TPG Real Estate Finance Trust is a commercial real estate finance company that specializes in the origination, acquisition and management of floating-rate first mortgage loans. The firm lends to all asset classes in the top 25 markets, provided that the investment is in a transitional property with some form of value creation, whether it be in re-tenanting, refurbishment or other repositioning. TPG also provides subordinate debt and CLOs.
High-Level Lending Parameters
Loan Amounts: $50 million and up
Loan-to-Value: Up to 80%
Lending Terms: 2 to 5 years
Interest Rate: 400 bps above LIBOR and up
Asset Classes: Condo, hotel, mixed-use, multifamily, office and retail
- Mixed-Use: TPG Real Estate Finance Trust provided an acquisition loan to purchase a mixed-use office and retail property in the New York neighborhood of Soho. The Nightingale Group and WCP Investments borrowed the $143 million loan as a joint venture.
- Hotel: TPG Real Estate Finance Trust acquired two hotels in Miami’s Edgewater neighborhood, including the AC Hotel Miami Midtown and the Hampton Inn & Suites next door. The deal closed at $61 million.
- Student Housing: TPG joined Cardinal Group Companies in buying the Millennium Norman student housing community at the University of Oklahoma. The property was last sold in 2018 for nearly $25.2 million.