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TPG RE Finance Trust Inc
TPG RE Finance Trust, Inc. is a holding company, which engages in the provision of commercial real estate finance services. The company is headquartered in San Francisco, California. The company went IPO on 2017-07-20. The firm is a holding company and conduct its operations primarily through its subsidiary, TPG RE Finance Trust Holdco, LLC (Holdco). The Company’s principal business activity is to directly originate and acquire a diversified portfolio of commercial real estate related assets, consisting primarily of first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets in the United States. Its loans held for investment consist of bridge, light transitional, moderate transitional and construction floating rate loans. These loan categories are utilized by it to classify, define, and assess its loan investments. Its portfolio consists approximately 69 loans, which are held for investment. The company owns approximately 10 acres parcel of undeveloped land near the north end of the Las Vegas Strip (the REO Property).
TPG RE Finance Trust, Inc. is a holding company, which engages in the provision of commercial real estate finance services. The company is headquartered in San Francisco, California. The company went IPO on 2017-07-20. The firm is a holding company and conduct its operations primarily through its subsidiary, TPG RE Finance Trust Holdco, LLC (Holdco). The Company’s principal business activity is to directly originate and acquire a diversified portfolio of commercial real estate related assets, consisting primarily of first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets in the United States. Its loans held for investment consist of bridge, light transitional, moderate transitional and construction floating rate loans. These loan categories are utilized by it to classify, define, and assess its loan investments. Its portfolio consists approximately 69 loans, which are held for investment. The company owns approximately 10 acres parcel of undeveloped land near the north end of the Las Vegas Strip (the REO Property).
Net Income: TRTX reported third-quarter GAAP net income of $18.4 million, or $0.23 per share.
Dividend Coverage: Distributable earnings were $19.9 million ($0.25 per share), covering the $0.24 per share quarterly dividend.
Book Value Growth: Book value per share increased to $11.25 from $11.20, helped by share repurchases and positive operating results.
Robust Origination: Investment activity accelerated, with $279 million in new loans closed in Q3, $197 million more after quarter-end, and over $670 million expected to close in Q4.
Leverage Strategy: Leverage remained flat at 2.6x, but management signaled plans to move toward 3–3.5x as the balance sheet grows.
Asset Quality: The loan portfolio remains 100% performing, with no negative credit migration and a steady risk rating.
Capital Markets: TRTX priced a $1.1 billion CRE CLO (FL7) with 30-month reinvestment capacity, lowering financing costs and boosting liquidity.
