Ropes & Gray Represents TPG RE Finance Trust in $1.25B CRE CLO Offering

In The News
March 31, 2021

Ropes & Gray represented TPG RE Finance Trust, Inc. (NYSE: TRTX), a publicly-traded mortgage REIT managed by TPG, in transferring various commercial real estate loans in connection with a $1.25 billion commercial real estate collateralized loan obligation. This offering marked the fourth CRE CLO sponsored by TRTX. Our representation included re-pledging participation interests in the loans to be financed on TRTX’s various commercial real estate loan credit and repurchase facilities.   

Wells Fargo Securities, LLC acted as structuring agent and co-lead manager along with Barclays Capital Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as other co-lead managers.   

The Ropes & Gray team was led by real estate partner Dan Stanco (New York) and included real estate associates Asher Sendrovic (New York) and Meredith Sterritt (Boston).