2024 Q3 Form 10-Q Financial Statement

#000163047224000025 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $88.72M $89.89M
YoY Change -9.01% -12.9%
Cost Of Revenue $7.382M $7.268M
YoY Change -1.57% -6.95%
Gross Profit $81.34M $82.62M
YoY Change -9.73% -13.39%
Gross Profit Margin 91.68% 91.91%
Selling, General & Admin $2.204M $2.874M
YoY Change 16.0% -6.51%
% of Gross Profit 2.71% 3.48%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.400M $1.400M
YoY Change 250.0% 600.0%
% of Gross Profit 1.72% 1.69%
Operating Expenses $10.80M $11.76M
YoY Change 120.49% 138.85%
Operating Profit $70.53M $70.87M
YoY Change -17.22% -21.67%
Interest Expense -$48.57M -$50.59M
YoY Change -168.9% -28.32%
% of Operating Profit -68.87% -71.39%
Other Income/Expense, Net $18.19M $19.02M
YoY Change 46.44% 49.41%
Pretax Income $22.26M $24.82M
YoY Change -136.37% -135.88%
Income Tax $66.00K $100.0K
% Of Pretax Income 0.3% 0.4%
Net Earnings $22.19M $24.72M
YoY Change -136.26% -133.98%
Net Earnings / Revenue 25.02% 27.49%
Basic Earnings Per Share $0.23 $0.26
Diluted Earnings Per Share $0.23 $0.26
COMMON SHARES
Basic Shares Outstanding 80.93M shares 77.87M shares
Diluted Shares Outstanding 81.37M shares 80.91M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $226.3M $259.2M
YoY Change -25.13% -15.68%
Cash & Equivalents $226.3M $259.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $397.0K $60.62M
Other Receivables $30.86M $27.81M
Total Short-Term Assets $257.6M $347.7M
YoY Change -24.88% -18.34%
LONG-TERM ASSETS
Property, Plant & Equipment $168.9M $169.1M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $482.0K $500.0K
YoY Change 382.0% 106.61%
Total Long-Term Assets $3.404B $3.349B
YoY Change -17.27% -26.53%
TOTAL ASSETS
Total Short-Term Assets $257.6M $347.7M
Total Long-Term Assets $3.404B $3.349B
Total Assets $3.662B $3.696B
YoY Change -17.85% -25.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.107M $5.044M
YoY Change -7.15% -15.21%
Accrued Expenses $22.58M $22.53M
YoY Change -53.92% -49.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.41M $47.37M
YoY Change -35.41% -31.86%
LONG-TERM LIABILITIES
Long-Term Debt $2.488B $2.524B
YoY Change -23.32% -31.67%
Other Long-Term Liabilities $1.180M $1.333M
YoY Change 18.0% -13.83%
Total Long-Term Liabilities $2.490B $2.525B
YoY Change -23.31% -31.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.41M $47.37M
Total Long-Term Liabilities $2.490B $2.525B
Total Liabilities $2.537B $2.572B
YoY Change -23.58% -31.66%
SHAREHOLDERS EQUITY
Retained Earnings -$604.8M -$604.1M
YoY Change 3.5% 20.56%
Common Stock $81.00K $81.00K
YoY Change 5.19% 5.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.125B $1.124B
YoY Change
Total Liabilities & Shareholders Equity $3.662B $3.696B
YoY Change -17.85% -25.83%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $22.19M $24.72M
YoY Change -136.26% -133.98%
Depreciation, Depletion And Amortization $1.400M $1.400M
YoY Change 250.0% 600.0%
Cash From Operating Activities $23.71M $25.55M
YoY Change -9.16% 249.42%
INVESTING ACTIVITIES
Capital Expenditures $448.0K $1.567M
YoY Change -80.52%
Acquisitions
YoY Change
Other Investing Activities $3.743M $191.0M
YoY Change -99.16% -60.17%
Cash From Investing Activities $3.295M $189.5M
YoY Change -99.25% -60.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.94M -158.6M
YoY Change -87.32% -53.53%
NET CHANGE
Cash From Operating Activities 23.71M 25.55M
Cash From Investing Activities 3.295M 189.5M
Cash From Financing Activities -59.94M -158.6M
Net Change In Cash -32.94M 56.37M
YoY Change 509.94% -61.26%
FREE CASH FLOW
Cash From Operating Activities $23.71M $25.55M
Capital Expenditures $448.0K $1.567M
Free Cash Flow $23.26M $23.99M
YoY Change -2.26%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2023Q4 trtx Number Of Loans
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CY2023Q4 trtx Percentage Of Loans And Leases Receivable
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CY2023Q4 trtx Loan Commitment Principal Amount
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CY2023Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
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CY2023 srt Financing Receivable Before Allowance For Credit Loss Average Yield
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CY2023 us-gaap Financing Receivable Modified Weighted Average Term Increase From Modification
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us-gaap Increase Decrease In Interest Payable Net
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us-gaap Increase Decrease In Due To Affiliates
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us-gaap Increase Decrease In Due To Affiliates
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us-gaap Increase Decrease In Deferred Revenue
