New York & Tri-State + Midtown New York + Finance | June 1, 2020

Starwood Capital Will Recapitalize TPG REIT

TPG RE Finance Trust (TRTX) has entered into a definitive investment agreement with an affiliate of Starwood Capital Group for a commitment of up to $325 million in new capital.

Under terms of the agreement, Starwood Capital has made a strategic, non-voting investment in New York City-based TRTX via preferred stock and detachable warrants to purchase its common stock.

“The new capital will provide TRTX with additional liquidity and flexibility to navigate the current economic environment,” said TRTX CEO Greta Guggenheim. “Starwood’s investment is a testament to the strength and quality of TRTX’s business and portfolio.”

At Starwood Capital, managing partner Ethan Bing said, “With this recapitalization and through our new position as a TRTX stakeholder, we firmly believe the company is positioned for sustained long-term success and will generate meaningful value for its shareholders and the partners of our fund moving forward.”

Pictured: TPG RE Finance Trust headquarters in Midtown Manhattan.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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