171-7c02-b731-4e5d43adf9e4_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_label_en-US" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating and Nonoperating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense" xlink:to="lab_us-gaap_InterestExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_019e40bf-a171-712b-8800-28ce727b9867_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Restricted Stock Unit Activity</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_GoldmanSachsBankUSAMember_019e40bf-a0b8-76a8-a31d-26f90a769fc4_terseLabel_en-US" xlink:label="lab_kref_GoldmanSachsBankUSAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goldman Sachs</link:label>
    <link:label id="lab_kref_GoldmanSachsBankUSAMember_label_en-US" xlink:label="lab_kref_GoldmanSachsBankUSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goldman Sachs Bank USA [Member]</link:label>
    <link:label id="lab_kref_GoldmanSachsBankUSAMember_documentation_en-US" xlink:label="lab_kref_GoldmanSachsBankUSAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Goldman Sachs Bank USA [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_GoldmanSachsBankUSAMember" xlink:href="kref-20260630.xsd#kref_GoldmanSachsBankUSAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_GoldmanSachsBankUSAMember" xlink:to="lab_kref_GoldmanSachsBankUSAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_019e40bf-a171-7c08-a35c-feb44c97b865_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Debt Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_MO_019e40bf-a172-7bef-9251-2457f897b2df_terseLabel_en-US" xlink:label="lab_stpr_MO" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Missouri</link:label>
    <link:label id="lab_stpr_MO_label_en-US" xlink:label="lab_stpr_MO" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MISSOURI</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_MO" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_MO"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_MO" xlink:to="lab_stpr_MO" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_MN_019e40bf-a172-7cce-a985-80d1eb67c162_terseLabel_en-US" xlink:label="lab_stpr_MN" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minnesota</link:label>
    <link:label id="lab_stpr_MN_label_en-US" xlink:label="lab_stpr_MN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MINNESOTA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_MN" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_MN"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_MN" xlink:to="lab_stpr_MN" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AllowanceForCreditLossesRollForward_019e40bf-a171-7ec8-b0ef-55bffa1f9983_terseLabel_en-US" xlink:label="lab_kref_AllowanceForCreditLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_kref_AllowanceForCreditLossesRollForward_label_en-US" xlink:label="lab_kref_AllowanceForCreditLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance For Credit Losses [Roll Forward]</link:label>
    <link:label id="lab_kref_AllowanceForCreditLossesRollForward_documentation_en-US" xlink:label="lab_kref_AllowanceForCreditLossesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allowance For Credit Losses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AllowanceForCreditLossesRollForward" xlink:href="kref-20260630.xsd#kref_AllowanceForCreditLossesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AllowanceForCreditLossesRollForward" xlink:to="lab_kref_AllowanceForCreditLossesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditMember_019e40bf-a1fe-733b-a979-2234024ee96b_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured financing agreements, net</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember" xlink:to="lab_us-gaap_LineOfCreditMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CreditLossExpenseReversal_019e40bf-a172-7a7a-8242-d2a433a71a15_verboseLabel_en-US" xlink:label="lab_kref_CreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provision for credit losses, net</link:label>
    <link:label id="lab_kref_CreditLossExpenseReversal_019e40bf-a172-7b44-8c34-c39a4404de29_terseLabel_en-US" xlink:label="lab_kref_CreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for credit losses, net</link:label>
    <link:label id="lab_kref_CreditLossExpenseReversal_019e40bf-a172-773b-a300-461339dfd013_totalLabel_en-US" xlink:label="lab_kref_CreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Provision for (reversal of) credit losses, net</link:label>
    <link:label id="lab_kref_CreditLossExpenseReversal_label_en-US" xlink:label="lab_kref_CreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Loss Expense (Reversal)</link:label>
    <link:label id="lab_kref_CreditLossExpenseReversal_documentation_en-US" xlink:label="lab_kref_CreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CreditLossExpenseReversal" xlink:href="kref-20260630.xsd#kref_CreditLossExpenseReversal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CreditLossExpenseReversal" xlink:to="lab_kref_CreditLossExpenseReversal" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_OH_019e40bf-a172-75ff-8b2e-200998309f8c_terseLabel_en-US" xlink:label="lab_stpr_OH" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ohio</link:label>
    <link:label id="lab_stpr_OH_label_en-US" xlink:label="lab_stpr_OH" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OHIO</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_OH" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_OH"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_OH" xlink:to="lab_stpr_OH" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_IndustrialPropertyMember_019e40bf-a0b8-7541-8cc6-154d10cd205c_terseLabel_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial</link:label>
    <link:label id="lab_srt_IndustrialPropertyMember_label_en-US" xlink:label="lab_srt_IndustrialPropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial Property [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_IndustrialPropertyMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_IndustrialPropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_IndustrialPropertyMember" xlink:to="lab_srt_IndustrialPropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePerDollarAmount_019e40bf-a0b8-7c50-afca-564d424ce66d_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual dividend rate (usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendRatePerDollarAmount_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividend Rate, Per-Dollar-Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendRatePerDollarAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:to="lab_us-gaap_PreferredStockDividendRatePerDollarAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedAssetsAbstract_019e40bf-a171-7a26-939d-d26835c9fa17_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_kref_RealEstateOwnedAssetsAbstract_019e40bf-a171-7879-93ab-1cc5bfa6d11e_verboseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Asset</link:label>
    <link:label id="lab_kref_RealEstateOwnedAssetsAbstract_label_en-US" xlink:label="lab_kref_RealEstateOwnedAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assets [Abstract]</link:label>
    <link:label id="lab_kref_RealEstateOwnedAssetsAbstract_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedAssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedAssetsAbstract" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedAssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedAssetsAbstract" xlink:to="lab_kref_RealEstateOwnedAssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ManagementAgreementMember_019e40bf-a1fe-7eaf-84cb-c65c68235582_terseLabel_en-US" xlink:label="lab_kref_ManagementAgreementMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Agreement</link:label>
    <link:label id="lab_kref_ManagementAgreementMember_label_en-US" xlink:label="lab_kref_ManagementAgreementMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Agreement [Member]</link:label>
    <link:label id="lab_kref_ManagementAgreementMember_documentation_en-US" xlink:label="lab_kref_ManagementAgreementMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Agreement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ManagementAgreementMember" xlink:href="kref-20260630.xsd#kref_ManagementAgreementMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ManagementAgreementMember" xlink:to="lab_kref_ManagementAgreementMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_019e40bf-a1fe-7dd2-b7ac-c2a366532059_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_019e40bf-a171-7f95-ae41-acdda7ab1237_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Notional Amounts of Outstanding Derivative Positions</link:label>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_019e40bf-a0b7-71f8-8a10-b5e057a71d76_verboseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Originations and future fundings, net</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, New Mortgage Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MortgageLoansOnRealEstateNewMortgageLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateNewMortgageLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_019e40bf-a171-7463-ba8e-5092fff7d697_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, redemption price (usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockRedemptionPricePerShare_label_en-US" xlink:label="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Redemption Price Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockRedemptionPricePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockRedemptionPricePerShare" xlink:to="lab_us-gaap_PreferredStockRedemptionPricePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_NY_019e40bf-a171-7603-9fcb-9b95c57e7635_terseLabel_en-US" xlink:label="lab_stpr_NY" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New York</link:label>
    <link:label id="lab_stpr_NY_label_en-US" xlink:label="lab_stpr_NY" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NEW YORK</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_NY" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_NY"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_NY" xlink:to="lab_stpr_NY" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_NV_019e40bf-a0b7-7053-b931-4d3948e20898_terseLabel_en-US" xlink:label="lab_stpr_NV" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nevada</link:label>
    <link:label id="lab_stpr_NV_label_en-US" xlink:label="lab_stpr_NV" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NEVADA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_NV" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_NV"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_NV" xlink:to="lab_stpr_NV" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CoOperativePropertyMember_019e40bf-a171-7a6e-b97d-c0bdc9ff3315_terseLabel_en-US" xlink:label="lab_kref_CoOperativePropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Co-op</link:label>
    <link:label id="lab_kref_CoOperativePropertyMember_label_en-US" xlink:label="lab_kref_CoOperativePropertyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Co-operative Property [Member]</link:label>
    <link:label id="lab_kref_CoOperativePropertyMember_documentation_en-US" xlink:label="lab_kref_CoOperativePropertyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Co-operative Property</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CoOperativePropertyMember" xlink:href="kref-20260630.xsd#kref_CoOperativePropertyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CoOperativePropertyMember" xlink:to="lab_kref_CoOperativePropertyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_TermLoanFacilityIMember_019e40bf-a1fe-732c-9806-8fc43f21cc6f_terseLabel_en-US" xlink:label="lab_kref_TermLoanFacilityIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Term Loan Facility</link:label>
    <link:label id="lab_kref_TermLoanFacilityIMember_label_en-US" xlink:label="lab_kref_TermLoanFacilityIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan Facility I [Member]</link:label>
    <link:label id="lab_kref_TermLoanFacilityIMember_documentation_en-US" xlink:label="lab_kref_TermLoanFacilityIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term Loan Facility I [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_TermLoanFacilityIMember" xlink:href="kref-20260630.xsd#kref_TermLoanFacilityIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_TermLoanFacilityIMember" xlink:to="lab_kref_TermLoanFacilityIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXIXGBPMember_019e40bf-a1fd-763f-8396-7f55e9e139bd_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXIXGBPMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XIX - GBP</link:label>
    <link:label id="lab_kref_KREFLendingXIXGBPMember_label_en-US" xlink:label="lab_kref_KREFLendingXIXGBPMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XIX - GBP [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXIXGBPMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXIXGBPMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XIX - GBP</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXIXGBPMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXIXGBPMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXIXGBPMember" xlink:to="lab_kref_KREFLendingXIXGBPMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan_019e40bf-a0b7-776a-8944-da0008be39e6_negatedTerseLabel_en-US" xlink:label="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Principal repayments on borrowings under secured term loan</link:label>
    <link:label id="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan_label_en-US" xlink:label="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Repayments On Borrowings Under Secured Term Loan</link:label>
    <link:label id="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan_documentation_en-US" xlink:label="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal Repayments On Borrowings Under Secured Term Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:href="kref-20260630.xsd#kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:to="lab_kref_PrincipalRepaymentsOnBorrowingsUnderSecuredTermLoan" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_019e40bf-a0b8-7cbd-b674-2d78c0b2a882_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ShareRepurchaseProgramDomain_019e40bf-a172-76fd-a823-c9ff788eb963_terseLabel_en-US" xlink:label="lab_srt_ShareRepurchaseProgramDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share Repurchase Program [Domain]</link:label>
    <link:label id="lab_srt_ShareRepurchaseProgramDomain_label_en-US" xlink:label="lab_srt_ShareRepurchaseProgramDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ShareRepurchaseProgramDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ShareRepurchaseProgramDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ShareRepurchaseProgramDomain" xlink:to="lab_srt_ShareRepurchaseProgramDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_019e40bf-a171-7db4-b8d7-b9f3911bef1f_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notional Amount</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_019e40bf-a171-70da-88ee-00991d32991a_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_019e40bf-a1fd-72ed-8bcc-472df1f326b9_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Expenses and Amounts Due to Related Parties</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebt_019e40bf-a0b8-70c4-aada-367f27b39d49_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured term loan, net</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_label_en-US" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SecuredDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt" xlink:to="lab_us-gaap_SecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear_019e40bf-a0b8-7700-bf45-f2d4fb8a68f6_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year two, write-off</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear_label_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing&#8203; Receivable, &#8203;Originated,&#8203; Gross Write-off, Two &#8203;Years&#8203; Before&#8203; Latest&#8203; Fiscal &#8203;Year</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear_documentation_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing&#8203; Receivable, &#8203;Originated,&#8203; Gross Write-off, Two &#8203;Years&#8203; Before&#8203; Latest&#8203; Fiscal &#8203;Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:href="kref-20260630.xsd#kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:to="lab_kref_FinancingReceivableOriginatedGrossWriteOffTwoYearsBeforeLatestFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXIIMember_019e40bf-a1fd-7796-884b-f6da6e689457_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XII</link:label>
    <link:label id="lab_kref_KREFLendingXIIMember_label_en-US" xlink:label="lab_kref_KREFLendingXIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XII [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXIIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXIIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XII</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXIIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXIIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXIIMember" xlink:to="lab_kref_KREFLendingXIIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts_019e40bf-a1fd-7204-b94e-96bb26448e75_negatedTerseLabel_en-US" xlink:label="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accretion of deferred loan fees and discounts</link:label>
    <link:label id="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts_label_en-US" xlink:label="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accretion Of Deferred Loan Costs And Discounts</link:label>
    <link:label id="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts_documentation_en-US" xlink:label="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accretion Of Deferred Loan Costs And Discounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:href="kref-20260630.xsd#kref_AccretionOfDeferredLoanCostsAndDiscounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:to="lab_kref_AccretionOfDeferredLoanCostsAndDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateInterestRate_019e40bf-a171-7cae-8b84-9e1c6ee29cee_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average, coupon</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateInterestRate_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateInterestRate" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateInterestRate" xlink:to="lab_srt_MortgageLoansOnRealEstateInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate_019e40bf-a171-72ba-8b28-b730a50b3bb7_verboseLabel_en-US" xlink:label="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2027 (in shares)</link:label>
    <link:label id="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate_label_en-US" xlink:label="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Awards Expected to Vest Two Years from Balance Sheet Date</link:label>
    <link:label id="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate_documentation_en-US" xlink:label="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Awards Expected to Vest Two Years from Balance Sheet Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:href="kref-20260630.xsd#kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:to="lab_kref_SharebasedCompensationArrangementbySharebasedPaymentAwardRestrictedStockAwardsExpectedtoVestTwoYearsfromBalanceSheetDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ManufacturedHousingMember_019e40bf-a0b8-7046-8896-889e96648047_terseLabel_en-US" xlink:label="lab_kref_ManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manufactured Housing</link:label>
    <link:label id="lab_kref_ManufacturedHousingMember_label_en-US" xlink:label="lab_kref_ManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Manufactured Housing [Member]</link:label>
    <link:label id="lab_kref_ManufacturedHousingMember_documentation_en-US" xlink:label="lab_kref_ManufacturedHousingMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Manufactured Housing</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ManufacturedHousingMember" xlink:href="kref-20260630.xsd#kref_ManufacturedHousingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ManufacturedHousingMember" xlink:to="lab_kref_ManufacturedHousingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_MD_019e40bf-a171-7d78-b2c5-f3c57771e589_terseLabel_en-US" xlink:label="lab_stpr_MD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maryland</link:label>
    <link:label id="lab_stpr_MD_label_en-US" xlink:label="lab_stpr_MD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MARYLAND</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_MD" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_MD"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_MD" xlink:to="lab_stpr_MD" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation_019e40bf-a171-77cf-a02c-39a3621a4c65_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss, Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_MA_019e40bf-a171-71ec-ba39-ef755347da5c_terseLabel_en-US" xlink:label="lab_stpr_MA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Massachusetts</link:label>
    <link:label id="lab_stpr_MA_label_en-US" xlink:label="lab_stpr_MA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MASSACHUSETTS</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_MA" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_MA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_MA" xlink:to="lab_stpr_MA" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXXEURMember_019f40d2-67bb-72dc-b0cd-eb0b12f781f5_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXXEURMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XX - EUR</link:label>
    <link:label id="lab_kref_KREFLendingXXEURMember_label_en-US" xlink:label="lab_kref_KREFLendingXXEURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XX - EUR [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXXEURMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXXEURMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XX - EUR</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXXEURMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXXEURMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXXEURMember" xlink:to="lab_kref_KREFLendingXXEURMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_019e40bf-a1fd-7517-863d-f87b79cb06a6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable, net</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accrued Interest Receivable, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:to="lab_us-gaap_IncreaseDecreaseInAccruedInterestReceivableNet" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss_019e40bf-a0b8-7cab-acca-e3078da72bf2_terseLabel_en-US" xlink:label="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for credit losses on unfunded commitments</link:label>
