other material
confidence high
sentiment positive
materiality 0.75
TRTX reports $1.9B loan originations in 2021; raises common dividend 20% to $0.24/sh
TPG RE Finance Trust, Inc.
- 2021 originations $1.9B; 68.2% multifamily, 20.9% office-life science; Q4 originations $651.6M at 3.8% spread, 72.3% LTV.
- Repayments in 2021 totaled $1.2B UPB; sold two hotel loans at 99.2% of par and a land parcel for $54.4M net proceeds.
- Closed $1.25B CLO at LIBOR+1.60%; redeemed $247.5M Series B preferred; issued $194.4M Series C preferred at 6.25%.
- Declared Q3 and Q4 2021 dividends of $0.24/common share, up 20% from $0.20; non-mark-to-market debt now 70.4%.