Starwood Is in Advanced Financing Discussions With TPG REIT
- REIT favors Starwood’s proposal over those by other firms
- Agreement, if reached, may be announced as soon as this month
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A Starwood Capital Group affiliate is in advanced talks to provide fresh financing to TPG RE Finance Trust Inc., the mortgage real estate investment trust that’s warned it may not have sufficient liquidity to meet obligations and sustain operations.
Starwood’s proposal, details of which couldn’t immediately be learned, is currently favored by the TPG-managed REIT ahead of alternatives presented by firms including Oxford Properties Group Inc. and Neuberger Berman’s Almanac Realty Investors LLC, said people with knowledge of the matter. If a financing agreement is reached, it may be announced as soon as this month, said the people, who asked not to be identified because the talks are private.