June 1, 2020
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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