    <link:label id="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss_label_en-US" xlink:label="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded Commitments, Allowance for Credit Loss</link:label>
    <link:label id="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss_documentation_en-US" xlink:label="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unfunded Commitments, Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:href="kref-20260630.xsd#kref_UnfundedCommitmentsAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:to="lab_kref_UnfundedCommitmentsAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationLineItems_019e40bf-a1fd-72b2-8827-bb852b038d3b_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:label id="lab_dei_DocumentInformationLineItems_label_en-US" xlink:label="lab_dei_DocumentInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationLineItems" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationLineItems" xlink:to="lab_dei_DocumentInformationLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:to="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_019e40bf-a171-7b35-9090-fc19f7860b7d_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_019e40bf-a171-725b-8cd8-1e68f9ff0a68_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_019e40bf-a171-7178-8e64-f1836d81032e_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_019e40bf-a172-72bf-8a72-0943d883b639_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Preferred Stock and Preference Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:to="lab_us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_019e40bf-a171-7912-b992-29171def68b2_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposure_019e40bf-a1fd-7c50-8812-a3fe11f8ba31_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Principal</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposure_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Total Exposure</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateTotalExposure_documentation_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateTotalExposure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Total Exposure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MortgageLoansOnRealEstateTotalExposure" xlink:href="kref-20260630.xsd#kref_MortgageLoansOnRealEstateTotalExposure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MortgageLoansOnRealEstateTotalExposure" xlink:to="lab_kref_MortgageLoansOnRealEstateTotalExposure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_019e40bf-a0b8-76d7-af45-95fb2ed013bb_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Common Stockholders</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialRealEstateLoansLineItems_019e40bf-a1fd-7bbc-acd4-c64c9ada2c00_terseLabel_en-US" xlink:label="lab_kref_CommercialRealEstateLoansLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans [Line Items]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLoansLineItems_label_en-US" xlink:label="lab_kref_CommercialRealEstateLoansLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans [Line Items]</link:label>
    <link:label id="lab_kref_CommercialRealEstateLoansLineItems_documentation_en-US" xlink:label="lab_kref_CommercialRealEstateLoansLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialRealEstateLoansLineItems" xlink:href="kref-20260630.xsd#kref_CommercialRealEstateLoansLineItems"/>
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    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_019e40bf-a0b8-79f6-9e4c-f865fee01a12_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum Facility Size</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinimumNetWorthRequiredForCompliance_019e40bf-a171-7449-b26f-73ee7ca8fdf0_terseLabel_en-US" xlink:label="lab_us-gaap_MinimumNetWorthRequiredForCompliance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum net worth required for compliance</link:label>
    <link:label id="lab_us-gaap_MinimumNetWorthRequiredForCompliance_label_en-US" xlink:label="lab_us-gaap_MinimumNetWorthRequiredForCompliance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Banking Regulation, Mortgage Banking, Net Worth, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinimumNetWorthRequiredForCompliance" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MinimumNetWorthRequiredForCompliance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinimumNetWorthRequiredForCompliance" xlink:to="lab_us-gaap_MinimumNetWorthRequiredForCompliance" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommitmenttoInvestinAggregatorVehicleMember_019e40bf-a172-789e-9aa3-08fb31b688ae_terseLabel_en-US" xlink:label="lab_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitment to invest in aggregator vehicle</link:label>
    <link:label id="lab_kref_CommitmenttoInvestinAggregatorVehicleMember_label_en-US" xlink:label="lab_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitment to Invest in Aggregator Vehicle [Member]</link:label>
    <link:label id="lab_kref_CommitmenttoInvestinAggregatorVehicleMember_documentation_en-US" xlink:label="lab_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commitment to Invest in Aggregator Vehicle [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:href="kref-20260630.xsd#kref_CommitmenttoInvestinAggregatorVehicleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:to="lab_kref_CommitmenttoInvestinAggregatorVehicleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPreferredStock_019e40bf-a172-7e7b-9a36-33e8ad749893_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Series A preferred dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStock_019e40bf-a172-736d-aeb8-38f27f52b1c3_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsPreferredStock_label_en-US" xlink:label="lab_us-gaap_DividendsPreferredStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Preferred Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPreferredStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsPreferredStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPreferredStock" xlink:to="lab_us-gaap_DividendsPreferredStock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_Buildings_019e40bf-a171-7bf3-a49d-2733d60362b5_terseLabel_en-US" xlink:label="lab_kref_Buildings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned - buildings</link:label>
    <link:label id="lab_kref_Buildings_label_en-US" xlink:label="lab_kref_Buildings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Buildings</link:label>
    <link:label id="lab_kref_Buildings_documentation_en-US" xlink:label="lab_kref_Buildings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Buildings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_Buildings" xlink:href="kref-20260630.xsd#kref_Buildings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_Buildings" xlink:to="lab_kref_Buildings" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable_019e40bf-a1fd-76a7-ba77-722bece5397a_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary or Equity Method Investee, Sale of Stock by Subsidiary or Equity Investee [Table]</link:label>
    <link:label id="lab_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable_label_en-US" xlink:label="lab_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary or Equity Method Investee, Sale of Stock, Type [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable" xlink:to="lab_us-gaap_SubsidiaryOrEquityMethodInvesteeSaleOfStockBySubsidiaryOrEquityInvesteeTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-7244-9a5a-55e6e40d7a11_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment, net</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-70a0-b49a-2f2d96f4ba24_netLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Carrying Value</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-70af-b59d-b7345b3c53fd_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-7a79-852b-2bb0ac46be33_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-7eb4-b8be-e12cdaa02a98_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, at fair value</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_019e40bf-a172-77e9-b840-8ae69ca44cdf_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Write-offs charged</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_019e40bf-a172-70ad-ac97-d7f2d6d6c906_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Write-offs charged</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesWriteOffs" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_019e40bf-a1fd-7fc0-a2d5-088db75825fc_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_019e40bf-a1fd-7e18-aad0-e14c6b244550_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward_019e40bf-a1fd-7766-bb41-9540d61a2e44_verboseLabel_en-US" xlink:label="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net</link:label>
    <link:label id="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward_label_en-US" xlink:label="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:label id="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward_documentation_en-US" xlink:label="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Assets (Liabilities), Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:href="kref-20260630.xsd#kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_kref_FairValueAssetsLiabilitiesNetMeasuredonRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_019e40bf-a1fe-7aef-91a9-b6a58cd04873_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests in Equity of Consolidated Joint Ventures</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_019e40bf-a172-7b64-b18a-9ff49017323b_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred debt issuance costs</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_WellsFargoBankNationalAssociationMember_019e40bf-a0b8-7fc5-a67c-85865c393ae6_verboseLabel_en-US" xlink:label="lab_kref_WellsFargoBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Wells Fargo</link:label>
    <link:label id="lab_kref_WellsFargoBankNationalAssociationMember_label_en-US" xlink:label="lab_kref_WellsFargoBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Wells Fargo Bank, National Association [Member]</link:label>
    <link:label id="lab_kref_WellsFargoBankNationalAssociationMember_documentation_en-US" xlink:label="lab_kref_WellsFargoBankNationalAssociationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Wells Fargo Bank, National Association [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_WellsFargoBankNationalAssociationMember" xlink:href="kref-20260630.xsd#kref_WellsFargoBankNationalAssociationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_WellsFargoBankNationalAssociationMember" xlink:to="lab_kref_WellsFargoBankNationalAssociationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity_019e40bf-a1fe-7685-b86f-0cd604f0ebe2_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Period of weighted average adjusted equity (Months)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Period Of Adjusted Equity</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Period Of Adjusted Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationPeriodOfAdjustedEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-748e-9a25-8f106a036f17_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-7f6c-81ef-5304081e30d8_periodStartLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-711a-86c0-b97439aab0e4_periodEndLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-7990-aeea-edfa89d37b0c_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value, financing provided</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-79be-b23d-07fb38856553_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Carrying value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_019e40bf-a1fd-7b2c-818b-b06f149f55ca_netLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Amortized cost and carrying value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust_019e40bf-a172-7ff4-8f5a-b2f655695781_negatedTerseLabel_en-US" xlink:label="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment to acquire interest in consolidated CMBS trust</link:label>
    <link:label id="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust_label_en-US" xlink:label="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments To Acquire Interest In Collateralized Mortgage Backed Securities Trust</link:label>
    <link:label id="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust_documentation_en-US" xlink:label="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments To Acquire Interest In Collateralized Mortgage Backed Securities Trust</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:href="kref-20260630.xsd#kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:to="lab_kref_PaymentsToAcquireInterestInCollateralizedMortgageBackedSecuritiesTrust" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OtherLiabilitiesAssumptionOfRealEstate_019e40bf-a0b8-75e6-b9bc-df4107d4c7c0_terseLabel_en-US" xlink:label="lab_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption of other liabilities related to real estate owned</link:label>
    <link:label id="lab_kref_OtherLiabilitiesAssumptionOfRealEstate_label_en-US" xlink:label="lab_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities, Assumption Of Real Estate</link:label>
    <link:label id="lab_kref_OtherLiabilitiesAssumptionOfRealEstate_documentation_en-US" xlink:label="lab_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Liabilities, Assumption Of Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:href="kref-20260630.xsd#kref_OtherLiabilitiesAssumptionOfRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:to="lab_kref_OtherLiabilitiesAssumptionOfRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_019e40bf-a171-7e7f-9761-f53101af49d2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year two</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_019e40bf-a0b7-7b64-bd6b-ee29125dbfb1_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in operating assets and liabilities:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_019e40bf-a171-7168-86a9-c51cf534ddd9_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Excluding Value Reported in the Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:to="lab_ecd_EqtyAwrdsAdjsExclgValRprtdInSummryCompstnTblMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_019e40bf-a0b7-7ef7-93c0-586f69a23c63_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_019e40bf-a171-7c10-b4dc-de572c79e6cf_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_019e40bf-a171-72a6-95e7-f73cae5bae6d_terseLabel_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:label id="lab_us-gaap_ValuationTechniqueAxis_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ValuationTechniqueAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ValuationTechniqueAxis" xlink:to="lab_us-gaap_ValuationTechniqueAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_019e40bf-a0b8-7262-bbab-4efc259e60f5_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Liabilities, fair value</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_019e40bf-a0b8-7a0a-b9f6-d3bd32c0b4a5_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities liabilities, CMBS trusts, at fair value</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateHeldforsale_019e40bf-a0b8-727d-8a8d-918bc3346f7c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateHeldforsale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned assets, held-for-sale</link:label>
    <link:label id="lab_us-gaap_RealEstateHeldforsale_label_en-US" xlink:label="lab_us-gaap_RealEstateHeldforsale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Held-for-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateHeldforsale" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateHeldforsale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateHeldforsale" xlink:to="lab_us-gaap_RealEstateHeldforsale" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CreditLossForeignCurrencyTranslationGainLoss_019e40bf-a0b7-7a98-9bae-59652cc92137_negatedTotalLabel_en-US" xlink:label="lab_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_kref_CreditLossForeignCurrencyTranslationGainLoss_label_en-US" xlink:label="lab_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Loss, Foreign Currency Translation Gain (Loss)</link:label>
    <link:label id="lab_kref_CreditLossForeignCurrencyTranslationGainLoss_documentation_en-US" xlink:label="lab_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Credit Loss, Foreign Currency Translation Gain (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:href="kref-20260630.xsd#kref_CreditLossForeignCurrencyTranslationGainLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:to="lab_kref_CreditLossForeignCurrencyTranslationGainLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_PA_019e40bf-a172-73e5-a3e9-b96481ab92dd_terseLabel_en-US" xlink:label="lab_stpr_PA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pennsylvania</link:label>
    <link:label id="lab_stpr_PA_label_en-US" xlink:label="lab_stpr_PA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PENNSYLVANIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_PA" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_PA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_PA" xlink:to="lab_stpr_PA" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_019e40bf-a171-7582-819d-17c96a2b5209_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net Interest Income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), Operating [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestIncomeExpenseNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:to="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DeferredStockUnitsMember_019e40bf-a1fd-7561-828e-87398f6e8031_terseLabel_en-US" xlink:label="lab_kref_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Stock Units (DSUs)</link:label>
    <link:label id="lab_kref_DeferredStockUnitsMember_label_en-US" xlink:label="lab_kref_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Stock Units [Member]</link:label>
    <link:label id="lab_kref_DeferredStockUnitsMember_documentation_en-US" xlink:label="lab_kref_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DeferredStockUnitsMember" xlink:href="kref-20260630.xsd#kref_DeferredStockUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DeferredStockUnitsMember" xlink:to="lab_kref_DeferredStockUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ManagementIncentivePlanMember_019e40bf-a1fd-7a48-a1b6-0b37ddd7cff2_terseLabel_en-US" xlink:label="lab_kref_ManagementIncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Incentive Plan</link:label>
    <link:label id="lab_kref_ManagementIncentivePlanMember_label_en-US" xlink:label="lab_kref_ManagementIncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Incentive Plan [Member]</link:label>
    <link:label id="lab_kref_ManagementIncentivePlanMember_documentation_en-US" xlink:label="lab_kref_ManagementIncentivePlanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Incentive Plan [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ManagementIncentivePlanMember" xlink:href="kref-20260630.xsd#kref_ManagementIncentivePlanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ManagementIncentivePlanMember" xlink:to="lab_kref_ManagementIncentivePlanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements_019e40bf-a172-7a49-8b0a-f2cde02c839b_negatedTotalLabel_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Repayments</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements_label_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Settlements</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Settlements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:to="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilitySettlements" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_019e40bf-a0b8-7065-8bbf-a2a1ff9c9dcc_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_OR_019e40bf-a171-7cf6-b713-55964adf2dd7_terseLabel_en-US" xlink:label="lab_stpr_OR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Oregon</link:label>
    <link:label id="lab_stpr_OR_label_en-US" xlink:label="lab_stpr_OR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">OREGON</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_OR" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_OR"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_OR" xlink:to="lab_stpr_OR" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_019e40bf-a171-7b27-9f00-bbd21a4b6dcf_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized stock based compensation expense</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_019e40bf-a0b8-7eb8-869d-96fd8541a638_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred debt issuance costs and discounts</link:label>
    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Issuance Costs and Discounts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CollateralizedLoanObligationsNet_019e40bf-a171-7803-8e1a-31e630c17dcf_terseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations, net</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationsNet_019e40bf-a171-7b31-b102-23c1d9f18720_verboseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationsNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Commercial mortgage-backed securities, at fair value</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationsNet_label_en-US" xlink:label="lab_kref_CollateralizedLoanObligationsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Net</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationsNet_documentation_en-US" xlink:label="lab_kref_CollateralizedLoanObligationsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CollateralizedLoanObligationsNet" xlink:href="kref-20260630.xsd#kref_CollateralizedLoanObligationsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CollateralizedLoanObligationsNet" xlink:to="lab_kref_CollateralizedLoanObligationsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_019e40bf-a171-77d0-b053-6c6a84be4df2_terseLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on derivative instruments</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_019f705e-3b9a-7f44-bee5-34d92e106590_negatedLabel_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss (gain) on foreign currency forward contract</link:label>
    <link:label id="lab_us-gaap_UnrealizedGainLossOnDerivatives_label_en-US" xlink:label="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Gain (Loss) on Derivatives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnrealizedGainLossOnDerivatives" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_UnrealizedGainLossOnDerivatives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="lab_us-gaap_UnrealizedGainLossOnDerivatives" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward_019e40bf-a172-7f6f-b743-e85ee1a7671c_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Increase (Decrease), Net [Roll Forward]</link:label>
    <link:label id="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward_label_en-US" xlink:label="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Increase (Decrease), Net [Roll Forward]</link:label>
