TPG RE Finance Trust
- Company typePublic
- Founded2014
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
TPG RE Finance Trust firmographics
Firmographics- Name
- TPG RE Finance Trust
- Legal name
- TPG Real Estate Finance Trust, Inc.
- Website
- https://tpgrefinance.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
TPG RE Finance Trust industry classification
Industry- Product category
- Commercial Real Estate Finance
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Mortgage Bankers & Loan Correspondents (6162), Real Estate Investment Trusts (6798), Asset-Backed Securities (6189)
- akta.pro primary industry
- Direct Lending — Venture Debt (FSAHAJAD)
- akta.pro secondary industry
- Mortgage Reinsurance & Risk Sharing (Quota Share/Excess of Loss/CRT) (FSALAJAD)
Keywords
Where TPG RE Finance Trust is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
TPG RE Finance Trust business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Others
Revenue model
- Interest Income from Loan Portfolio: TPG RE Finance Trust generates primary revenue through interest income on its $4.3 billion portfolio of first-mortgage commercial real estate loans. Loans are structured as bridge loans and permanent financing for transitional capital needs, with pricing at Term SOFR plus up to 3.25% (275 basis points on recent Term Loan B). The company maintains a 100% performing loan portfolio with weighted average LTV of 68%.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | First mortgage loans > $50 million at SOFR + 3.25% and up |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
TPG RE Finance Trust product offering
Product offeringCore offering
TPG RE Finance Trust operates as a balance-sheet commercial real estate finance company, originating and managing first-mortgage loans typically exceeding $50 million across primary and select secondary U.S. markets. The company holds a $4.3 billion loan portfolio and generates revenue primarily through interest income on its bridge and permanent commercial real estate loans.
Product overview
TPG RE Finance Trust (TRTX) is a commercial real estate finance company that operates as a balance sheet lender offering a single unified product line focused on originating first-mortgage loans exceeding $50 million in primary and select secondary U.S. markets. The company's core product is its First Mortgage Loans portfolio, supplemented by structured finance products including CRE CLOs (such as TRTX 2025-FL7), debt financing products like Senior Secured Term Loan B and Revolving Credit Facilities, and preferred equity securities (Series C Preferred Stock). The company manages a $4.3 billion portfolio of assets spanning various real estate property types in leading geographic markets, targeting top 25 US markets with leverage up to 75% LTV and pricing at Term SOFR + 3.25% and above.
Differentiator
Problem solved
Functional benefit
Products and services
- First Mortgage Commercial Real Estate Loans
Quantifiable outcome
- 100% performing loan portfolio with no credit migration
- +3 more outcomes
Companies that use TPG RE Finance Trust
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
TPG RE Finance Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
TPG RE Finance Trust partnerships and signals
Strategic signalScale indicators10 records
Recent moves5 records
Expansion highlights5 records
TPG RE Finance Trust competitors and assessment
Company assessmentBroad incumbents
- Chimera Investment Corporation: CIM is a diversified mortgage REIT that invests in residential and commercial mortgage-related securities, broadly comparable to TRTX in mortgage REIT structure and structured product focus.
- AGNC Investment Corp: AGNC is one of the largest mortgage REITs focused on agency MBS, broadly comparable to TRTX in REIT structure, leveraged yield-oriented investment strategy, and capital markets execution.
- New York Mortgage Trust: NYMT is a mortgage REIT investing in residential and CRE debt, broadly comparable to TRTX in mortgage REIT structure and REIT vehicle investing model.
Direct peers
- Apollo Commercial Real Estate Finance: ARI is a mortgage REIT sponsored by Apollo that originates senior commercial real estate loans, directly comparable to TRTX in scale, sponsor backing, and CRE lending focus.
- Starwood Property Trust: STWD is a diversified mortgage REIT sponsored by Starwood Capital that originates senior and CRE loans, making it a directly comparable peer in commercial mortgage origination and structured finance.
- Ares Commercial Real Estate: ACRE is a specialty finance company that originates and invests in commercial real estate loans, directly comparable to TRTX in CRE bridge lending focus and middle-market institutional borrower segment.
- Blackstone Mortgage Trust: BXMT is a publicly traded mortgage REIT sponsored by Blackstone that originates senior loans on institutional commercial real estate — the closest direct competitor to TRTX in product, customer base, and balance-sheet lending model.
- Ladder Capital Corp: LADR is a commercial real estate finance company that originates and services first mortgage loans, directly comparable to TRTX in balance sheet lending model, loan size range, and CRE asset class focus.
- KKR Real Estate Finance Trust: KREF is a publicly traded mortgage REIT sponsored by KKR that originates senior commercial real estate loans, directly comparable to TRTX in sponsor-backed structure, asset class focus, and loan size strategy.
- Ready Capital Corporation: RC is a commercial mortgage REIT that originates small-balance and larger commercial real estate loans, comparable to TRTX in CRE lending strategy and structured finance (CLO) execution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
TPG RE Finance Trust social profiles
Digital presenceTPG RE Finance Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
TPG RE Finance Trust leadership team
Management profileNumber of profiles
Profiles4 records
TPG RE Finance Trust funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TPG RE Finance Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TPG RE Finance Trust
What does TPG RE Finance Trust do?
TPG RE Finance Trust operates as a balance-sheet commercial real estate finance company, originating and managing first-mortgage loans typically exceeding $50 million across primary and select secondary U.S. markets. The company holds a $4.3 billion loan portfolio and generates revenue primarily through interest income on its bridge and permanent commercial real estate loans.
Is TPG RE Finance Trust a public or private company?
TPG RE Finance Trust is a public company. It is classified as public and is currently operating.
When was TPG RE Finance Trust founded?
TPG RE Finance Trust was founded in 2014. It employs 11 to 50 people.
Where is TPG RE Finance Trust based?
TPG RE Finance Trust is headquartered in San Francisco, United States, in the North America region.
How does TPG RE Finance Trust make money?
One revenue line is on record: interest Income from Loan Portfolio.
Who are TPG RE Finance Trust's main competitors?
Broad incumbents on record are Chimera Investment Corporation, AGNC Investment Corp and New York Mortgage Trust. Direct peers are Apollo Commercial Real Estate Finance, Starwood Property Trust, Ares Commercial Real Estate, Blackstone Mortgage Trust, Ladder Capital Corp, KKR Real Estate Finance Trust and Ready Capital Corporation.
Does TPG RE Finance Trust have an API?
No public API is recorded for TPG RE Finance Trust.
What industry is TPG RE Finance Trust in?
TPG RE Finance Trust's product category is Commercial Real Estate Finance. Its primary akta.pro industry code is FSAHAJAD, Direct Lending — Venture Debt, with a secondary code of FSALAJAD, Mortgage Reinsurance & Risk Sharing (Quota Share/Excess of Loss/CRT). Its NAICS code is 525 and its SIC code is 6162.