TPG RE Finance Trust Announces Pricing of $1.1 Billion CRE CLO

TRTX
October 27, 2025

TPG RE Finance Trust, Inc. (NYSE: TRTX) announced on Monday, October 27, 2025, that it has priced its seventh floating‑rate commercial real‑estate collateralized loan obligation, TRTX 2025‑FL7, at a total value of $1.1 billion. The deal will provide the company with term financing on a non‑mark‑to‑market, non‑recourse basis, extending the maturity of its capital structure and reinforcing its liquidity position.

The pricing package includes approximately $957 million of investment‑grade securities that will be placed with institutional investors. The CLO features a 30‑month reinvestment period, allowing TRTX to refinance the proceeds at a later date while maintaining a stable funding source for its loan portfolio.

By adding this $1.1 billion of structured debt, TRTX expands its untapped financing capacity, reduces its overall cost of funds, and strengthens its ability to deploy capital into new first‑mortgage and senior participation loans. The transaction aligns with the company’s strategy of leveraging its robust, non‑mark‑to‑market liability structure to support continued growth in the commercial real‑estate credit market.

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