Press release
TPG RE Finance Trust, Inc. Closes $1.1 Billion Commercial Real Estate CLO
NEW YORK--(BUSINESS WIRE)-- TPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) announced today that it closed TRTX 2025-FL7, a $1.1 billion
About this update from Tpg Inc.
[{"type":"text","content":" NEW YORK--(BUSINESS WIRE)--\nTPG RE Finance Trust, Inc. (NYSE: TRTX) (“TRTX” or the “Company”) announced today that it closed TRTX 2025-FL7, a $1.1 billion managed Commercial Real Estate Collateralized Loan Obligation (“CRE CLO”). The Company placed approximately $957.0 million of investment grade securities with institutional investors providing term financing on a non-mark-to-market, non-recourse basis. TRTX 2025-FL7 includes a 30-month reinvestment period, an advance rate of 87.0%, and a weighted average interest rate at issuance of Term SOFR plus 1.67%, before transaction costs. In connection with TRTX 2025-FL7, the Company intends to redeem on November 18, 2025 TRTX 2021-FL4, a CRE CLO with approximately $411.5 million of investment grade securities outstanding. The issuance of TRTX 2025-FL7 and the subsequent redemption of TRTX 2021-FL4 are expected to produce net cash proceeds to the Company of approximately $58.5 million for investment and other corporate purposes.\n\n\nGoldman Sachs & Co. LLC acted as sole structuring agent, co-lead manager and joint bookrunner for TRTX 2025-FL7. Wells Fargo Securities, LLC and BofA Securities, Inc. acted as co-lead managers and joint bookrunners, and BMO Capital Markets Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., M&T Securities, Inc., Raymond James & Associates, Inc., Standard Chartered Bank and TPG Capital BD, LLC acted as co-managers.\n\n\nThis press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\n\n\nABOUT TRTX\n\n\nTRTX is a commercial real estate finance company that originates, acquires, and manages primarily first mortgage loans secured by institutional properties located in primary and select secondary markets in the United States. The Company is externally managed by TPG RE Finance Trust Management, L.P., a part of TPG Real Estate, which is the real estate investment platform of global alternative asset management firm TPG Inc. (NASDAQ: TPG). For more information regarding TRTX, visit https://www.tpgrefinance.com/.\n\n\nFORWARD-LOOKING STATEMENTS\n\n\nThis press release contains “forwar...