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Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Loans pledged as collateral [1] $ 3,409,684 $ 4,781,402
Common stock, par value (in USD per share) $ 0.001 $ 0.001
Common stock, authorized shares 302,500,000 302,500,000
Common stock, shares issued 77,868,565 77,410,282
Common stock, shares outstanding 77,868,565 77,410,282
Total assets [1] $ 4,214,312 $ 5,545,138
Total liabilities [1] 3,089,527 4,223,142
Expected loss reserve for unfunded loan commitments 2,679 17,314
Variable Interest Entity, Primary Beneficiary    
Total assets 2,601,084 3,267,374
Total liabilities $ 1,927,556 $ 2,467,254
Series A Preferred Stock    
Preferred stock, par value (in USD per share) $ 0.001 $ 0.001
Preferred stock, authorized shares 100,000,000 100,000,000
Preferred stock, shares issued 125 125
Preferred stock, shares outstanding 125 125
Preferred stock, aggregate liquidation preference $ 125 $ 125
Series C Preferred Stock    
Preferred stock, par value (in USD per share) $ 0.001 $ 0.001
Preferred stock, authorized shares 8,050,000 8,050,000
Preferred stock, shares issued 8,050,000 8,050,000
Preferred stock, shares outstanding 8,050,000 8,050,000
Preferred stock, aggregate liquidation preference $ 201,250 $ 201,250
Asset pledged as collateral    
Loans pledged as collateral $ 1,070,629 $ 1,538,859
[1] The Company’s consolidated Total Assets and Total Liabilities as of December 31, 2023 include assets and liabilities of variable interest entities (“VIEs”) of $2.6 billion and $1.9 billion, respectively. The Company’s consolidated Total Assets and Total Liabilities as of December 31, 2022 include assets and liabilities of VIEs of $3.3 billion and $2.5 billion, respectively. These assets can be used only to satisfy obligations of the VIEs, and creditors of the VIEs have recourse only to these assets, and not to TPG RE Finance Trust, Inc. See Note 5 to the Consolidated Financial Statements for details.
(2)Includes $2.7 million and $17.3 million of reserve for expected losses for unfunded loan commitments as of December 31, 2023 and December 31, 2022, respectively.