Deals
TPG Mortgage REIT Fields Proposals from Neuberger, Blackstone
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TPG RE Finance Trust Inc., grappling with tumult in the U.S. mortgage market from the coronavirus pandemic, is fielding financing alternatives from prospective investors including a unit of Neuberger Berman, a group led by Mack Real Estate Credit Strategies LP and an arm of Blackstone Group Inc.
The proposal by Neuberger’s Almanac Realty Investors LLC involves the purchase of convertible debt with attached equity warrants, while the Mack offer centers on a roughly $300 million investment in the mortgage real estate investment trust’s common stock, according to people with knowledge of the matter.