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CY2024Q2 us-gaap Common Stock Shares Outstanding
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CY2023Q4 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss Statement Of Financial Position Extensible List
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CY2024Q2 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss Statement Of Financial Position Extensible List
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us-gaap Operating Lease Income Comprehensive Income Extensible List
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CY2024Q2 us-gaap Operating Lease Income Comprehensive Income Extensible List
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us-gaap Operating Lease Income Comprehensive Income Extensible List
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us-gaap Other Depreciation And Amortization
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trtx Accrued Paid In Kind Interest
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trtx Accrued Paid In Kind Interest
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Real Estate Held For Investment
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us-gaap Payments To Acquire Real Estate Held For Investment
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us-gaap Proceeds From Sale Of Loans Held For Investment
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us-gaap Proceeds From Sale Of Loans Held For Investment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of First Mortgage Bond
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us-gaap Repayments Of First Mortgage Bond
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us-gaap Proceeds From Issuance Of Other Long Term Debt
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us-gaap Proceeds From Issuance Of Other Long Term Debt
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trtx Payment For Proceeds From Financing Costs
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Net Cash Provided By Used In Financing Activities
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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trtx Collateralized Loan Obligation Proceeds Held At Trustee
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trtx Collateralized Loan Obligation Proceeds Held At Trustee
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CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
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trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
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trtx Principal Repayments Of Loans Held For Investment Held By Servicer Trustee Net
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us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
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us-gaap Transfer To Other Real Estate
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us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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trtx Stock Issuance Costs Incurred But Not Yet Paid
StockIssuanceCostsIncurredButNotYetPaid
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trtx Stock Issuance Costs Incurred But Not Yet Paid
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CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
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us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
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CY2023Q2 trtx Management Fees And Incentive Management Fees Incurred
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CY2024Q2 trtx Management Fees And Incentive Management Fees Paid
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us-gaap Use Of Estimates
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<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with GAAP requires estimates of assets, liabilities, revenues, expenses and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Actual results could differ from management’s estimates, and such differences could be material. Significant estimates made in the consolidated financial statements include, but are not limited to, the adequacy of our allowance for credit losses and the valuation inputs related thereto. Actual amounts and values as of the balance sheet dates may be materially different from the amounts and values reported due to the inherent uncertainty in the estimation process and the limited availability of observable pricing inputs due to the nature of transitional mortgage loans. Also, future amounts and values could differ materially from those estimates due to changes in values and circumstances after the balance sheet date and the limited availability of observable prices.</span></div>
