TPG RE Finance Trust, Inc. filings document formal disclosures for a NYSE-listed commercial real estate finance company with common stock and 6.25% Series C Cumulative Redeemable Preferred Stock registered under Section 12(b). Its 8-K filings report operating results and supplemental financial information, Regulation FD investor presentations, collateralized loan obligation financing and board appointments.
Definitive proxy materials cover governance and shareholder voting matters. The filing record also describes capital structure, secured financing arrangements, portfolio metrics, liquidity and disclosures tied to the company’s strategy of holding first mortgage loans on institutional U.S. commercial real estate.
TPG RE Finance Trust, Inc. entered into a new senior secured credit agreement providing a $400 million Term Loan B and a $100 million revolving credit facility. The company plans to use the proceeds to repay existing debt, help redeem its TRTX 2022-FL5 collateralized loan obligation, and for general corporate purposes.
The Term Loan B matures on May 14, 2033 and bears interest at Term SOFR plus 2.75% (or a base rate plus 1.75%), with quarterly principal amortization of 0.25% of the original amount starting in late 2026. The revolving facility matures on May 14, 2031 and bears interest at Term SOFR plus 2.00% (or a base rate plus 1.00%) without scheduled amortization. Obligations are guaranteed by certain subsidiaries and secured by substantially all of the company’s and certain subsidiaries’ assets subject to related liens.
TPG RE Finance Trust director Michael Gillmore reported an equity compensation award linked to dividends. On April 24, 2026, he acquired 1,195 shares of common stock at $7.61 per share through deferred stock units issued in lieu of cash dividends on existing DSUs. Following this grant, he directly holds 97,590 common shares and indirectly holds 500 additional shares through a personal trust.
Smith Michael Bradley reported acquisition or exercise transactions in this Form 4 filing.
TPG RE Finance Trust director Michael Bradley Smith received 1,195 shares of Common Stock through a grant of deferred stock units. These units were issued in lieu of cash dividends on DSUs he already owned, using a reference price of $7.61 per share.
After this award, Smith directly holds 97,590 shares of TPG RE Finance Trust, Inc. common stock. The transaction reflects routine equity compensation rather than an open-market purchase or sale.
TPG RE Finance Trust director Wendy Silverstein received additional equity-based compensation rather than making an open-market trade. She acquired 1,195 shares of Common Stock on April 24, 2026, representing stock issued under deferred stock units in lieu of cash dividends on existing DSUs.
The shares were valued at $7.61 per share for reporting purposes and increase her directly held position to 97,590 shares of Common Stock. This is a routine, compensation-related grant tied to the company’s $0.24 per share Common Stock dividend paid on April 24, 2026.
TPG RE Finance Trust director Todd Schuster reported a compensation-related stock award. He acquired 164 shares of common stock at $7.61 per share, increasing his direct holdings to 63,826 shares. The award represents deferred stock units issued in lieu of cash dividends on existing deferred stock units tied to a $0.24 per-share common stock dividend paid on April 24, 2026.
TPG RE Finance Trust, Inc. reported solid first-quarter 2026 results, with GAAP net income attributable to common stockholders of $15.2 million, or $0.19 per diluted share, and Distributable Earnings of $19.5 million, or $0.25 per diluted share, comfortably covering its $0.24 common dividend. Book value per common share was $11.06 as of March 31, 2026, essentially flat versus $11.07 at year-end 2025.
The company emphasized a 100% performing loan portfolio totaling $4.3 billion of commitments and reduced office loan exposure to less than 5%, with nearly 70% of loans originated after January 2023 and backed mainly by multifamily and industrial properties. Weighted average all-in yield was 7.10% and weighted average loan-to-value was 65.5%.
Liquidity stood at $172.8 million, including $77.0 million of investable cash and $39.7 million of undrawn secured capacity, while non-mark-to-market borrowings represented 77.9% of total borrowings and the Debt-to-Equity Ratio was 3.1x. The allowance for credit losses was $77.1 million, or 179 basis points of total loan commitments. The company repurchased 556,592 shares for $4.5 million in the quarter and a further 493,000 shares for $4.0 million after quarter-end, and originated new first mortgage loans with $148.4 million of commitments while receiving $123.6 million of repayments.
TPG RE Finance Trust reported stronger results for the quarter ended March 31, 2026. Net income rose to $18.9 million from $13.7 million a year earlier, and diluted earnings per common share increased to $0.19 from $0.12, mainly on higher net interest income and a small credit loss benefit.
Total assets were $4.47 billion, including $4.13 billion of loans held for investment and $223.7 million of real estate owned, while stockholders’ equity stood at $1.06 billion. The allowance for credit losses on loans and unfunded commitments was $77.1 million, slightly lower than year-end as one loan repaid and portfolio performance improved modestly.
Operating cash flow was $24.6 million, more than covering common dividends of $0.24 per share and preferred dividends. The loan book remained almost entirely floating rate with a weighted average all‑in yield of 7.1% and a weighted average internal risk rating of 3.0, indicating a broadly medium‑risk profile with one non‑accrual loan of $42.0 million.
Gratia Capital, LLC and Steve Pei report holding 2,901,577 shares of TPG RE Finance Trust common stock, representing 3.7% of the outstanding shares. Gratia, an investment adviser, and Pei acquired the stake for investment purposes using client working capital and Pei’s and affiliates’ personal funds.
They believe the company’s share price does not reflect its short- and long-term prospects and plan positive, supportive discussions with management on dividend increases, broader strategic initiatives, and positioning within the mortgage REIT sector. As of April 17, 2026, the 3.7% interest is based on 78,354,052 shares outstanding.
TPG RE Finance Trust, Inc. is asking stockholders to vote at its 2026 virtual annual meeting on May 19, 2026 at 11:30 a.m. Eastern Time. Holders of common stock at the March 30, 2026 record date, when 77,519,744 shares were outstanding, may vote.
Stockholders will elect eight directors for terms ending at the 2027 meeting, ratify Deloitte & Touche LLP as independent auditor for 2026, and cast a non-binding advisory vote on executive compensation. The board currently has a majority of independent directors and uses separate chair and CEO roles with a designated lead independent director.
The company is externally managed under a Management Agreement with its manager, paying a base management fee of the greater of $250,000 per year or 1.50% of equity, which totaled $20.9 million in 2025. Named executive officers are employed by TPG affiliates and primarily receive equity-based compensation; in December 2025 they were granted restricted stock units that generally vest over four years.