    <link:label id="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward_documentation_en-US" xlink:label="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Increase (Decrease), Net [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:href="kref-20260630.xsd#kref_DebtInstrumentIncreaseDecreaseNetRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:to="lab_kref_DebtInstrumentIncreaseDecreaseNetRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e40bf-a0b7-7e60-830c-2b66b8da4705_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Principal</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e40bf-a0b7-772b-92b1-fe7a71af31f4_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e40bf-a0b7-7fde-b07a-d1a19b5c3b58_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_019e40bf-a0b7-7bba-8e03-4b64675d7bb8_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Principal</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment_019e40bf-a1fd-731a-ad96-9468c6c41a12_terseLabel_en-US" xlink:label="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets related to real estate owned, held-for-investment</link:label>
    <link:label id="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment_label_en-US" xlink:label="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Related to Real Estate Owned, Held for Investment</link:label>
    <link:label id="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment_documentation_en-US" xlink:label="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets Related to Real Estate Owned, Held for Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:href="kref-20260630.xsd#kref_AssetsRelatedToRealEstateOwnedHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:to="lab_kref_AssetsRelatedToRealEstateOwnedHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_019e40bf-a0b8-7a76-a4d2-2250a30ef60f_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateScheduleTable_019e40bf-a171-75b9-a6d6-3b74cb44a4b2_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate Schedule [Table]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateScheduleTable_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate Schedule [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateScheduleTable" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateScheduleTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateScheduleTable" xlink:to="lab_srt_MortgageLoansOnRealEstateScheduleTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_019e40bf-a0b8-7e56-9653-009814115154_terseLabel_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Financing Agreements, Net</link:label>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtPolicyTextBlock" xlink:to="lab_us-gaap_DebtPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e40bf-a171-7940-9331-6ed32ec73d17_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_019e40bf-a171-723e-90bd-d4ac7a3cbd04_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Diluted weighted average common shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring_019e40bf-a1fd-7b16-b6cd-70ffe5c34183_terseLabel_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan balance, after restructuring</link:label>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring_label_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages, After Restructuring</link:label>
    <link:label id="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring_documentation_en-US" xlink:label="lab_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages, After Restructuring</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring" xlink:href="kref-20260630.xsd#kref_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateFaceAmountOfMortgagesAfterRestructuring"/>
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    <link:label id="lab_dei_EntityEmergingGrowthCompany_019e40bf-a171-7c2f-8d3a-16c88fe1253e_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_019e40bf-a171-7c65-a867-7e7ad3255199_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_019e40bf-a0b8-7278-ad01-591a5c81165c_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesPolicyTextBlock" xlink:to="lab_us-gaap_DerivativesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e40bf-a171-7470-a29a-bed4366d9f74_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e40bf-a171-700f-a1f3-409350207d76_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortized Cost</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_019e40bf-a171-7738-bfb8-9e579f8d08e7_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_terseLabel_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change</link:label>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_label_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_UndrlygSecurityMktPriceChngPct"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:to="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_019e40bf-a1fd-733d-b7e4-96f1fe1cab6a_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedMember_019e40bf-a1fd-73f4-aa97-eaf3bfbf962c_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned</link:label>
    <link:label id="lab_kref_RealEstateOwnedMember_label_en-US" xlink:label="lab_kref_RealEstateOwnedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned [Member]</link:label>
    <link:label id="lab_kref_RealEstateOwnedMember_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedMember" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedMember" xlink:to="lab_kref_RealEstateOwnedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ContributionsToEquityMethodInvestment_019e40bf-a171-7c1d-b430-bbab247bba63_negatedTerseLabel_en-US" xlink:label="lab_kref_ContributionsToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Contributions to equity method investment, real estate asset</link:label>
    <link:label id="lab_kref_ContributionsToEquityMethodInvestment_label_en-US" xlink:label="lab_kref_ContributionsToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions To Equity Method Investment</link:label>
    <link:label id="lab_kref_ContributionsToEquityMethodInvestment_documentation_en-US" xlink:label="lab_kref_ContributionsToEquityMethodInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contributions To Equity Method Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ContributionsToEquityMethodInvestment" xlink:href="kref-20260630.xsd#kref_ContributionsToEquityMethodInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ContributionsToEquityMethodInvestment" xlink:to="lab_kref_ContributionsToEquityMethodInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DividendsParticipatingSecurities_019e40bf-a0b8-7488-80d1-3ff3f7a1c176_negatedTerseLabel_en-US" xlink:label="lab_kref_DividendsParticipatingSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Participating security dividends declared</link:label>
    <link:label id="lab_kref_DividendsParticipatingSecurities_label_en-US" xlink:label="lab_kref_DividendsParticipatingSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Participating Securities</link:label>
    <link:label id="lab_kref_DividendsParticipatingSecurities_documentation_en-US" xlink:label="lab_kref_DividendsParticipatingSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends, Participating Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DividendsParticipatingSecurities" xlink:href="kref-20260630.xsd#kref_DividendsParticipatingSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DividendsParticipatingSecurities" xlink:to="lab_kref_DividendsParticipatingSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_019e40bf-a172-782e-98b5-1447c351e683_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for (reversal of) credit losses, net</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_VA_019e40bf-a171-7968-8205-6ca671abf714_terseLabel_en-US" xlink:label="lab_stpr_VA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Virginia</link:label>
    <link:label id="lab_stpr_VA_label_en-US" xlink:label="lab_stpr_VA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VIRGINIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_VA" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_VA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_VA" xlink:to="lab_stpr_VA" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2_019e40bf-a171-744d-b104-393d56f16fe2_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Modification accounted for as a repayment and new loan, net of write-off</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified in Period, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2" xlink:to="lab_us-gaap_FinancingReceivableModificationsPostModificationRecordedInvestment2" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockCommonMember_019e40bf-a171-7eca-85ff-2d5bb9cb2796_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchased Stock</link:label>
    <link:label id="lab_us-gaap_TreasuryStockCommonMember_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Common [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TreasuryStockCommonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonMember" xlink:to="lab_us-gaap_TreasuryStockCommonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FurnitureAndFixturesGross_019e40bf-a171-7a4c-997e-8dda18655398_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned - furniture and fixtures</link:label>
    <link:label id="lab_us-gaap_FurnitureAndFixturesGross_label_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Furniture and Fixtures, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FurnitureAndFixturesGross" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FurnitureAndFixturesGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesGross" xlink:to="lab_us-gaap_FurnitureAndFixturesGross" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife_019e40bf-a171-7d78-ac3a-b033eb6922e4_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average life (years)</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Weighted Average Life</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife_documentation_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loans On Real Estate, Weighted Average Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:href="kref-20260630.xsd#kref_MortgageLoansOnRealEstateWeightedAverageLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:to="lab_kref_MortgageLoansOnRealEstateWeightedAverageLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_019e40bf-a0b8-798a-8b3d-c1f0c2fed574_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock_019e40bf-a0b8-7ef8-87cb-bc3a16020b72_terseLabel_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Income (Loss) From Real Estate Owned</link:label>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock_label_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) From Real Estate Owned [Table Text Block]</link:label>
    <link:label id="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock_documentation_en-US" xlink:label="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income (Loss) From Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:href="kref-20260630.xsd#kref_IncomeLossFromRealEstateOwnedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:to="lab_kref_IncomeLossFromRealEstateOwnedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAndServicingAbstract_019e40bf-a1fd-7446-916e-19f8f07db652_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers and Servicing [Abstract]</link:label>
    <link:label id="lab_us-gaap_TransfersAndServicingAbstract_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers and Servicing [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAndServicingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingAbstract" xlink:to="lab_us-gaap_TransfersAndServicingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_WI_019e40bf-a0b8-7d9b-8151-af4e6a227634_terseLabel_en-US" xlink:label="lab_stpr_WI" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wisconsin</link:label>
    <link:label id="lab_stpr_WI_label_en-US" xlink:label="lab_stpr_WI" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">WISCONSIN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_WI" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_WI"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_WI" xlink:to="lab_stpr_WI" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_019e40bf-a171-71e0-9fdd-a6e5504eb09d_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Unvested, beginning balance, weighted average grant date fair value (usd per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_019e40bf-a171-7307-a2c8-7041082521a7_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Unvested. ending balance, weighted average grant date fair value (usd per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MortgageLoansOnRealEstateUnamortizedDiscountsDeferredFeesAndCostRecoveryInterest_019e40bf-a0b8-7258-a246-2134580d86a3_terseLabel_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateUnamortizedDiscountsDeferredFeesAndCostRecoveryInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized origination discounts and deferred nonrefundable fees</link:label>
    <link:label id="lab_kref_MortgageLoansOnRealEstateUnamortizedDiscountsDeferredFeesAndCostRecoveryInterest_label_en-US" xlink:label="lab_kref_MortgageLoansOnRealEstateUnamortizedDiscountsDeferredFeesAndCostRecoveryInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loans on Real Estate, Unamortized Discounts, Deferred Fees, And Cost Recovery Interest</link:label>
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    <link:label id="lab_ecd_AllExecutiveCategoriesMember_label_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Executive Categories [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllExecutiveCategoriesMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllExecutiveCategoriesMember"/>
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    <link:label id="lab_us-gaap_ValuationTechniqueDomain_label_en-US" xlink:label="lab_us-gaap_ValuationTechniqueDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Approach and Technique [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ValuationTechniqueDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ValuationTechniqueDomain"/>
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    <link:label id="lab_stpr_WA_019e40bf-a1fd-799c-982e-82cb73e87591_terseLabel_en-US" xlink:label="lab_stpr_WA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Washington</link:label>
    <link:label id="lab_stpr_WA_label_en-US" xlink:label="lab_stpr_WA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">WASHINGTON</link:label>
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    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsSvcCstMember" xlink:to="lab_ecd_PnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_StructuringFeesMember_019e40bf-a172-78ce-9eda-afed4389e67c_terseLabel_en-US" xlink:label="lab_kref_StructuringFeesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Structuring fees</link:label>
    <link:label id="lab_kref_StructuringFeesMember_label_en-US" xlink:label="lab_kref_StructuringFeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Structuring Fees [Member]</link:label>
    <link:label id="lab_kref_StructuringFeesMember_documentation_en-US" xlink:label="lab_kref_StructuringFeesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Structuring Fees [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_StructuringFeesMember" xlink:href="kref-20260630.xsd#kref_StructuringFeesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_StructuringFeesMember" xlink:to="lab_kref_StructuringFeesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract_019e40bf-a0b8-7c17-bcb5-3094eb2e4eb0_terseLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of cash, cash equivalents and restricted cash</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsAbstract"/>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements_019e40bf-a0b8-70cb-b2bc-456048e73e99_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements"/>
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    <link:label id="lab_kref_MorganStanleyGBPEURMember_019e40bf-a171-74da-bde7-ad1d54e67520_terseLabel_en-US" xlink:label="lab_kref_MorganStanleyGBPEURMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Morgan Stanley - GBP/EUR</link:label>
    <link:label id="lab_kref_MorganStanleyGBPEURMember_label_en-US" xlink:label="lab_kref_MorganStanleyGBPEURMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Morgan Stanley - GBP/EUR [Member]</link:label>
    <link:label id="lab_kref_MorganStanleyGBPEURMember_documentation_en-US" xlink:label="lab_kref_MorganStanleyGBPEURMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Morgan Stanley - GBP/EUR</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MorganStanleyGBPEURMember" xlink:href="kref-20260630.xsd#kref_MorganStanleyGBPEURMember"/>
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    <link:label id="lab_kref_ChicagoILMember_019f40c2-aad1-7c54-8f0b-be84c052b9f6_terseLabel_en-US" xlink:label="lab_kref_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:label id="lab_kref_ChicagoILMember_label_en-US" xlink:label="lab_kref_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chicago, IL [Member]</link:label>
    <link:label id="lab_kref_ChicagoILMember_documentation_en-US" xlink:label="lab_kref_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ChicagoILMember" xlink:href="kref-20260630.xsd#kref_ChicagoILMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ChicagoILMember" xlink:to="lab_kref_ChicagoILMember" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_TN_019e40bf-a0b8-79fc-9f73-eb2e1f786354_terseLabel_en-US" xlink:label="lab_stpr_TN" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tennessee</link:label>
    <link:label id="lab_stpr_TN_label_en-US" xlink:label="lab_stpr_TN" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TENNESSEE</link:label>
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    <link:label id="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity_019e40bf-a171-78b1-9894-5a7eca7ff544_terseLabel_en-US" xlink:label="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of Stockholders' Equity</link:label>
    <link:label id="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity_label_en-US" xlink:label="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repurchase Agreement Counterparty, Amount At Risk, Percent Of Stockholders' Equity</link:label>
    <link:label id="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity_documentation_en-US" xlink:label="lab_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repurchase Agreement Counterparty, Amount At Risk, Percent Of Stockholders' Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity" xlink:href="kref-20260630.xsd#kref_RepurchaseAgreementCounterpartyAmountAtRiskPercentOfStockholdersEquity"/>
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    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_019e40bf-a0b8-74c6-98ea-c72b4aa0ebbb_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Earnings (Loss) Per Share</link:label>
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    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtDisclosureAbstract"/>
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    <link:label id="lab_srt_MinimumMember_019e40bf-a171-735e-bc19-d966a24c770f_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MinimumMember"/>
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    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable_019e40bf-a0b8-7472-8d53-68a49c8726e6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
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    <link:label id="lab_us-gaap_LiabilitiesAbstract_019e40bf-a0b8-779a-b502-d841e32efea1_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
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    <link:label id="lab_kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember_documentation_en-US" xlink:label="lab_kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Future Funding Commitment Related to Commercial Mortgage Loan Investments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember" xlink:href="kref-20260630.xsd#kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember" xlink:to="lab_kref_FutureFundingCommitmentRelatedtoCommercialMortgageLoanInvestmentsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommonStockAndPreferredStockSharesAuthorized_019e40bf-a172-78be-9d17-1bbe69d25046_terseLabel_en-US" xlink:label="lab_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock and preferred stock, shares authorized (in shares)</link:label>
    <link:label id="lab_kref_CommonStockAndPreferredStockSharesAuthorized_label_en-US" xlink:label="lab_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock And Preferred Stock, Shares Authorized</link:label>
    <link:label id="lab_kref_CommonStockAndPreferredStockSharesAuthorized_documentation_en-US" xlink:label="lab_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock And Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:href="kref-20260630.xsd#kref_CommonStockAndPreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:to="lab_kref_CommonStockAndPreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_019e40bf-a0b8-7f1e-9dd3-19c1607e8128_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementOfIncomeLocationBalanceAxis_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Location, Statement of Income, Balance [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfIncomeLocationBalanceAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:to="lab_us-gaap_StatementOfIncomeLocationBalanceAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_019e40bf-a1fd-7eb0-b3ea-dfc061f692a1_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
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    <link:label id="lab_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss_019e40bf-a0b8-7347-9be7-bbce0bd85abe_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Accrued Interest, after Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss" xlink:to="lab_us-gaap_FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilities_019e40bf-a171-7d65-9ffa-2a266e8c4531_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_019e40bf-a171-781b-803d-7423828fb504_totalLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsCommonStock_019e40bf-a171-7f70-be19-3f35dd26a1dc_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Common dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_019e40bf-a171-7d62-a430-a87fcb5f4af3_verboseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Dividends paid</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_019e40bf-a1fd-7684-8d30-ae9c63356943_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_019e40bf-a171-7d67-8d2c-794708ad549d_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Owned</link:label>