us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Interest income on loans is accrued using the interest method based on the contractual terms of the loan, adjusted for expected or realized credit losses, if any. The objective of the interest method is to arrive at periodic interest income, including recognition of fees and costs, at a constant effective yield. Premiums, discounts, and origination fees are amortized or accreted into interest income over the lives of the loans using the interest method, or on a straight-line basis when it approximates the interest method. Extension and modification fees are accreted into interest income on a straight-line basis, when it approximates the interest method, over the related extension or modification period. Exit fees are accreted into interest income on a straight-line basis, when it approximates the interest method, over the lives of the loans to which they relate unless they can be waived by the Company or a co-lender in connection with a loan refinancing, or if timely collection of principal and interest is doubtful. Prepayment penalties from borrowers are recognized as interest income when received. Certain of the Company’s loan investments have in the past, and may in the future, provide for additional interest based on the borrower’s operating cash flow or appreciation in the value of the underlying collateral. Such amounts are considered contingent interest and are reflected as interest income only upon certainty of collection. Certain of the Company’s loan investments have in the past, and may in the future, provide for the accrual of interest (in part, or in whole) instead of its current payment in cash, with the accrued interest (“PIK interest”) added to the unpaid principal balance of the loan. Such PIK interest is recognized currently as interest income unless the Company concludes eventual collection is unlikely, in which case the PIK interest is written off.</span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All interest accrued but not received for loans placed on non-accrual status is subtracted from interest income at the time the loan is placed on non-accrual status. Based on the Company’s judgment as to the collectability of principal, a loan on non-accrual status is either accounted for on a cash basis, where interest income is recognized only upon receipt of cash for interest payments, or on a cost-recovery basis, where all cash receipts reduce the loan’s carrying value, and interest income is only recorded when such carrying value has been fully recovered.</span></div>
trtx Percentage Of Senior Mortgage Loan Transferred To Third Party
PercentageOfSeniorMortgageLoanTransferredToThirdParty
1
CY2024Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
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CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
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CY2024Q2 trtx Maximum Insured Amount Of Each Cash Account
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250000 usd
CY2023Q4 trtx Maximum Insured Amount Of Each Cash Account
MaximumInsuredAmountOfEachCashAccount
250000 usd
CY2023Q4 us-gaap Cash
Cash
15000000.0 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
500000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
259200000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
600000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
206400000 usd
trtx Account Receivable Period Before Remittance
AccountReceivablePeriodBeforeRemittance
P30D
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0 shares
CY2024Q2 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
17500000 usd
CY2023Q4 us-gaap Financing Receivable Accrued Interest After Allowance For Credit Loss
FinancingReceivableAccruedInterestAfterAllowanceForCreditLoss
20200000 usd
trtx Total Loan Repayments
TotalLoanRepayments
413900000 usd
CY2024Q2 trtx Number Of Loans
NumberOfLoans
48 loan
CY2024Q2 trtx Percentage Of Loans And Leases Receivable
PercentageOfLoansAndLeasesReceivable
0.997
CY2024Q2 trtx Loan Commitment Principal Amount
LoanCommitmentPrincipalAmount
3345498000 usd
CY2024Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
3205936000 usd
CY2024Q2 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
139596000 usd
CY2023Q4 trtx Unfunded Commitments Related To Loans Receivable
UnfundedCommitmentsRelatedToLoansReceivable
183293000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
3201203000 usd
CY2024Q2 trtx Financing Receivable Weighted Average Credit Spread
FinancingReceivableWeightedAverageCreditSpread
0.037
CY2023Q4 trtx Financing Receivable Weighted Average Credit Spread
FinancingReceivableWeightedAverageCreditSpread
0.037
srt Financing Receivable Before Allowance For Credit Loss Average Yield
FinancingReceivableBeforeAllowanceForCreditLossAverageYield
0.093
