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TPG RE Finance Trust, Inc. Announces Pricing of $1.0 Billion Commercial Real Estate CLO

  • TPG RE Finance Trust, Inc. priced TRTX 2026-FL8, a $1.0 billion managed Commercial Real Estate Collateralized Loan Obligation.
  • Approximately $820.0 million of investment grade securities are expected to be placed with institutional investors.
  • The financing provides TRTX with term funding on a non-mark-to-market, non-recourse basis.
  • The transaction includes a 30-month reinvestment period with a weighted average interest rate at issuance of Term SOFR plus 1.43%, before transaction costs.
  • TRTX 2026-FL8 is expected to close on or around October 2, 2026, subject to customary closing conditions.
  • Wells Fargo Securities, LLC serves as sole structuring agent, co-lead manager, and joint bookrunner.
  • Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. act as co-lead managers and joint bookrunners.
  • BofA Securities, Inc., Morgan Stanley & Co. LLC, SMBC Nikko Securities America, Inc., HSBC Securities (USA) Inc., Scotia Capital (USA) Inc., Raymond James & Associates, Inc., and TPG Capital BD, LLC act as co-managers.
  • TRTX originates, acquires, and manages primarily first mortgage loans secured by institutional properties in primary and select secondary U.S. markets.
  • The company is externally managed by TPG RE Finance Trust Management, L.P., part of TPG Real Estate, a platform of TPG Inc.