    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateOwnedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateOwnedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOwnedTextBlock" xlink:to="lab_us-gaap_RealEstateOwnedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_019e40bf-a0b8-7c89-802d-a5f65b6c5ddd_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_019e40bf-a0b8-7e3c-a82a-386daeb9ed53_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of stock, number of shares issued in transaction (in shares)</link:label>
    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_label_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of Stock, Number of Shares Issued in Transaction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardExrcPrice_terseLabel_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise Price</link:label>
    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardExrcPrice" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardExrcPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardExrcPrice" xlink:to="lab_ecd_AwardExrcPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsRecurringMember_019e40bf-a1fd-74dd-aefd-d2725d90c0e0_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recurring</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsRecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsRecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementsRecurringMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsRecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsRecurringMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_019e40bf-a0b8-7899-a6a6-16a5fdcccf4e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedNet_019e40bf-a0b7-71dc-b36e-1fca9aa07b2f_totalLabel_en-US" xlink:label="lab_kref_RealEstateOwnedNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, net</link:label>
    <link:label id="lab_kref_RealEstateOwnedNet_label_en-US" xlink:label="lab_kref_RealEstateOwnedNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Net</link:label>
    <link:label id="lab_kref_RealEstateOwnedNet_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedNet" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedNet" xlink:to="lab_kref_RealEstateOwnedNet" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_019e40bf-a1fe-73e0-8152-dfd6c076dd87_terseLabel_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock repurchase program, authorized amount (up to)</link:label>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_label_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Authorized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_StockRepurchaseProgramAuthorizedAmount1"/>
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    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffThreeYearsBeforeLatestFiscalYear_019e40bf-a171-727c-b173-65420c5ab17b_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffThreeYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year three, write-off</link:label>
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    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityPurchases_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityPurchases" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetLiabilityPurchases"/>
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    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_label_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember"/>
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    <link:label id="lab_kref_MinneapolisMNMember_label_en-US" xlink:label="lab_kref_MinneapolisMNMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minneapolis, MN [Member]</link:label>
    <link:label id="lab_kref_MinneapolisMNMember_documentation_en-US" xlink:label="lab_kref_MinneapolisMNMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minneapolis, MN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MinneapolisMNMember" xlink:href="kref-20260630.xsd#kref_MinneapolisMNMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MinneapolisMNMember" xlink:to="lab_kref_MinneapolisMNMember" xlink:type="arc" order="1"/>
    <link:label id="lab_stpr_TX_019e40bf-a171-7e14-87d5-9be501a955c5_terseLabel_en-US" xlink:label="lab_stpr_TX" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Texas</link:label>
    <link:label id="lab_stpr_TX_label_en-US" xlink:label="lab_stpr_TX" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TEXAS</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_stpr_TX" xlink:href="https://xbrl.sec.gov/stpr/2026/stpr-2026.xsd#stpr_TX"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_stpr_TX" xlink:to="lab_stpr_TX" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember_019e40bf-a171-7e95-9f2d-8e0f8c9c39a7_terseLabel_en-US" xlink:label="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Morgan Stanley, Wells Fargo, Goldman Sachs</link:label>
    <link:label id="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember_label_en-US" xlink:label="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Morgan Stanley, Wells Fargo, Goldman Sachs [Member]</link:label>
    <link:label id="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember_documentation_en-US" xlink:label="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Morgan Stanley, Wells Fargo, Goldman Sachs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:href="kref-20260630.xsd#kref_MorganStanleyWellsFargoGoldmanSachsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:to="lab_kref_MorganStanleyWellsFargoGoldmanSachsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityAxis_019e40bf-a0b8-7825-9576-edf56184f1ae_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lender Name [Axis]</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lender Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LineOfCreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityAxis" xlink:to="lab_us-gaap_LineOfCreditFacilityAxis" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_SpecialMentionMember_label_en-US" xlink:label="lab_us-gaap_SpecialMentionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Special Mention [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SpecialMentionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SpecialMentionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SpecialMentionMember" xlink:to="lab_us-gaap_SpecialMentionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXVMember_019e40bf-a1fe-7a13-aa13-4aeaef18a154_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XV</link:label>
    <link:label id="lab_kref_KREFLendingXVMember_label_en-US" xlink:label="lab_kref_KREFLendingXVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XV [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXVMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XV</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXVMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXVMember" xlink:to="lab_kref_KREFLendingXVMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_019e40bf-a0b8-7238-992c-808f8f6d3b1c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_UnconsolidatedEnityMember_019e40bf-a0b8-7467-9d69-316531724004_terseLabel_en-US" xlink:label="lab_kref_UnconsolidatedEnityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Enity</link:label>
    <link:label id="lab_kref_UnconsolidatedEnityMember_label_en-US" xlink:label="lab_kref_UnconsolidatedEnityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unconsolidated Enity [Member]</link:label>
    <link:label id="lab_kref_UnconsolidatedEnityMember_documentation_en-US" xlink:label="lab_kref_UnconsolidatedEnityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unconsolidated Enity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_UnconsolidatedEnityMember" xlink:href="kref-20260630.xsd#kref_UnconsolidatedEnityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_UnconsolidatedEnityMember" xlink:to="lab_kref_UnconsolidatedEnityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_019e40bf-a171-7023-8b75-1f68563ec625_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock liquidation preference (usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreference_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreference" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreference" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockLiquidationPreference"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreference" xlink:to="lab_us-gaap_PreferredStockLiquidationPreference" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_019e40bf-a0b7-7e80-b5b9-1092b94c8ddb_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance discount costs</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"/>
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    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestments_019e40bf-a171-788a-8ff6-9197b01f4e6e_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity method investments</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_019e40bf-a0b8-79a9-bd66-80b097cc7530_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_019e40bf-a0b7-7ccf-9042-f5fe6ec10e02_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeDomain" xlink:to="lab_us-gaap_MeasurementInputTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_019e40bf-a0b8-7a5f-80f3-5f6336b60f87_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial mortgage loans, held-for-investment, net, fair value</link:label>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LoansReceivableFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstatePropertiesDomain_019e40bf-a1fd-717d-8fc6-60389ad3402a_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Properties [Domain]</link:label>
    <link:label id="lab_us-gaap_RealEstatePropertiesDomain_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Properties [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstatePropertiesDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstatePropertiesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesDomain" xlink:to="lab_us-gaap_RealEstatePropertiesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
    <link:label id="lab_ecd_TrdArrAdoptionDate_label_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Adoption Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrAdoptionDate" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrAdoptionDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrAdoptionDate" xlink:to="lab_ecd_TrdArrAdoptionDate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LongtermDebtRecourseLimitPercent_019e40bf-a0b8-77b7-9dc7-e474887b8926_terseLabel_en-US" xlink:label="lab_kref_LongtermDebtRecourseLimitPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recourse limit</link:label>
    <link:label id="lab_kref_LongtermDebtRecourseLimitPercent_label_en-US" xlink:label="lab_kref_LongtermDebtRecourseLimitPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Recourse Limit Percent</link:label>
    <link:label id="lab_kref_LongtermDebtRecourseLimitPercent_documentation_en-US" xlink:label="lab_kref_LongtermDebtRecourseLimitPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-term Debt, Recourse Limit Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LongtermDebtRecourseLimitPercent" xlink:href="kref-20260630.xsd#kref_LongtermDebtRecourseLimitPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LongtermDebtRecourseLimitPercent" xlink:to="lab_kref_LongtermDebtRecourseLimitPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_019e40bf-a171-74c5-95ff-32d6a0d9d8d9_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentMember_019e40bf-a171-705c-be3c-abc5e6d33a7f_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, held-for-investment</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentMember_label_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Investment [Member]</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForInvestmentMember_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForInvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedHeldForInvestmentMember" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedHeldForInvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedHeldForInvestmentMember" xlink:to="lab_kref_RealEstateOwnedHeldForInvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_019e40bf-a0b8-7c26-b604-5fdd706efed0_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other income</link:label>
    <link:label id="lab_us-gaap_NonoperatingIncomeExpense_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonoperating Income (Expense)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpense" xlink:to="lab_us-gaap_NonoperatingIncomeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_NonrecourseDebtMember_019e40bf-a171-76c3-aa33-bbd41464d369_terseLabel_en-US" xlink:label="lab_kref_NonrecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nonrecourse</link:label>
    <link:label id="lab_kref_NonrecourseDebtMember_label_en-US" xlink:label="lab_kref_NonrecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nonrecourse Debt [Member]</link:label>
    <link:label id="lab_kref_NonrecourseDebtMember_documentation_en-US" xlink:label="lab_kref_NonrecourseDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Nonrecourse Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_NonrecourseDebtMember" xlink:href="kref-20260630.xsd#kref_NonrecourseDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_NonrecourseDebtMember" xlink:to="lab_kref_NonrecourseDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_019e40bf-a1fd-7f09-bf25-99dc78217f41_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment_019e40bf-a171-7af8-936f-60ac5c90ae51_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds (payment) on sale of real estate owned, held-for-investment</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for (Proceeds from) Real Estate, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment" xlink:to="lab_us-gaap_PaymentsForProceedsFromRealEstateHeldforinvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_019e40bf-a1fd-73ef-9105-eda8e10f6785_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Maturity (Years)</link:label>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_label_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Average Remaining Maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAverageRemainingMaturity1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:to="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfDebt_019e40bf-a0b8-7c13-9f0f-cb87112aed2f_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Principal repayments</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfDebt" xlink:to="lab_us-gaap_RepaymentsOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_019e40bf-a0b8-74cc-af24-42dfb42782d4_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contribution by noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_019e40bf-a171-7d8a-b143-7803b2e25798_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Net Income [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsNetIncomeTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsNetIncomeTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_019e40bf-a0b8-7deb-be73-6eb526793ed2_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental income</link:label>
    <link:label id="lab_us-gaap_OperatingLeaseLeaseIncome_label_en-US" xlink:label="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Lease, Lease Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingLeaseLeaseIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeaseLeaseIncome" xlink:to="lab_us-gaap_OperatingLeaseLeaseIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_019e40bf-a172-709a-87c0-d827450f9b70_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted stock units</link:label>
    <link:label id="lab_us-gaap_RestrictedStockUnitsRSUMember_label_en-US" xlink:label="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock Units (RSUs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockUnitsRSUMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RestrictedStockUnitsRSUMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockUnitsRSUMember" xlink:to="lab_us-gaap_RestrictedStockUnitsRSUMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock_019e40bf-a0b8-7ca9-83f5-e47dd8541f34_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Amortization of Lease Intangibles</link:label>
    <link:label id="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock_label_en-US" xlink:label="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Amortization Of Lease Intangibles Included In Income [Table Text Block]</link:label>
    <link:label id="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Amortization Of Lease Intangibles Included In Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:to="lab_kref_RealEstateOwnedAmortizationOfLeaseIntangiblesIncludedInIncomeTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_WeightedAverageMember_019e40bf-a0b8-728b-a883-08682dd400b7_terseLabel_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average</link:label>
    <link:label id="lab_srt_WeightedAverageMember_label_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_WeightedAverageMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WeightedAverageMember" xlink:to="lab_srt_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_019e40bf-a172-7966-aa32-1a063b522136_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_019e40bf-a1fd-76d9-b9bf-48b0c602a6be_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreferenceValue_019e40bf-a1fe-74a2-8e6c-7c0e0bf03f0a_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, liquidation preference</link:label>
    <link:label id="lab_us-gaap_PreferredStockLiquidationPreferenceValue_label_en-US" xlink:label="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Liquidation Preference, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockLiquidationPreferenceValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:to="lab_us-gaap_PreferredStockLiquidationPreferenceValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OtherEuropeCountriesMember_019e40bf-a1fd-7904-8cf8-1aacc45d90b7_terseLabel_en-US" xlink:label="lab_kref_OtherEuropeCountriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Europe</link:label>
    <link:label id="lab_kref_OtherEuropeCountriesMember_label_en-US" xlink:label="lab_kref_OtherEuropeCountriesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Europe Countries [Member]</link:label>
    <link:label id="lab_kref_OtherEuropeCountriesMember_documentation_en-US" xlink:label="lab_kref_OtherEuropeCountriesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Europe Countries</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OtherEuropeCountriesMember" xlink:href="kref-20260630.xsd#kref_OtherEuropeCountriesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OtherEuropeCountriesMember" xlink:to="lab_kref_OtherEuropeCountriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubstandardMember_019e40bf-a171-76c3-b1fb-69219f564fd0_terseLabel_en-US" xlink:label="lab_us-gaap_SubstandardMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average Risk</link:label>
    <link:label id="lab_us-gaap_SubstandardMember_label_en-US" xlink:label="lab_us-gaap_SubstandardMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Substandard [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubstandardMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubstandardMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubstandardMember" xlink:to="lab_us-gaap_SubstandardMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_019e40bf-a172-7c65-953c-efd66b8b7f0e_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_019e40bf-a0b7-72e4-8b05-48ee4d914229_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_019e40bf-a1fe-72f6-8196-2d6b105d31dc_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Option, Quantitative Disclosures [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Option, Quantitative Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:to="lab_us-gaap_FairValueOptionQuantitativeDisclosuresLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_019e40bf-a171-79c9-9814-c068794fbb10_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Expenses</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OperatingExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract" xlink:to="lab_us-gaap_OperatingExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LiabilitiesGross_019e40bf-a0b8-7439-bfe6-2ab83aaa5489_totalLabel_en-US" xlink:label="lab_kref_LiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Liabilities, principal balance</link:label>
    <link:label id="lab_kref_LiabilitiesGross_label_en-US" xlink:label="lab_kref_LiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Gross</link:label>
    <link:label id="lab_kref_LiabilitiesGross_documentation_en-US" xlink:label="lab_kref_LiabilitiesGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liabilities, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LiabilitiesGross" xlink:href="kref-20260630.xsd#kref_LiabilitiesGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LiabilitiesGross" xlink:to="lab_kref_LiabilitiesGross" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OtherUSMember_019e40bf-a172-7a75-8ea0-2c422098dc93_verboseLabel_en-US" xlink:label="lab_kref_OtherUSMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other U.S.</link:label>
    <link:label id="lab_kref_OtherUSMember_019e40bf-a172-746b-be27-547d5ed891da_terseLabel_en-US" xlink:label="lab_kref_OtherUSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_kref_OtherUSMember_label_en-US" xlink:label="lab_kref_OtherUSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other-US [Member]</link:label>
    <link:label id="lab_kref_OtherUSMember_documentation_en-US" xlink:label="lab_kref_OtherUSMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other-US</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OtherUSMember" xlink:href="kref-20260630.xsd#kref_OtherUSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OtherUSMember" xlink:to="lab_kref_OtherUSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_019e40bf-a1fe-79e6-b6eb-be39e1fb7720_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput_019f463f-d90c-71d6-a266-18aba0aaa872_terseLabel_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in CMBS securities, measurement input</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput_label_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities, Measurement Input</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput_documentation_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:href="kref-20260630.xsd#kref_InvestmentsInCMBSSecuritiesMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:to="lab_kref_InvestmentsInCMBSSecuritiesMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicConcentrationRiskMember_019e40bf-a0b8-7038-9805-47dddcb86089_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic concentration risk</link:label>
