TPG RE Finance CEO Greta Guggenheim stepping down

Industry veteran joined REIT in 2016

National /
Feb.February 25, 2021 01:15 PM
Greta Guggenheim (Getty)

Greta Guggenheim (Getty)

The head of TPG Real Estate Finance Trust is stepping down next month.

Company CEO Greta Guggenheim, who joined the commercial mortgage REIT in 2016, will depart on March 31, Commercial Observer reported.

“I have been thinking about my retirement for some time, actually since late 2019, after having helped build the company and with the intention of leaving it well positioned for future growth,” Guggenheim said during the company’s fourth-quarter earnings call Thursday morning. “This was delayed a bit, but with the strength of our balance sheet restored, our strong liquidity position, and with our experienced management and origination team, I feel now is a good time to move on.”

TPG RE Finance’s president, Matthew Coleman, will take over the day-to-day responsibilities while the company looks for a new CEO.

Guggenheim, who previously co-founded Ladder Capital and served as the company’s chief investment officer, joined TPG Real Estate five years ago to build out the company’s real estate debt platform. She shepherded the REIT through a tumultuous period last year when TPG and other lenders faced significant liquidity issues at the onset of the pandemic.

Starwood Capital Group ended up providing the REIT with $325 million to recapitalize its platform in May. TPG Real Estate was forced to sell off more than $1 billion in assets to meet margin calls. The company also delayed its dividend in March amid the cash crunch.

TPG Real Estate Finance Trust reported a loss of $136.8 million for 2020 on revenue of $177 million. [CO] — Rich Bockmann





    Related Articles

    arrow_forward_ios
    (Image by Wolfgang & Hite via Dezeen)
    Hudson Yards megadevelopment inspires a new line of sex toys
    Hudson Yards megadevelopment inspires a new line of sex toys
    Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
    Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
    Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
    Wendy Silverstein (Credit: Getty Images)
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
    Building Trades Employers’ Association CEO Lou Colletti and City Planning Commissioner Chair Marisa Lago (iStock)
    City bill would force general contractors to get licensed
    City bill would force general contractors to get licensed
    SL Green CEO Marc Holliday (Getty)
    SL Green sees “explosive recovery” for NYC as tenants plan office return
    SL Green sees “explosive recovery” for NYC as tenants plan office return
    Vornado’s Steve Roth and 888 Seventh Ave (Getty, Google Maps, iStock)
    Vornado sues Hongkun USA, seeking $1.1M in rent
    Vornado sues Hongkun USA, seeking $1.1M in rent
    Mauricio Umansky, Rainy Hake Austin and Robert Reffkin (Getty)
    The Agency sues Compass for blocking exec from recruiting former colleagues
    The Agency sues Compass for blocking exec from recruiting former colleagues
    SmartRent's Lucas Haldeman and Fifth Wall's Brendan Wallace (iStock)
    What SmartRent’s $2.2B SPAC means for multifamily
    What SmartRent’s $2.2B SPAC means for multifamily
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...