Market Overview

TPG RE Finance Trust, Inc. Announces Public Offering Of Common Stock

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TPG RE Finance Trust, Inc. (NYSE:TRTX) ("TRTX" or the "Company") today
announced that it has commenced an underwritten public offering of
7,000,000 shares of its common stock. The Company expects to grant the
underwriters a 30-day option to purchase up to an additional 1,050,000
of shares of common stock.

The Company intends to use the net proceeds from the offering to
originate or acquire loans secured by institutional quality commercial
properties, primarily first mortgage loans, and other investments
involving commercial real estate that are consistent with the Company's
investment strategy. The Company may also use a portion of the net
proceeds for working capital and other general corporate purposes, which
may include, among others, the repayment of outstanding indebtedness
under the Company's secured revolving repurchase agreements and senior
secured credit facility with Bank of America, N.A.

Citigroup and Goldman Sachs & Co. LLC are acting as joint book-running
managers for the offering.

All shares of common stock will be offered under the Company's existing
shelf registration statement filed with the Securities and Exchange
Commission. The offering of these shares will be made only by means of a
prospectus and a related prospectus supplement, copies of which may be
obtained by contacting: Citigroup, c/o Broadridge Financial Solutions,
1155 Long Island Avenue, Edgewood, NY 11717 or by calling (800)
831-9146; and Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200
West Street, New York, NY 10282, telephone: 1 (866) 471-2526, facsimile:
(212) 902-9316, e-mail: Prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

ABOUT TRTX

TPG RE Finance Trust, Inc. is a commercial real estate finance company
that focuses primarily on originating, acquiring, and managing first
mortgage loans and other commercial real estate‐related debt instruments
secured by institutional properties located in primary and select
secondary markets in the United States. The Company is externally
managed by TPG RE Finance Trust Management, L.P., a part of TPG Real
Estate, which is the real estate investment platform of TPG.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements involve numerous risks and uncertainties. The
Company's actual results may differ from the Company's beliefs,
expectations, estimates and projections and, consequently, you should
not rely on these forward-looking statements as predictions of future
events. Forward-looking statements are generally identifiable by use of
forward-looking terminology such as "may," "will," "should,"
"potential," "intend," "expect," "endeavor," "seek," "anticipate,"
"estimate," "believe," "could," "project," "predict," "continue" or
other similar words or expressions. Forward-looking statements are based
on certain assumptions, discuss future expectations, describe existing
or future plans and strategies, contain projections of results of
operations, liquidity and/or financial condition or state other
forward-looking information. The ability of TRTX to predict future
events or conditions or their impact or the actual effect of existing or
future plans or strategies is inherently uncertain. Although the Company
believes that such forward-looking statements are based on reasonable
assumptions, actual results and performance in the future could differ
materially from those set forth in or implied by such forward-looking
statements. No assurance can be given that the offering discussed above
will be consummated, or that the net proceeds of the offering will be
used as indicated. Consummation of the offering and the application of
the net proceeds of the offering are subject to numerous possible
events, factors and conditions, many of which are beyond the control of
the Company and not all of which are known to it, including, without
limitation, market conditions and those described under the heading
"Risk Factors" in the prospectus supplement relating to the offering and
in the Company's Annual Report on Form 10-K for the year ended December
31, 2017, which can be accessed at the Securities and Exchange
Commission's website at www.sec.gov.
All forward-looking statements speak only as of the date on which they
are made. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect the Company's views only as of
the date of this press release. Except as required by law, neither the
Company nor any other person assumes responsibility for the accuracy and
completeness of the forward-looking statements appearing in this press
release. The Company does not undertake any obligation to update any
forward-looking statements contained in this press release as a result
of new information, future events or otherwise.

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