    <link:label id="lab_us-gaap_GeographicConcentrationRiskMember_label_en-US" xlink:label="lab_us-gaap_GeographicConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Concentration Risk [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeographicConcentrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicConcentrationRiskMember" xlink:to="lab_us-gaap_GeographicConcentrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentInformationTable_019e40bf-a171-7ac8-9f6d-fadea3414f6c_terseLabel_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:label id="lab_dei_DocumentInformationTable_label_en-US" xlink:label="lab_dei_DocumentInformationTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentInformationTable" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentInformationTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentInformationTable" xlink:to="lab_dei_DocumentInformationTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_019e40bf-a0b8-7ca5-8d5d-fd972316062e_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock" xlink:to="lab_us-gaap_SubsequentEventsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ForgoneRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryIndName" xlink:to="lab_ecd_ForgoneRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_019e40bf-a171-72e4-97cd-c806f203b61b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Grant Date Fair Value Per RSU</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets_019e40bf-a0b8-7091-a994-527da1a8893a_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total indebtedness covenant, percent of total assets, net of VIE liabilities (as a percent)</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Indebtedness, Percent Of Total Assets</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Indebtedness, Percent Of Total Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:to="lab_kref_DebtInstrumentCovenantTotalIndebtednessPercentOfTotalAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityDomain_019e40bf-a0b8-7938-82c7-791a275b718c_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain" xlink:to="lab_dei_EntityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_MountainViewCAMember_019e40bf-a171-76cb-84ca-8ec01a2b73f0_terseLabel_en-US" xlink:label="lab_kref_MountainViewCAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mountain View, CA</link:label>
    <link:label id="lab_kref_MountainViewCAMember_label_en-US" xlink:label="lab_kref_MountainViewCAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mountain View, CA [Member]</link:label>
    <link:label id="lab_kref_MountainViewCAMember_documentation_en-US" xlink:label="lab_kref_MountainViewCAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mountain View, CA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_MountainViewCAMember" xlink:href="kref-20260630.xsd#kref_MountainViewCAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_MountainViewCAMember" xlink:to="lab_kref_MountainViewCAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DividendsPolicyTextBlock_019e40bf-a171-78f6-8237-102d2f384788_terseLabel_en-US" xlink:label="lab_kref_DividendsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:label id="lab_kref_DividendsPolicyTextBlock_label_en-US" xlink:label="lab_kref_DividendsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends [Policy Text Block]</link:label>
    <link:label id="lab_kref_DividendsPolicyTextBlock_documentation_en-US" xlink:label="lab_kref_DividendsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DividendsPolicyTextBlock" xlink:href="kref-20260630.xsd#kref_DividendsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DividendsPolicyTextBlock" xlink:to="lab_kref_DividendsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_HSBCMember_019e40bf-a1fd-78b6-ad7c-5753787aedcb_terseLabel_en-US" xlink:label="lab_kref_HSBCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">HSBC Facility</link:label>
    <link:label id="lab_kref_HSBCMember_label_en-US" xlink:label="lab_kref_HSBCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">HSBC [Member]</link:label>
    <link:label id="lab_kref_HSBCMember_documentation_en-US" xlink:label="lab_kref_HSBCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">HSBC [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_HSBCMember" xlink:href="kref-20260630.xsd#kref_HSBCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_HSBCMember" xlink:to="lab_kref_HSBCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_019e40bf-a1fe-7fdf-9a2f-327c16dc0429_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CollateralizedLoanObligationIncludingInterestNet_019e40bf-a171-7320-a4a4-8f5681362ba4_terseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated variable interest entities liabilities, CMBS trusts, at fair value</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationIncludingInterestNet_019e40bf-a171-73c4-b758-0a2dca0df320_totalLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationIncludingInterestNet_label_en-US" xlink:label="lab_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation, Including Interest, Net</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationIncludingInterestNet_documentation_en-US" xlink:label="lab_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation, Including Interest, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:href="kref-20260630.xsd#kref_CollateralizedLoanObligationIncludingInterestNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:to="lab_kref_CollateralizedLoanObligationIncludingInterestNet" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets_019e40bf-a0b8-7389-988a-6b3f2bb83613_terseLabel_en-US" xlink:label="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of other assets related to real estate owned</link:label>
    <link:label id="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets_label_en-US" xlink:label="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Of Real Estate Owned, Other Assets</link:label>
    <link:label id="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets_documentation_en-US" xlink:label="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition Of Real Estate Owned, Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:href="kref-20260630.xsd#kref_AcquisitionOfRealEstateOwnedOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:to="lab_kref_AcquisitionOfRealEstateOwnedOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_019e40bf-a171-7684-b8d1-73d31dbc5768_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain_019e40bf-a1fe-7ee5-8043-28f1bec2260d_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Purchase Commitment, Category of Item Purchased [Domain]</link:label>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Purchase Commitment, Category of Item Purchased [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain" xlink:to="lab_us-gaap_LongTermPurchaseCommitmentCategoryOfItemPurchasedDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_019e40bf-a1fe-71f0-af82-9da1f97efa65_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ForeignExchangeContractPoundMember_019e40bf-a171-77c5-bace-b2c60e1bc8dc_terseLabel_en-US" xlink:label="lab_kref_ForeignExchangeContractPoundMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward Contract - GBP</link:label>
    <link:label id="lab_kref_ForeignExchangeContractPoundMember_label_en-US" xlink:label="lab_kref_ForeignExchangeContractPoundMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract, Pound [Member]</link:label>
    <link:label id="lab_kref_ForeignExchangeContractPoundMember_documentation_en-US" xlink:label="lab_kref_ForeignExchangeContractPoundMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract, Pound</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ForeignExchangeContractPoundMember" xlink:href="kref-20260630.xsd#kref_ForeignExchangeContractPoundMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ForeignExchangeContractPoundMember" xlink:to="lab_kref_ForeignExchangeContractPoundMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SecuredTermLoanNetAbstract_label_en-US" xlink:label="lab_kref_SecuredTermLoanNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Term Loan, Net [Abstract]</link:label>
    <link:label id="lab_kref_SecuredTermLoanNetAbstract_documentation_en-US" xlink:label="lab_kref_SecuredTermLoanNetAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Term Loan, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SecuredTermLoanNetAbstract" xlink:href="kref-20260630.xsd#kref_SecuredTermLoanNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SecuredTermLoanNetAbstract" xlink:to="lab_kref_SecuredTermLoanNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_019e40bf-a172-72ca-88dc-7125089bd705_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based compensation expense</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock_019e40bf-a0b8-7589-b081-f02a5d0f4ad7_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Liabilities Included in Consolidated Balance Sheet</link:label>
    <link:label id="lab_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Assets and Associated Liabilities Accounted for as Secured Borrowings [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock" xlink:to="lab_us-gaap_ScheduleOfQuantitativeInformationAboutFinancialAssetsAndAssociatedLiabilitiesAccountedForAsSecuredBorrowingsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_019e40bf-a171-72da-80cd-0628c8390e84_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Basis [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Basis [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementBasisAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueByMeasurementBasisAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementBasisAxis" xlink:to="lab_us-gaap_FairValueByMeasurementBasisAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_019e40bf-a172-7e20-9df1-30710de8413a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase and retirement of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_019e40bf-a172-7939-b871-7d958783623e_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchased common stock retired (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased and Retired During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount_019e40bf-a1fd-7153-a4df-b51c9542b622_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution priority</link:label>
    <link:label id="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount_label_en-US" xlink:label="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Distribution Priority, Amount</link:label>
    <link:label id="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount_documentation_en-US" xlink:label="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Distribution Priority, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:href="kref-20260630.xsd#kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:to="lab_kref_VariableInterestEntityPrimaryBeneficiaryDistributionPriorityAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_019e40bf-a0b8-7ba4-82af-393a5143da6f_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted, weighted average grant date fair value (usd per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther_019e40bf-a0b8-78b5-8cc7-24d01d7b3c55_terseLabel_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther_label_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Other</link:label>
    <link:label id="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:to="lab_kref_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_019e40bf-a1fd-7833-918c-03d0504da206_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedGross_019e40bf-a1fe-7d93-93d8-e019465feba2_totalLabel_en-US" xlink:label="lab_kref_RealEstateOwnedGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Real estate owned</link:label>
    <link:label id="lab_kref_RealEstateOwnedGross_label_en-US" xlink:label="lab_kref_RealEstateOwnedGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Gross</link:label>
    <link:label id="lab_kref_RealEstateOwnedGross_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedGross" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedGross" xlink:to="lab_kref_RealEstateOwnedGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_019e40bf-a172-7c70-815b-6edaddd791f5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited/ cancelled, weighted average grant date fair value (usd per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_019e40bf-a1fe-7af8-a733-b6e05748313b_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchased Stock</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:to="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompRecoveryTable_terseLabel_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery</link:label>
    <link:label id="lab_ecd_ErrCompRecoveryTable_label_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompRecoveryTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ErrCompRecoveryTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompRecoveryTable" xlink:to="lab_ecd_ErrCompRecoveryTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_019e40bf-a1fe-7abe-8aa6-61dfeca37830_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value Level 3 Inputs, Liabilities</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDebtIssuanceCosts_019e40bf-a171-7a2e-94be-ac47fdf9f3db_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments of debt and collateralized debt obligation issuance costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDebtIssuanceCosts_019e40bf-a171-7e43-bde9-e722020e5dd4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred debt issuance costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDebtIssuanceCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Debt Issuance Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsOfDebtIssuanceCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:to="lab_us-gaap_PaymentsOfDebtIssuanceCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCurrentReportingStatus_019e40bf-a0b8-7a71-a539-8910ad6abd3b_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCurrentReportingStatus" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityCurrentReportingStatus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus" xlink:to="lab_dei_EntityCurrentReportingStatus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_019e40bf-a0b7-71a9-84e0-36d26134bd51_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_019e40bf-a172-717e-88d4-64f24be4d1a7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment to acquire real estate owned</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_019e40bf-a172-7a8a-8d84-8c79dd3e7c30_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate acquisition costs</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstate" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PaymentsForInterestPaidInKind_019e40bf-a0b8-7290-9eba-07889f51da13_negatedTerseLabel_en-US" xlink:label="lab_kref_PaymentsForInterestPaidInKind" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payment-in-kind interest</link:label>
    <link:label id="lab_kref_PaymentsForInterestPaidInKind_label_en-US" xlink:label="lab_kref_PaymentsForInterestPaidInKind" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Interest Paid In Kind</link:label>
    <link:label id="lab_kref_PaymentsForInterestPaidInKind_documentation_en-US" xlink:label="lab_kref_PaymentsForInterestPaidInKind" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments For Interest Paid In Kind</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PaymentsForInterestPaidInKind" xlink:href="kref-20260630.xsd#kref_PaymentsForInterestPaidInKind"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PaymentsForInterestPaidInKind" xlink:to="lab_kref_PaymentsForInterestPaidInKind" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_019e40bf-a172-7dbc-ad32-6159f7326a56_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_019e40bf-a171-781c-8302-4643829b8313_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ChangeInFairValueOfLoanHeldForSale_019f5b04-f824-7288-b202-a4222d69695e_negatedTerseLabel_en-US" xlink:label="lab_kref_ChangeInFairValueOfLoanHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Change in fair value of loan held-for-sale</link:label>
    <link:label id="lab_kref_ChangeInFairValueOfLoanHeldForSale_label_en-US" xlink:label="lab_kref_ChangeInFairValueOfLoanHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Fair Value Of Loan Held-For-Sale</link:label>
    <link:label id="lab_kref_ChangeInFairValueOfLoanHeldForSale_documentation_en-US" xlink:label="lab_kref_ChangeInFairValueOfLoanHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change In Fair Value Of Loan Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ChangeInFairValueOfLoanHeldForSale" xlink:href="kref-20260630.xsd#kref_ChangeInFairValueOfLoanHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ChangeInFairValueOfLoanHeldForSale" xlink:to="lab_kref_ChangeInFairValueOfLoanHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock_019e40bf-a171-7e0b-9438-ccd692d435c4_terseLabel_en-US" xlink:label="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management and Incentive Compensation to Related Parties</link:label>
    <link:label id="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock_label_en-US" xlink:label="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management And Incentive Compensation To Affiliate [Policy Text Block]</link:label>
    <link:label id="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock_documentation_en-US" xlink:label="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management and Incentive Compensation to Affiliate [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:href="kref-20260630.xsd#kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:to="lab_kref_ManagementAndIncentiveCompensationToAffiliatePolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_019f7128-26ea-73a1-9527-9c0a785f0405_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingency Nature [Axis]</link:label>
    <link:label id="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis_label_en-US" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency Nature [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:to="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_019e40bf-a1fd-78c6-b360-3cb180a34611_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows From Financing Activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_LifeScienceMember_019e40bf-a0b8-7663-8f52-d3d0ceee8915_terseLabel_en-US" xlink:label="lab_kref_LifeScienceMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life Science</link:label>
    <link:label id="lab_kref_LifeScienceMember_label_en-US" xlink:label="lab_kref_LifeScienceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life Science [Member]</link:label>
    <link:label id="lab_kref_LifeScienceMember_documentation_en-US" xlink:label="lab_kref_LifeScienceMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Life Science</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_LifeScienceMember" xlink:href="kref-20260630.xsd#kref_LifeScienceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_LifeScienceMember" xlink:to="lab_kref_LifeScienceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy_019e40bf-a0b8-72a7-b698-103a2b7125b8_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate Loans, Held-For-Sale</link:label>
    <link:label id="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy_label_en-US" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Held-for-Sale [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy" xlink:to="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForSalePolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ParticipatingSecurityDividendsPerShareDeclared_019e40bf-a1fd-74bc-99c2-58c1831bddf1_terseLabel_en-US" xlink:label="lab_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Participating security dividends declared per share (usd per share)</link:label>
    <link:label id="lab_kref_ParticipatingSecurityDividendsPerShareDeclared_label_en-US" xlink:label="lab_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Participating Security Dividends, Per Share, Declared</link:label>
    <link:label id="lab_kref_ParticipatingSecurityDividendsPerShareDeclared_documentation_en-US" xlink:label="lab_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Participating Security Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:href="kref-20260630.xsd#kref_ParticipatingSecurityDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:to="lab_kref_ParticipatingSecurityDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_019e40bf-a1fd-7ff3-a98a-6b2a1025d708_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial Instruments [Domain]</link:label>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner_019e40bf-a172-74ff-8def-c7bda541230a_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage of partner (as a percent)</link:label>
    <link:label id="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner_label_en-US" xlink:label="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Qualitative Or Quantitative Information, Ownership Percentage Of Partner</link:label>
    <link:label id="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner_documentation_en-US" xlink:label="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Qualitative Or Quantitative Information, Ownership Percentage Of Partner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:href="kref-20260630.xsd#kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:to="lab_kref_VariableInterestEntityQualitativeOrQuantitativeInformationOwnershipPercentageOfPartner" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_019e40bf-a171-7ff3-bcba-07a316c53efb_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year four</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_019e40bf-a1fd-7d7b-a1b9-12421f078cce_netLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Earnings</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAssets_019e40bf-a1fd-7c45-b97c-9ba990f01d34_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency forward contracts</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardUndrlygSecuritiesAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:to="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_019e40bf-a171-7d3e-9eb9-76a986331302_terseLabel_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value</link:label>
    <link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_label_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimate of Fair Value Measurement [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear_019e40bf-a0b8-7bd8-93ef-13e76429537d_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior, write-off</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear_label_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing&#8203; Receivable, &#8203;Originated,&#8203; Gross Write-off, Five&#8203; Or&#8203; More &#8203;Years &#8203;Before &#8203;Latest&#8203; Fiscal &#8203;Year</link:label>
    <link:label id="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear_documentation_en-US" xlink:label="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing&#8203; Receivable, &#8203;Originated,&#8203; Gross Write-off, Five&#8203; Or&#8203; More &#8203;Years &#8203;Before &#8203;Latest&#8203; Fiscal &#8203;Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:href="kref-20260630.xsd#kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:to="lab_kref_FinancingReceivableOriginatedGrossWriteOffFiveOrMoreYearsBeforeLatestFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedLiabilitiesHeldForSale_019e40bf-a1fd-769a-ab24-f23cec8fdbca_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned liabilities, held-for-sale</link:label>
