TPG RE Finance Trust, Inc. Announces Redemption of 11% Series B Cumulative Redeemable Preferred Stock

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TPG RE Finance Trust (NYSE: TRTX) announced the redemption of all 9,000,000 shares of its 11% Series B Cumulative Redeemable Preferred Stock for approximately $247.5 million. Following this redemption, no dividends will accrue or be declared on these shares, and none remain outstanding. This move is part of the company's broader strategy as a commercial real estate finance firm, focusing on originating and managing mortgage loans secured by institutional properties in key U.S. markets.

TPG RE Finance Trust, Inc. (NYSE: TRTX) (the “Company”) today announced the redemption of its 11% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”). The Company redeemed all 9,000,000 outstanding shares of the Series B Preferred Stock at an aggregate redemption price of approximately $247.5 million. As a result of the redemption, dividends will no longer accrue or be declared on any shares of Series B Preferred Stock, and no shares of Series B Preferred Stock remain outstanding.

About TPG RE Finance Trust, Inc.

TPG RE Finance Trust, Inc. 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 firm TPG.

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FAQ

What is the recent announcement by TPG RE Finance Trust regarding TRTX?

TPG RE Finance Trust announced the redemption of all its 11% Series B Cumulative Redeemable Preferred Stock, totaling 9,000,000 shares for approximately $247.5 million.

How much did TPG RE Finance Trust pay to redeem the Series B Preferred Stock?

The company redeemed the Series B Preferred Stock for an aggregate price of approximately $247.5 million.

What effect does the redemption of Series B Preferred Stock have on dividends for TRTX?

Following the redemption, no dividends will accrue or be declared on the Series B Preferred Stock.

How many shares of Series B Preferred Stock were redeemed by TPG RE Finance Trust?

All 9,000,000 outstanding shares of the Series B Preferred Stock were redeemed.

What type of company is TPG RE Finance Trust?

TPG RE Finance Trust is a commercial real estate finance company focused on originating and managing mortgage loans secured by institutional properties.