Deutsche Bank loans swell property balance for TPG

Texas-based private equity firm TPG continued its rapid expansion into real estate last month by acquiring 75% of a $2.5bn portfolio of US real estate loans from Deutsche Bank’s Special Situations Group. The deal involves higher-yielding debt on transitional assets, along with an 11-strong DB origination and risk management team. The firm struck the deal through a new REIT called TPG Real Estate Finance Trust (TRT) and said it had raised $750m from institutional investors to originate new loans. DB retains a 25% interest.

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