    <link:label id="lab_kref_RealEstateOwnedLiabilitiesHeldForSale_label_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Liabilities, Held For Sale</link:label>
    <link:label id="lab_kref_RealEstateOwnedLiabilitiesHeldForSale_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Liabilities, Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedLiabilitiesHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:to="lab_kref_RealEstateOwnedLiabilitiesHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_SubordinatedNoteMember_019e40bf-a0b8-7e02-9d7e-61d4e515daf3_terseLabel_en-US" xlink:label="lab_kref_SubordinatedNoteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subordinated Note</link:label>
    <link:label id="lab_kref_SubordinatedNoteMember_label_en-US" xlink:label="lab_kref_SubordinatedNoteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subordinated Note [Member]</link:label>
    <link:label id="lab_kref_SubordinatedNoteMember_documentation_en-US" xlink:label="lab_kref_SubordinatedNoteMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subordinated Note</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_SubordinatedNoteMember" xlink:href="kref-20260630.xsd#kref_SubordinatedNoteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_SubordinatedNoteMember" xlink:to="lab_kref_SubordinatedNoteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockMember_019e40bf-a171-79b9-90fc-eabc9ab20081_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A Preferred Stock</link:label>
    <link:label id="lab_us-gaap_PreferredStockMember_label_en-US" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingXIVMember_019e40bf-a0b7-7cff-951f-de9e8ff75cea_terseLabel_en-US" xlink:label="lab_kref_KREFLendingXIVMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending XIV</link:label>
    <link:label id="lab_kref_KREFLendingXIVMember_label_en-US" xlink:label="lab_kref_KREFLendingXIVMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending XIV [Member]</link:label>
    <link:label id="lab_kref_KREFLendingXIVMember_documentation_en-US" xlink:label="lab_kref_KREFLendingXIVMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending XIV</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingXIVMember" xlink:href="kref-20260630.xsd#kref_KREFLendingXIVMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingXIVMember" xlink:to="lab_kref_KREFLendingXIVMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_019e40bf-a0b8-7531-ba8b-017d3e112b88_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares available for awards ( in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_019e40bf-a171-7232-a6c2-1a0bd75121f8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_019e40bf-a0b8-7216-b4e9-2a5cbb1d3496_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Contracts</link:label>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_label_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Number of Instruments Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeNumberOfInstrumentsHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:to="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_019e40bf-a172-7622-9ffa-c798ef4ec2f6_periodStartLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance, unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_019e40bf-a172-7aff-9eec-6dae0843551c_periodEndLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance, unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffBalanceSheetCreditLossLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_019e40bf-a0b7-7665-a503-093a1974f748_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AllTradingArrangementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllTradingArrangementsMember" xlink:to="lab_ecd_AllTradingArrangementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_019e40bf-a171-736e-8e0b-879a05677e06_periodStartLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_019e40bf-a171-7b85-ac24-b08892a94168_periodEndLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_label_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OtherPerfMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_OtherPerfMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OtherPerfMeasureAmt" xlink:to="lab_ecd_OtherPerfMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_019e40bf-a171-7c7b-b0b2-8cf1515ba586_netLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Carrying value</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstate_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MortgageLoansOnRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstate" xlink:to="lab_us-gaap_MortgageLoansOnRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_019e40bf-a172-7945-9ba3-76e3d04b0c08_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CurrentFiscalYearEndDate" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CurrentFiscalYearEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate" xlink:to="lab_dei_CurrentFiscalYearEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentOwnedBalanceShares_019e40bf-a172-7bcc-8ec1-ec213d898434_verboseLabel_en-US" xlink:label="lab_us-gaap_InvestmentOwnedBalanceShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_InvestmentOwnedBalanceShares_label_en-US" xlink:label="lab_us-gaap_InvestmentOwnedBalanceShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Owned, Balance, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentOwnedBalanceShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentOwnedBalanceShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentOwnedBalanceShares" xlink:to="lab_us-gaap_InvestmentOwnedBalanceShares" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_InvestmentOwnedPercentage_019e40bf-a171-7a80-a939-5f6a402d4836_terseLabel_en-US" xlink:label="lab_kref_InvestmentOwnedPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issued and outstanding common stock owned, percentage (as a percent)</link:label>
    <link:label id="lab_kref_InvestmentOwnedPercentage_label_en-US" xlink:label="lab_kref_InvestmentOwnedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Owned, Percentage</link:label>
    <link:label id="lab_kref_InvestmentOwnedPercentage_documentation_en-US" xlink:label="lab_kref_InvestmentOwnedPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Owned, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_InvestmentOwnedPercentage" xlink:href="kref-20260630.xsd#kref_InvestmentOwnedPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_InvestmentOwnedPercentage" xlink:to="lab_kref_InvestmentOwnedPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgTotalCompAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgTotalCompAmt" xlink:to="lab_ecd_NonPeoNeoAvgTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_019e40bf-a171-785a-acdb-a4240240d771_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_019e40bf-a171-7148-a898-8d81ba1cd459_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:to="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_019e40bf-a1fd-7842-af01-69ae8dcd4d62_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared per share of common stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_019e40bf-a1fd-73e7-8e5b-572f8a546748_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared per share of common stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommonStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_019e40bf-a171-7c6e-af00-342c1fc145f8_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_019e40bf-a171-7b57-bb36-f94ce7f42e84_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentDomain_019e40bf-a0b8-7843-a1ce-2ff9a88fc808_terseLabel_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument [Domain]</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentDomain_label_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument [Domain]</link:label>
    <link:label id="lab_kref_CollateralizedLoanObligationInstrumentDomain_documentation_en-US" xlink:label="lab_kref_CollateralizedLoanObligationInstrumentDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligation Instrument [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CollateralizedLoanObligationInstrumentDomain" xlink:href="kref-20260630.xsd#kref_CollateralizedLoanObligationInstrumentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CollateralizedLoanObligationInstrumentDomain" xlink:to="lab_kref_CollateralizedLoanObligationInstrumentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee_019e40bf-a171-79a3-8134-2cec41ae315d_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trailing average period applied to termination fee multiple under management agreement (Months)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Trailing Period Applied To Multiple For Termination Fee</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Trailing Period Applied To Multiple For Termination Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:to="lab_kref_RelatedPartyTransactionTrailingPeriodAppliedToMultipleForTerminationFee" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_019e40bf-a0b8-7e11-a5c7-74cec200424c_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared per share of preferred stock (usd per share)</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsPerShareDeclared_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Dividends Per Share, Declared</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendsPerShareDeclared"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:to="lab_us-gaap_PreferredStockDividendsPerShareDeclared" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
    <link:label id="lab_ecd_MeasureAxis_label_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MeasureAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureAxis" xlink:to="lab_ecd_MeasureAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TreasuryStockCommonShares_019e40bf-a1fe-7864-b1e5-054f730aafee_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchased stock (in shares)</link:label>
    <link:label id="lab_us-gaap_TreasuryStockCommonShares_label_en-US" xlink:label="lab_us-gaap_TreasuryStockCommonShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury Stock, Common, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TreasuryStockCommonShares" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TreasuryStockCommonShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockCommonShares" xlink:to="lab_us-gaap_TreasuryStockCommonShares" xlink:type="arc" order="1"/>
    <link:label id="lab_country_ES_019f40cd-36a4-76bb-bfce-37316e947e4e_terseLabel_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spain</link:label>
    <link:label id="lab_country_ES_label_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SPAIN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_ES" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_ES"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_ES" xlink:to="lab_country_ES" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_019e40bf-a171-7fdf-8e00-f8a2aa7dacc9_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_PropertyOperatingRevenue_019e40bf-a0b8-7c5c-ae22-f80eef046ccb_totalLabel_en-US" xlink:label="lab_kref_PropertyOperatingRevenue" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Revenue from REO operations</link:label>
    <link:label id="lab_kref_PropertyOperatingRevenue_label_en-US" xlink:label="lab_kref_PropertyOperatingRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property Operating Revenue</link:label>
    <link:label id="lab_kref_PropertyOperatingRevenue_documentation_en-US" xlink:label="lab_kref_PropertyOperatingRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property Operating Revenue</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_PropertyOperatingRevenue" xlink:href="kref-20260630.xsd#kref_PropertyOperatingRevenue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_PropertyOperatingRevenue" xlink:to="lab_kref_PropertyOperatingRevenue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyMember_019e40bf-a171-7cbd-b454-3f1b37580fca_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party</link:label>
    <link:label id="lab_us-gaap_RelatedPartyMember_label_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RelatedPartyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyMember" xlink:to="lab_us-gaap_RelatedPartyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_019e40bf-a0b8-726e-a16a-4b82b0b85ac0_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Asset Acquisition</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetAcquisitionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:to="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_019e40bf-a172-7936-9c73-d4ae95fce44c_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019e40bf-a171-74a9-af21-801daee01ed3_netLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_019e40bf-a171-7cd0-ada4-df4601c43a8c_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet_019e40bf-a0b8-7742-8f21-308ce8212f41_terseLabel_en-US" xlink:label="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing/debt issuance costs</link:label>
    <link:label id="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet_label_en-US" xlink:label="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Line of Credit Arrangements, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:to="lab_us-gaap_DebtIssuanceCostsLineOfCreditArrangementsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_019e40bf-a171-78b2-91ee-e243e85c80f0_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput_019e40bf-a1fd-7c3e-b302-47fc0a1eaa82_terseLabel_en-US" xlink:label="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable interest entity liabilities, CMBS trust, measurement input</link:label>
    <link:label id="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput_label_en-US" xlink:label="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Liabilities, CMBS Trust, Measurement Input</link:label>
    <link:label id="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput_documentation_en-US" xlink:label="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Liabilities, CMBS Trust, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:href="kref-20260630.xsd#kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:to="lab_kref_VariableInterestEntityLiabilitiesCMBSTrustMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_019e40bf-a0b7-7d46-bfac-69bc797c7676_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unamortized discount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentUnamortizedDiscount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_019e40bf-a0b8-7da8-a3a4-41209adb3098_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repayments</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNumberOfLoans_019e40bf-a1fe-7721-b5b5-5a34ec7617a5_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan count (in loans)</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNumberOfLoans_019e40bf-a1fe-730a-98d2-59623368a809_verboseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of loans (in loans)</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNumberOfLoans_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Number of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:to="lab_srt_MortgageLoansOnRealEstateNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNet_019e40bf-a0b8-74da-a9d1-274acfa828de_totalLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net interest income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNet_019e40bf-a0b8-7662-8856-70eeab23f701_netLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net interest income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNet_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InterestIncomeExpenseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNet" xlink:to="lab_us-gaap_InterestIncomeExpenseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_019e40bf-a0b8-74f4-a6d2-dfbf568c33e0_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_019e40bf-a1fd-799a-bb22-187b708caf57_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_019e40bf-a171-710d-8ae7-d4208acafecf_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies</link:label>
    <link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CambridgeMAMember_019e40bf-a1fe-7471-a4f3-46cbb0d787b4_terseLabel_en-US" xlink:label="lab_kref_CambridgeMAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cambridge, MA</link:label>
    <link:label id="lab_kref_CambridgeMAMember_label_en-US" xlink:label="lab_kref_CambridgeMAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cambridge, MA [Member]</link:label>
    <link:label id="lab_kref_CambridgeMAMember_documentation_en-US" xlink:label="lab_kref_CambridgeMAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cambridge, MA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CambridgeMAMember" xlink:href="kref-20260630.xsd#kref_CambridgeMAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CambridgeMAMember" xlink:to="lab_kref_CambridgeMAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_OtherRealEstateOperationsIncome_019e40bf-a1fd-702c-a3dd-1c83feba6f2a_terseLabel_en-US" xlink:label="lab_kref_OtherRealEstateOperationsIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating income</link:label>
    <link:label id="lab_kref_OtherRealEstateOperationsIncome_label_en-US" xlink:label="lab_kref_OtherRealEstateOperationsIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Real Estate Operations Income</link:label>
    <link:label id="lab_kref_OtherRealEstateOperationsIncome_documentation_en-US" xlink:label="lab_kref_OtherRealEstateOperationsIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Real Estate Operations Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_OtherRealEstateOperationsIncome" xlink:href="kref-20260630.xsd#kref_OtherRealEstateOperationsIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_OtherRealEstateOperationsIncome" xlink:to="lab_kref_OtherRealEstateOperationsIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_019e40bf-a0b7-70d9-8581-30efaec4d2eb_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems" xlink:to="lab_us-gaap_SubsequentEventLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock_019e40bf-a1fd-70e0-8bdd-1e5267c32c9c_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of RSUs Outstanding to Vest</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangements by Share-Based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedStockUnitsVestedAndExpectedToVestTableTextBlock"/>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_019e40bf-a171-74c0-8377-1625d4fee510_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_019e40bf-a172-73cf-ad87-09506235dc70_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_019e40bf-a0b7-706f-86ae-c6762794a30a_verboseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Principal</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_019e40bf-a0b7-7a1d-aba9-4249e8226076_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Amount</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_019e40bf-a0b7-7af0-9b4a-1842ae513c25_netLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment, net, principal balance</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateFaceAmountOfMortgages"/>
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    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_019e40bf-a171-7772-8203-2a2a6a2d5bcf_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income (Loss) Before Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_019e40bf-a171-71a6-81e6-6d28b5fc0c8d_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies (Note 15)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_terseLabel_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Executive Category:</link:label>
    <link:label id="lab_ecd_ExecutiveCategoryAxis_label_en-US" xlink:label="lab_ecd_ExecutiveCategoryAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Executive Category [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ExecutiveCategoryAxis" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_ExecutiveCategoryAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ExecutiveCategoryAxis" xlink:to="lab_ecd_ExecutiveCategoryAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentTable_019e40bf-a0b7-7354-95f3-c0d977e6ea70_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Purchase Commitment [Table]</link:label>
    <link:label id="lab_us-gaap_LongTermPurchaseCommitmentTable_label_en-US" xlink:label="lab_us-gaap_LongTermPurchaseCommitmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Purchase Commitment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermPurchaseCommitmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LongTermPurchaseCommitmentTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermPurchaseCommitmentTable" xlink:to="lab_us-gaap_LongTermPurchaseCommitmentTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities_019e40bf-a1fd-74ca-84b6-7612ac1ce94d_terseLabel_en-US" xlink:label="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation of variable interest entities, CMBS Trust (incremental assets and liabilities)</link:label>
    <link:label id="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities_label_en-US" xlink:label="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation Of Variable Interest Entities (Incremental Assets And Liabilities)</link:label>
    <link:label id="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities_documentation_en-US" xlink:label="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidation Of Variable Interest Entities (Incremental Assets And Liabilities)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:href="kref-20260630.xsd#kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:to="lab_kref_ConsolidationOfVariableInterestEntitiesIncrementalAssetsAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CounterpartyNameAxis_019e40bf-a171-7041-bdc8-cf1a942f5344_terseLabel_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:label id="lab_srt_CounterpartyNameAxis_label_en-US" xlink:label="lab_srt_CounterpartyNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CounterpartyNameAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_CounterpartyNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CounterpartyNameAxis" xlink:to="lab_srt_CounterpartyNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember_019e40bf-a0b8-789a-9640-b62a5d042daa_terseLabel_en-US" xlink:label="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Loans Held For Investment and For Sale</link:label>
    <link:label id="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember_label_en-US" xlink:label="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Loans Held For Investment and For Sale [Member]</link:label>
