TRTX Q2 2026 GAAP EPS $0.12, Distributable EPS $0.23; originations $466M, liquidity $488M

TPG RE Finance Trust, Inc.

GAAP net income $9.4M ($0.12/diluted share); Distributable Earnings $17.6M ($0.23/share) covering YTD dividend.
Originated $466M in new loans (weighted avg spread SOFR+2.79%, as-is LTV 62.9%); received $274M repayments.
Book value per share $10.95 (down $0.11 from Q1); common dividend $0.24/share declared.
Closed $400M Term Loan B (2033, SOFR+275bps) and $100M Revolver; upsized Wells Fargo to $850M, added $500M Citi.
Non-mark-to-market financing 85.2% of total borrowings; liquidity $488.2M.

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