Strong Investment Activity
TRTX closed $279 million of new investments during the third quarter and another $197 million subsequent to quarter end, with over $670 million of loans expected to close in the fourth quarter. Year-to-date closed loans and expected Q4 loans total over $1.8 billion.
Loan Portfolio Growth
The loan portfolio grew by $1.2 billion or 12% year-over-year, with a focus on multifamily and industrial assets representing approximately 91% of the $1.1 billion of closed and in-process investments.
Stable Credit Profile and Liquidity
TRTX maintained a stable credit profile with a 100% performing loan portfolio and no negative credit migration. The company ended the quarter with near-term liquidity of $216.4 million.
Capital Structure Optimization
The company announced the pricing of TRTX 2025 FL7, a $1.1 billion managed CRE CLO, providing non-mark-to-market, nonrecourse term financing with a 30-month reinvestment period.