    <link:label id="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember_documentation_en-US" xlink:label="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Loans Held For Investment and For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:href="kref-20260630.xsd#kref_CommercialLoansHeldForInvestmentAndForSaleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:to="lab_kref_CommercialLoansHeldForInvestmentAndForSaleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_019e40bf-a0b8-7021-af26-ebf0dd20c569_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_019e40bf-a171-7847-a0f2-10b7fbe99d82_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2030</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_019e40bf-a0b8-75f1-ba10-094caa591f4e_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_019e40bf-a0b8-77cb-b1ff-cdc4568941dc_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental Disclosure of Cash Flow Information</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_019e40bf-a0b7-73f1-9fe7-5459818dede9_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities_label_en-US" xlink:label="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities and Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AccruedLiabilitiesAndOtherLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:to="lab_us-gaap_AccruedLiabilitiesAndOtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxesPaid_019e40bf-a0b8-7af7-9411-59c3ac17b26d_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash paid during the period for income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaid_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Paid, before Refund Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaid" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxesPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaid" xlink:to="lab_us-gaap_IncomeTaxesPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingIXFacilityMember_019e40bf-a1fd-75b5-9384-65849d3d88cf_verboseLabel_en-US" xlink:label="lab_kref_KREFLendingIXFacilityMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending IX</link:label>
    <link:label id="lab_kref_KREFLendingIXFacilityMember_label_en-US" xlink:label="lab_kref_KREFLendingIXFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending IX Facility [Member]</link:label>
    <link:label id="lab_kref_KREFLendingIXFacilityMember_documentation_en-US" xlink:label="lab_kref_KREFLendingIXFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending IX Facility</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingIXFacilityMember" xlink:href="kref-20260630.xsd#kref_KREFLendingIXFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingIXFacilityMember" xlink:to="lab_kref_KREFLendingIXFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_019e40bf-a1fe-715e-a0f1-086aebe9d6ff_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Asset, Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings_019e40bf-a0b8-7096-969a-27cda3273267_totalLabel_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) included in change in net assets of consolidated variable interest entities, CMBS trusts</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings_label_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Gain (Loss) Included in Earnings</link:label>
    <link:label id="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings_documentation_en-US" xlink:label="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset (Liability), Gain (Loss) Included in Earnings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:href="kref-20260630.xsd#kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:to="lab_kref_FairValueMeasurementwithUnobservableInputsReconciliationRecurringBasisAssetLiabilityGainLossIncludedinEarnings" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateAssetMember_019e40bf-a171-72d9-9d87-b34c76525915_terseLabel_en-US" xlink:label="lab_kref_RealEstateAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Asset</link:label>
    <link:label id="lab_kref_RealEstateAssetMember_019efcdd-9d94-703d-929d-58d893e46de7_verboseLabel_en-US" xlink:label="lab_kref_RealEstateAssetMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Assets</link:label>
    <link:label id="lab_kref_RealEstateAssetMember_label_en-US" xlink:label="lab_kref_RealEstateAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Asset [Member]</link:label>
    <link:label id="lab_kref_RealEstateAssetMember_documentation_en-US" xlink:label="lab_kref_RealEstateAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateAssetMember" xlink:href="kref-20260630.xsd#kref_RealEstateAssetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateAssetMember" xlink:to="lab_kref_RealEstateAssetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_019e40bf-a171-71b0-a1c9-8fbd5f8aad4a_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Principal repayments on borrowings under secured financing agreements</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Secured Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfSecuredDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RepaymentsOfSecuredDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfSecuredDebt" xlink:to="lab_us-gaap_RepaymentsOfSecuredDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_IncreaseDecreaseInEquityMethodInvestments_019e40bf-a172-7d32-899e-3cf5b58252bb_negatedNetLabel_en-US" xlink:label="lab_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Loss (income) from equity method investments</link:label>
    <link:label id="lab_kref_IncreaseDecreaseInEquityMethodInvestments_label_en-US" xlink:label="lab_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity Method Investments</link:label>
    <link:label id="lab_kref_IncreaseDecreaseInEquityMethodInvestments_documentation_en-US" xlink:label="lab_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (Decrease) In Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:href="kref-20260630.xsd#kref_IncreaseDecreaseInEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:to="lab_kref_IncreaseDecreaseInEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_019e40bf-a1fd-7789-8cef-e1f8df8bfdb7_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_019e40bf-a1fd-76b6-8328-4122e0eeac39_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount_019e40bf-a0b8-7e95-8ede-8ef9411c6342_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value, collateral assets</link:label>
    <link:label id="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount_label_en-US" xlink:label="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers Accounted for as Secured Borrowings, Assets, Carrying Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount" xlink:to="lab_us-gaap_TransfersAccountedForAsSecuredBorrowingsAssetsCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssets_019e40bf-a171-7bc6-bbd5-10351200e13f_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseAndOtherAssets_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense and Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseAndOtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PrepaidExpenseAndOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseAndOtherAssets" xlink:to="lab_us-gaap_PrepaidExpenseAndOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProductConcentrationRiskMember_019e40bf-a1fe-7ed3-92a2-341e3385a537_terseLabel_en-US" xlink:label="lab_us-gaap_ProductConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Product concentration risk</link:label>
    <link:label id="lab_us-gaap_ProductConcentrationRiskMember_label_en-US" xlink:label="lab_us-gaap_ProductConcentrationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Product Concentration Risk [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProductConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProductConcentrationRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProductConcentrationRiskMember" xlink:to="lab_us-gaap_ProductConcentrationRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_019e40bf-a172-7845-9a9f-dac8b09a5f60_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RevenueRecognitionPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="lab_us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_019e40bf-a1fd-7eb0-bf63-4c569442c176_verboseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_019e40bf-a1fd-73cc-a244-0402dcf2f42a_netLabel_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Less: Preferred stock dividends</link:label>
    <link:label id="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact_label_en-US" xlink:label="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock Dividends, Income Statement Impact</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockDividendsIncomeStatementImpact"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:to="lab_us-gaap_PreferredStockDividendsIncomeStatementImpact" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentGainLossOnForeignCurrency_019e40bf-a0b8-7281-92f3-e0dde7b431fd_negatedTerseLabel_en-US" xlink:label="lab_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loss (gain) on foreign currency translation</link:label>
    <link:label id="lab_kref_DebtInstrumentGainLossOnForeignCurrency_label_en-US" xlink:label="lab_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Gain (Loss) On Foreign Currency</link:label>
    <link:label id="lab_kref_DebtInstrumentGainLossOnForeignCurrency_documentation_en-US" xlink:label="lab_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Gain (Loss) On Foreign Currency</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:href="kref-20260630.xsd#kref_DebtInstrumentGainLossOnForeignCurrency"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:to="lab_kref_DebtInstrumentGainLossOnForeignCurrency" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_019e40bf-a0b8-7545-ba65-a858d6b03f18_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
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    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:to="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_019e40bf-a0b7-7a71-920f-02ca52d58a5f_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase / Consolidation of CMBS trust/ Repayments</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPurchases" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_MtrlTermsOfTrdArrTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year</link:label>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
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    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_019e40bf-a1fe-7a0b-bda3-6d82c957ddf3_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business and Organization</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_019e40bf-a171-7f79-a664-1c8f1dc074a9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueMeasurementFrequencyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_019e40bf-a1fd-7f65-8b2e-c3d931b1ba30_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis" xlink:to="lab_us-gaap_DebtInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTable_019e40bf-a171-7f89-b22d-6b7c542f7ba7_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_SubsequentEventTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableForeignCurrencyGainLoss_019f5adf-d66a-7c54-85e4-ba5115156876_terseLabel_en-US" xlink:label="lab_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_kref_FinancingReceivableForeignCurrencyGainLoss_label_en-US" xlink:label="lab_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Foreign Currency Gain (Loss)</link:label>
    <link:label id="lab_kref_FinancingReceivableForeignCurrencyGainLoss_documentation_en-US" xlink:label="lab_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Foreign Currency Gain (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:href="kref-20260630.xsd#kref_FinancingReceivableForeignCurrencyGainLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:to="lab_kref_FinancingReceivableForeignCurrencyGainLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_019e40bf-a171-7dc3-843e-e62d3fe9b0f3_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToAffiliates_019e40bf-a1fd-70d0-9795-f72f388b8942_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due to related parties</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDueToAffiliates_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Due to Affiliates</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInDueToAffiliates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:to="lab_us-gaap_IncreaseDecreaseInDueToAffiliates" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_019e40bf-a172-79cd-a3b1-fe02595d7c19_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_019e40bf-a172-78c3-a064-b6b4425864e8_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic common share (usd per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_BMOHarrisMember_019e40bf-a0b8-79dc-8d6b-4b6160472371_terseLabel_en-US" xlink:label="lab_kref_BMOHarrisMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BMO Facility</link:label>
    <link:label id="lab_kref_BMOHarrisMember_label_en-US" xlink:label="lab_kref_BMOHarrisMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BMO Harris [Member]</link:label>
    <link:label id="lab_kref_BMOHarrisMember_documentation_en-US" xlink:label="lab_kref_BMOHarrisMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BMO Harris [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_BMOHarrisMember" xlink:href="kref-20260630.xsd#kref_BMOHarrisMember"/>
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    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_019e40bf-a0b8-70ad-b1b8-43d0c1bda258_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_MeasurementInputTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeAxis" xlink:to="lab_us-gaap_MeasurementInputTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedLiabilityAbstract_019e40bf-a0b7-7f26-b0af-7986845b0f03_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_kref_RealEstateOwnedLiabilityAbstract_019e40bf-a0b7-73a5-9e23-6f728873bed1_verboseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liability</link:label>
    <link:label id="lab_kref_RealEstateOwnedLiabilityAbstract_label_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Liability [Abstract]</link:label>
    <link:label id="lab_kref_RealEstateOwnedLiabilityAbstract_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedLiabilityAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedLiabilityAbstract" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedLiabilityAbstract"/>
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    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ScheduleOfNetInterestIncomeUnderSecuredBorrowingsTableTextBlock_019e40bf-a172-70ce-a99b-3312a7a6db61_terseLabel_en-US" xlink:label="lab_kref_ScheduleOfNetInterestIncomeUnderSecuredBorrowingsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Net Interest Income Included in Consolidated Statement of Income</link:label>
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    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMember_019e40bf-a1fe-7a33-8226-dace348f9608_terseLabel_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in CMBS securities</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMember_label_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities [Member]</link:label>
    <link:label id="lab_kref_InvestmentsInCMBSSecuritiesMember_documentation_en-US" xlink:label="lab_kref_InvestmentsInCMBSSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments In CMBS Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_InvestmentsInCMBSSecuritiesMember" xlink:href="kref-20260630.xsd#kref_InvestmentsInCMBSSecuritiesMember"/>
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    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLineItems_019e40bf-a171-7b47-a8e6-4477644f1e63_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateLineItems_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateLineItems" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateLineItems" xlink:to="lab_srt_MortgageLoansOnRealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_019e40bf-a171-794a-a0f7-ad243144bb25_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_019e40bf-a171-728b-9c06-06b52bb136c9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurement [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueDisclosureItemAmountsDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:to="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_019e40bf-a0b8-74fd-960a-b00cc300d37b_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:label id="lab_dei_CoverAbstract_label_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CoverAbstract" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_CoverAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CoverAbstract" xlink:to="lab_dei_CoverAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription_019e40bf-a172-77aa-89b2-2dcf7a7531c4_terseLabel_en-US" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassifications</link:label>
    <link:label id="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription_label_en-US" xlink:label="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification, Comparability Adjustment [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="lab_us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:type="arc" order="1"/>
    <link:label id="lab_country_GB_019e40bf-a0b8-7ce4-91b0-781b85aab1b8_terseLabel_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">United Kingdom</link:label>
    <link:label id="lab_country_GB_label_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED KINGDOM</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_GB" xlink:href="https://xbrl.sec.gov/country/2026/country-2026.xsd#country_GB"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GB" xlink:to="lab_country_GB" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_019e40bf-a172-78ee-812d-64f9bb819c93_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Inputs and Valuation Techniques [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_019e40bf-a171-7385-8ee2-c752a50b6c05_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration of credit risk (as a percent)</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_EqtyAwrdsAdjsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsMember" xlink:to="lab_ecd_EqtyAwrdsAdjsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RealEstateOwnedHeldForSaleMember_019e40bf-a0b8-79d7-b00e-b3525fe3174b_terseLabel_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, held-for-sale</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForSaleMember_label_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Sale [Member]</link:label>
    <link:label id="lab_kref_RealEstateOwnedHeldForSaleMember_documentation_en-US" xlink:label="lab_kref_RealEstateOwnedHeldForSaleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RealEstateOwnedHeldForSaleMember" xlink:href="kref-20260630.xsd#kref_RealEstateOwnedHeldForSaleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RealEstateOwnedHeldForSaleMember" xlink:to="lab_kref_RealEstateOwnedHeldForSaleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio_019e40bf-a172-7240-b3eb-5ae990466632_terseLabel_en-US" xlink:label="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income to interest expense ratio</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio_label_en-US" xlink:label="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Interest Income to Interest Expense Ratio</link:label>
    <link:label id="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio_documentation_en-US" xlink:label="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Interest Income to Interest Expense Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:href="kref-20260630.xsd#kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:to="lab_kref_DebtInstrumentCovenantInterestIncomeToInterestExpenseRatio" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_019e40bf-a0b8-7fce-bb5b-92d67dcd0fd5_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets, net</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_019e40bf-a0b8-793e-a1a2-64bc0538d2a7_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Future Minimum Lease Payments</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_019e40bf-a171-7162-bdad-5e1da6f795de_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities"/>
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    <link:label id="lab_us-gaap_PassMember_019e40bf-a1fd-7211-b03f-4cb1f06671cb_terseLabel_en-US" xlink:label="lab_us-gaap_PassMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Very Low Risk</link:label>
    <link:label id="lab_us-gaap_PassMember_label_en-US" xlink:label="lab_us-gaap_PassMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pass [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PassMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PassMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PassMember" xlink:to="lab_us-gaap_PassMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PlanNameAxis_019e40bf-a0b8-7a91-a90a-f19a52455cda_terseLabel_en-US" xlink:label="lab_us-gaap_PlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:label id="lab_us-gaap_PlanNameAxis_label_en-US" xlink:label="lab_us-gaap_PlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PlanNameAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PlanNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanNameAxis" xlink:to="lab_us-gaap_PlanNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_019e40bf-a0b8-7f9c-814b-83d808f89743_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Activity of Loans Held-for-investment and Held-for-investment</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
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    <link:label id="lab_kref_RelatedPartyTransactionTerminationFeeMultiple_019e40bf-a0b8-7a91-8e80-99a368b044f2_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination fee</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionTerminationFeeMultiple_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Termination Fee Multiple</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionTerminationFeeMultiple_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Termination Fee Multiple</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionTerminationFeeMultiple"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:to="lab_kref_RelatedPartyTransactionTerminationFeeMultiple" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_019e40bf-a1fd-778f-ac2d-727e5ef281c8_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total KKR Real Estate Finance Trust Inc. Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_019e40bf-a171-7bb2-888e-af80b763aa24_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestments_019e40bf-a1fd-7eae-a599-ed9ff28675e3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Payments for investments in CMBS securities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireInvestments_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PaymentsToAcquireInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_019e40bf-a1fd-70a5-b500-e89d336a67e3_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Forfeited/ cancelled (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeited in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtSecuritiesUnrealizedGainLoss_019e40bf-a171-7924-afef-4727299d4f58_terseLabel_en-US" xlink:label="lab_us-gaap_DebtSecuritiesUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss)</link:label>
