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    A.J. (on behalf of Rick Shane) • JPMorgan Chase & Co.

    A.J. (on behalf of Rick Shane)'s questions to TPG RE Finance Trust Inc (TRTX) leadership

    A.J. (on behalf of Rick Shane)'s questions to TPG RE Finance Trust Inc (TRTX) leadership • Q1 2025

    Question

    AJ, on behalf of Rick Shane, asked how the transaction prices for the two REO properties nearing sale compare to their carrying values and whether to anticipate gains or losses. He also inquired if other REO resolutions were close to being finalized.

    Answer

    Executive Robert Foley stated that it was not appropriate to disclose sale prices before the transactions close, but he reminded listeners of the company's track record of generally selling REO at prices above carrying value. Foley also clarified that while there is a plan for all REO assets, no other properties are being actively marketed at this time, with the next 'tranche' to be addressed after the current sales are completed.

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    A.J. (on behalf of Rick Shane)'s questions to TPG RE Finance Trust Inc (TRTX) leadership • Q3 2024

    Question

    A.J., on behalf of Rick Shane from JPMorgan Chase & Co., asked for details on the current origination pipeline and which property types present the most attractive opportunities. He also inquired about the company's share repurchase plans and how management weighs buybacks against new originations.

    Answer

    Executive Doug Bouquard responded that the investment pipeline is primarily focused on multifamily and industrial properties, where TRTX sees strong secular demand and attractive entry points due to lagging real estate values. On capital allocation, he confirmed the share repurchase plan remains in place and is viewed as an attractive use of shareholder capital, which the company actively weighs against the opportunity to deploy capital into new originations.

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