TPG RE Finance Trust, Inc.
TPG RE Finance Trust, Inc. (NYSE: TPGRE) is a commercial real estate finance company that originates and acquires a diversified portfolio of commercial real estate-related credit assets. The company's website is www.tpgrefinance.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What TPG RE Finance Trust, Inc. does
In the company’s own words
TPG RE Finance Trust, Inc. (NYSE: TPGRE) is a commercial real estate finance company that originates and acquires a diversified portfolio of commercial real estate-related credit assets. The company's website is www.tpgrefinance.com.
The company operates as a real estate investment trust and is externally managed by TPG RE Finance Trust Management, L.P., an affiliate of TPG Inc., a leading global alternative asset manager with $303 billion in assets under management as of December 31, 2025. TPG's Real Estate platform, which includes the company, manages more than $38.2 billion in assets and comprises 134 investment professionals across offices in New York, San Francisco, London, and representative offices in Atlanta and Chicago.
TPG RE Finance Trust's principal business activity focuses on directly originating and acquiring first mortgage loans and senior participation interests in first mortgage loans secured by institutional-quality properties in primary and select secondary markets throughout the United States. The company's investment portfolio consists primarily of floating-rate commercial mortgage loans with credit spreads of 250 to 400 basis points over the benchmark interest rate. As of December 31, 2025, the company's balance sheet loan portfolio comprised 50 loans totaling $4.3 billion in commitments with an unpaid principal balance of $4.1 billion and a weighted average all-in yield of 7.1 percent.
The company's target properties span multiple sectors including multifamily and housing, industrial, hospitality, office, and mixed-use real estate. The portfolio is geographically diversified across major metropolitan statistical areas, with significant concentrations in New York City, Los Angeles, San Francisco, Phoenix, and Dallas. The company finances its investment portfolio through secured credit agreements, revolving credit facilities, mortgage loans, asset-specific financing arrangements, and collateralized loan obligations.
The company does not employ any staff directly and operates as a holding company through wholly owned subsidiaries. The company maintains its qualification as a REIT for U.S. federal income tax purposes and operates to maintain an exclusion or exemption from registration under the Investment Company Act of 1940.
Company details
- Sector
- Real Estate
- Industry
- REITs
- Headquarters
- SAN FRANCISCO, CA
- Fiscal year end
- December
- CIK
- 1630472
- SIC
- 6798
Financial performance, year by year
Fiscal 2017–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns TPG RE Finance Trust, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · TPG RE Finance Trust, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Could not be determined for this company: bond issues.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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