    <link:label id="lab_us-gaap_DebtSecuritiesUnrealizedGainLoss_label_en-US" xlink:label="lab_us-gaap_DebtSecuritiesUnrealizedGainLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Securities, Unrealized Gain (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtSecuritiesUnrealizedGainLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtSecuritiesUnrealizedGainLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtSecuritiesUnrealizedGainLoss" xlink:to="lab_us-gaap_DebtSecuritiesUnrealizedGainLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale_019f5bae-b7cf-7957-9fce-ede365835b89_negatedTerseLabel_en-US" xlink:label="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to loan held-for-sale</link:label>
    <link:label id="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale_label_en-US" xlink:label="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Held-For-Investment, Transfer To Loan Held-For-Sale</link:label>
    <link:label id="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale_documentation_en-US" xlink:label="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Held-For-Investment, Transfer To Loan Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:href="kref-20260630.xsd#kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:to="lab_kref_FinancingReceivableHeldForInvestmentTransferToLoanHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_019e40bf-a171-79e8-88c2-ad60a16b074e_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_019e40bf-a0b7-7d59-be3a-76751dd0b537_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_PreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock_019e40bf-a1fd-7f1c-bce0-39c4263e6134_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets and Other Liabilities</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets and Other Liabilities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsAndOtherLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock_019e40bf-a0b7-72c1-9b8c-9aa942c4cf8c_terseLabel_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer of Financial Assets and Financing Agreements</link:label>
    <link:label id="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers and Servicing of Financial Assets, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:to="lab_us-gaap_TransfersAndServicingOfFinancialAssetsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_019e40bf-a0b8-7577-a8a9-ed0a62cd28aa_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Mortgage-Backed Securities</link:label>
    <link:label id="lab_us-gaap_CommercialMortgageBackedSecuritiesMember_label_en-US" xlink:label="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Mortgage-Backed Securities [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CommercialMortgageBackedSecuritiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:to="lab_us-gaap_CommercialMortgageBackedSecuritiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_019e40bf-a0b8-7d43-b7eb-ebafdb1400b0_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate properties</link:label>
    <link:label id="lab_us-gaap_NumberOfRealEstateProperties_label_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Real Estate Properties</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfRealEstateProperties" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_NumberOfRealEstateProperties"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties" xlink:to="lab_us-gaap_NumberOfRealEstateProperties" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ShareRepurchaseProgramAxis_019e40bf-a1fe-7c0c-8067-17ec808125c3_terseLabel_en-US" xlink:label="lab_srt_ShareRepurchaseProgramAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share Repurchase Program [Axis]</link:label>
    <link:label id="lab_srt_ShareRepurchaseProgramAxis_label_en-US" xlink:label="lab_srt_ShareRepurchaseProgramAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ShareRepurchaseProgramAxis" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_ShareRepurchaseProgramAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ShareRepurchaseProgramAxis" xlink:to="lab_srt_ShareRepurchaseProgramAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced_019e40bf-a171-79d2-9291-2b8973eb01ea_terseLabel_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of investment in senior mortgage loan percentage financed</link:label>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced_label_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Investment In Mortgage Loan, Percent Financed</link:label>
    <link:label id="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced_documentation_en-US" xlink:label="lab_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Investment In Mortgage Loan, Percent Financed</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced" xlink:href="kref-20260630.xsd#kref_EquityMethodInvestmentInvestmentInMortgageLoanPercentFinanced"/>
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    <link:label id="lab_us-gaap_ClassOfStockDomain_019e40bf-a172-7def-ba2c-9f7996686971_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_019e40bf-a1fd-7be6-a050-42c74f5dec6c_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
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    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted_019e40bf-a0b8-7272-acd4-46feadf47128_terseLabel_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of quarters worth of compensation already paid (calendar quarters)</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted_label_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Number Of Calendar Quarter's Compensation Subtracted</link:label>
    <link:label id="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted_documentation_en-US" xlink:label="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses From Transactions With Related Party, Denominator For Incentive Compensation, Number Of Calendar Quarter's Compensation Subtracted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:href="kref-20260630.xsd#kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:to="lab_kref_RelatedPartyTransactionExpensesFromTransactionsWithRelatedPartyDenominatorForIncentiveCompensationNumberOfCalendarQuartersCompensationSubtracted" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentPolicyTextBlock_019e40bf-a1fd-7e58-a319-dd2f12a40276_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in CMBS Securities</link:label>
    <link:label id="lab_us-gaap_InvestmentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_InvestmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_InvestmentPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentPolicyTextBlock" xlink:to="lab_us-gaap_InvestmentPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommonStockRemainingAuthorizedAmount_019e40bf-a171-7394-8f54-a2ebf6139063_terseLabel_en-US" xlink:label="lab_kref_CommonStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining authorized amount</link:label>
    <link:label id="lab_kref_CommonStockRemainingAuthorizedAmount_label_en-US" xlink:label="lab_kref_CommonStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Remaining Authorized Amount</link:label>
    <link:label id="lab_kref_CommonStockRemainingAuthorizedAmount_documentation_en-US" xlink:label="lab_kref_CommonStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Remaining Authorized Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommonStockRemainingAuthorizedAmount" xlink:href="kref-20260630.xsd#kref_CommonStockRemainingAuthorizedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommonStockRemainingAuthorizedAmount" xlink:to="lab_kref_CommonStockRemainingAuthorizedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_019e40bf-a0b8-7702-b1d6-038c5d2eee67_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale_019e40bf-a0b8-79e9-ad47-3c7e71929fbb_terseLabel_en-US" xlink:label="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net proceeds (payment) on sale of real estate owned, held-for-sale</link:label>
    <link:label id="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale_label_en-US" xlink:label="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds (Payment) On Sale Of Real Estate Owned, Held For Sale</link:label>
    <link:label id="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale_documentation_en-US" xlink:label="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds (Payment) On Sale Of Real Estate Owned, Held For Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:href="kref-20260630.xsd#kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:to="lab_kref_ProceedsPaymentOnSaleOfRealEstateOwnedHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_019e40bf-a0b8-7c62-b5a4-bc43a82e3ead_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned - land</link:label>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_label_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_RealEstateAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:to="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTable_terseLabel_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure</link:label>
    <link:label id="lab_ecd_PvpTable_label_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTable" xlink:href="https://xbrl.sec.gov/ecd/2026/ecd-2026.xsd#ecd_PvpTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTable" xlink:to="lab_ecd_PvpTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainLossOnSaleOfDerivatives_019f4593-c55e-7bcd-b2af-8a8f158afcb9_terseLabel_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized gain (loss) on derivative instruments</link:label>
    <link:label id="lab_us-gaap_GainLossOnSaleOfDerivatives_label_en-US" xlink:label="lab_us-gaap_GainLossOnSaleOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale of Derivatives</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainLossOnSaleOfDerivatives" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_GainLossOnSaleOfDerivatives"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfDerivatives" xlink:to="lab_us-gaap_GainLossOnSaleOfDerivatives" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_019e40bf-a171-7859-b326-25fb972bec37_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_DirectorMember_019e40bf-a1fd-779c-be67-3d910fe8714f_terseLabel_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Director</link:label>
    <link:label id="lab_srt_DirectorMember_label_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Director [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_DirectorMember" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_DirectorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_DirectorMember" xlink:to="lab_srt_DirectorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems_019e40bf-a1fd-7f22-81e4-a6afe97b4aeb_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]</link:label>
    <link:label id="lab_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems_label_en-US" xlink:label="lab_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems" xlink:to="lab_us-gaap_AssetsAndAssociatedLiabilitiesOfTransfersAccountedForAsSecuredBorrowingsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_ContinuousOfferingProgramMember_019e40bf-a1fd-766b-aa72-08a173a13b4b_terseLabel_en-US" xlink:label="lab_kref_ContinuousOfferingProgramMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ATM</link:label>
    <link:label id="lab_kref_ContinuousOfferingProgramMember_label_en-US" xlink:label="lab_kref_ContinuousOfferingProgramMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuous Offering Program [Member]</link:label>
    <link:label id="lab_kref_ContinuousOfferingProgramMember_documentation_en-US" xlink:label="lab_kref_ContinuousOfferingProgramMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Continuous Offering Program [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_ContinuousOfferingProgramMember" xlink:href="kref-20260630.xsd#kref_ContinuousOfferingProgramMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_ContinuousOfferingProgramMember" xlink:to="lab_kref_ContinuousOfferingProgramMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LandImprovements_019e40bf-a0b7-7963-8ded-44b8aa84c959_terseLabel_en-US" xlink:label="lab_us-gaap_LandImprovements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned - land improvements</link:label>
    <link:label id="lab_us-gaap_LandImprovements_label_en-US" xlink:label="lab_us-gaap_LandImprovements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land Improvements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LandImprovements" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LandImprovements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandImprovements" xlink:to="lab_us-gaap_LandImprovements" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityOwnershipPercentage_019e40bf-a0b8-7a5b-b39b-5220b9f59679_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage in VIE (as a percent)</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityOwnershipPercentage" xlink:to="lab_us-gaap_VariableInterestEntityOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_019e40bf-a171-7a26-a165-3adabb1a62a4_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConcentrationRiskBenchmarkDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_019e40bf-a171-7d0b-b6e8-9b14e0b3df5d_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_019e40bf-a0b7-7270-98d8-6e6fa5d105da_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine2_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList_019e40bf-a171-7260-a1c9-3641ad54dbd9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList_label_en-US" xlink:label="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList" xlink:to="lab_us-gaap_FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleList" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_019e40bf-a172-7a16-a027-66a6d3154c5d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ScheduleOfStockByClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_KREFLendingVIIMember_019e40bf-a172-7c23-836c-6af5a0596983_terseLabel_en-US" xlink:label="lab_kref_KREFLendingVIIMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KREF Lending VII</link:label>
    <link:label id="lab_kref_KREFLendingVIIMember_label_en-US" xlink:label="lab_kref_KREFLendingVIIMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KREF Lending VII [Member]</link:label>
    <link:label id="lab_kref_KREFLendingVIIMember_documentation_en-US" xlink:label="lab_kref_KREFLendingVIIMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KREF Lending VII</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_KREFLendingVIIMember" xlink:href="kref-20260630.xsd#kref_KREFLendingVIIMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_KREFLendingVIIMember" xlink:to="lab_kref_KREFLendingVIIMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_019e40bf-a0b7-79a1-8f16-bbbe1f164c77_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net Income (Loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_019e40bf-a0b7-7bcc-8313-a1e1fe3987b9_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_JVPartnerMember_019e40bf-a1fd-7320-bb7b-141020ae3077_terseLabel_en-US" xlink:label="lab_kref_JVPartnerMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">JV Partner</link:label>
    <link:label id="lab_kref_JVPartnerMember_label_en-US" xlink:label="lab_kref_JVPartnerMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JV Partner [Member]</link:label>
    <link:label id="lab_kref_JVPartnerMember_documentation_en-US" xlink:label="lab_kref_JVPartnerMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">JV Partner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_JVPartnerMember" xlink:href="kref-20260630.xsd#kref_JVPartnerMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_JVPartnerMember" xlink:to="lab_kref_JVPartnerMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_019e40bf-a1fd-7be4-8e20-de21e70bc66f_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateAbstract_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateAbstract" xlink:href="https://xbrl.fasb.org/srt/2026/elts/srt-2026.xsd#srt_MortgageLoansOnRealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateAbstract" xlink:to="lab_srt_MortgageLoansOnRealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeLiabilities_019e40bf-a1fd-7c1a-80f9-8c2be7f4788c_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency forward contracts</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DerivativeLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_BostonMAMember_019e40bf-a172-72f2-9d40-6e0922a084b9_terseLabel_en-US" xlink:label="lab_kref_BostonMAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Boston, MA</link:label>
    <link:label id="lab_kref_BostonMAMember_label_en-US" xlink:label="lab_kref_BostonMAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Boston, MA [Member]</link:label>
    <link:label id="lab_kref_BostonMAMember_documentation_en-US" xlink:label="lab_kref_BostonMAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Boston, MA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_BostonMAMember" xlink:href="kref-20260630.xsd#kref_BostonMAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_BostonMAMember" xlink:to="lab_kref_BostonMAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_019e40bf-a171-7708-811c-1475eeb7d725_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Currency</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_019e40bf-a0b8-7864-8abb-d468d7643ad8_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2026/dei-2026.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_019e40bf-a171-7e7b-9e8a-7d0cf1a608ea_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested, weighted average grant date fair value (usd per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_CommercialLoansHeldforinvestmentMember_019e40bf-a0b8-7fe0-95f1-e9bccadcff27_terseLabel_en-US" xlink:label="lab_kref_CommercialLoansHeldforinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial real estate loans, held-for-investment, net</link:label>
    <link:label id="lab_kref_CommercialLoansHeldforinvestmentMember_label_en-US" xlink:label="lab_kref_CommercialLoansHeldforinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Loans Held-for-investment [Member]</link:label>
    <link:label id="lab_kref_CommercialLoansHeldforinvestmentMember_documentation_en-US" xlink:label="lab_kref_CommercialLoansHeldforinvestmentMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commercial Loans Held-for-investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_CommercialLoansHeldforinvestmentMember" xlink:href="kref-20260630.xsd#kref_CommercialLoansHeldforinvestmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_CommercialLoansHeldforinvestmentMember" xlink:to="lab_kref_CommercialLoansHeldforinvestmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_019e40bf-a0b8-7c8c-ba3d-afec52a9ec3c_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralizedLoanObligationsMember_019e40bf-a171-7388-a0be-d31c4357a26e_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralizedLoanObligationsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateralized loan obligations</link:label>
    <link:label id="lab_us-gaap_CollateralizedLoanObligationsMember_label_en-US" xlink:label="lab_us-gaap_CollateralizedLoanObligationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralizedLoanObligationsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CollateralizedLoanObligationsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralizedLoanObligationsMember" xlink:to="lab_us-gaap_CollateralizedLoanObligationsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherNonoperatingIncome_019e40bf-a171-7964-b8d8-a8b3aad94e68_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other miscellaneous income</link:label>
    <link:label id="lab_us-gaap_OtherNonoperatingIncome_label_en-US" xlink:label="lab_us-gaap_OtherNonoperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Nonoperating Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OtherNonoperatingIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNonoperatingIncome" xlink:to="lab_us-gaap_OtherNonoperatingIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_019f7128-26ea-73b8-a9ae-07d43cf53a56_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:label id="lab_us-gaap_LossContingencyNatureDomain_label_en-US" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Nature [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LossContingencyNatureDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_LossContingencyNatureDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNatureDomain" xlink:to="lab_us-gaap_LossContingencyNatureDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_kref_HospitalityMember_019e40bf-a171-79d1-956c-2842e40d50ef_terseLabel_en-US" xlink:label="lab_kref_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
    <link:label id="lab_kref_HospitalityMember_label_en-US" xlink:label="lab_kref_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hospitality [Member]</link:label>
    <link:label id="lab_kref_HospitalityMember_documentation_en-US" xlink:label="lab_kref_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_kref_HospitalityMember" xlink:href="kref-20260630.xsd#kref_HospitalityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_kref_HospitalityMember" xlink:to="lab_kref_HospitalityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_019e40bf-a1fd-7332-a973-0f9b888ec7eb_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation and Variable Interest Entities and Noncontrolling Interests</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffMarketLeaseUnfavorable_019e40bf-a0b7-7dc2-9052-0721c4b89998_terseLabel_en-US" xlink:label="lab_us-gaap_OffMarketLeaseUnfavorable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfavorable lease intangibles</link:label>
    <link:label id="lab_us-gaap_OffMarketLeaseUnfavorable_label_en-US" xlink:label="lab_us-gaap_OffMarketLeaseUnfavorable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Market Lease, Unfavorable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffMarketLeaseUnfavorable" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_OffMarketLeaseUnfavorable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffMarketLeaseUnfavorable" xlink:to="lab_us-gaap_OffMarketLeaseUnfavorable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_019e40bf-a1fd-7450-9511-05877400d95c_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Primary beneficiary</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
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