us-gaap Financing Receivable Modified Weighted Average Term Increase From Modification
FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification
P2Y4M24D
us-gaap Paid In Kind Interest
PaidInKindInterest
30000.00 usd
CY2023 us-gaap Paid In Kind Interest
PaidInKindInterest
1200000 usd
CY2024Q2 trtx Percentage Of Loans Subject To Yield Maintenance Or Other Prepayment Restrictions
PercentageOfLoansSubjectToYieldMaintenanceOrOtherPrepaymentRestrictions
0.071
CY2024Q2 trtx Percentage Of Loans Open To Repayment By Borrower Without Penalty
PercentageOfLoansOpenToRepaymentByBorrowerWithoutPenalty
0.929
CY2023Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
3409684000 usd
us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
105804000 usd
us-gaap Mortgage Loans On Real Estate Other Additions
MortgageLoansOnRealEstateOtherAdditions
28787000 usd
trtx Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Accrued Paid In Kind Interest
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateAccruedPaidInKindInterest
34000 usd
us-gaap Mortgage Loans On Real Estate Amortization Of Premium
MortgageLoansOnRealEstateAmortizationOfPremium
3706000 usd
srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
412732000 usd
trtx Mortgage Loans On Real Estate Collection Of Accrued Paid In Kind Interest
MortgageLoansOnRealEstateCollectionOfAccruedPaidInKindInterest
1172000 usd
trtx Sec Schedule1229 Real Estate Companies Investment In Mortgage Loans On Real Estate Credit Loss Expense Reversal
SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateCreditLossExpenseReversal
-244000 usd
CY2024Q2 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
3134355000 usd
CY2024Q2 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-4200000 usd
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
-5200000 usd
CY2024Q2 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
-500000 usd
CY2023Q4 us-gaap Financing Receivable Unamortized Purchase Premium Discount
FinancingReceivableUnamortizedPurchasePremiumDiscount
-2100000 usd
CY2024Q2 trtx Weighted Average Risk Rating
WeightedAverageRiskRating
3.0 decimal
CY2024Q2 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
66848000 usd
CY2024Q2 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
2742000 usd
CY2024Q2 trtx Financing Receivable Allowance For Credit Loss Excluding Accrued Interest And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAndOffBalanceSheetCreditLossLiability
69590000 usd
CY2024Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
3205936000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
67092000 usd
CY2023Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
2679000 usd
CY2023Q4 trtx Financing Receivable Allowance For Credit Loss Excluding Accrued Interest And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAndOffBalanceSheetCreditLossLiability
69771000 usd
CY2023Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
3484052000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
-4500000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
1500000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Change In Method Credit Loss Expense Reversal
FinancingReceivableExcludingAccruedInterestChangeInMethodCreditLossExpenseReversal
-3000000.0 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
-200000 usd
CY2024Q2 trtx Financing Receivable Allowance For Credit Loss Excluding Accrued Interest And Off Balance Sheet Credit Loss Liability
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterestAndOffBalanceSheetCreditLossLiability
69600000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
2700000 usd
trtx Financing Receivable Allowance For Credit Loss Loan Originated
FinancingReceivableAllowanceForCreditLossLoanOriginated
1000000.0 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Macroeconomic Events
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromMacroeconomicEvents
1600000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Period Increase Decrease
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease
55900000 usd
CY2023Q2 trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Macroeconomic Events
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromMacroeconomicEvents
23400000 usd
CY2023Q2 trtx Financing Receivable Allowance For Credit Loss Increase Decrease Individually Asses Loans As A Result Of Local Market Fundamentals
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIndividuallyAssesLoansAsAResultOfLocalMarketFundamentals
10800000 usd
CY2023Q2 trtx Financing Receivable Allowance For Credit Loss Increase Decrease Individually Asses Loans
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIndividuallyAssesLoans
57400000 usd
CY2023Q2 trtx Number Of Loans Related To Financing Receivable Allowance For Credit Loss
NumberOfLoansRelatedToFinancingReceivableAllowanceForCreditLoss
3 loan
CY2023Q2 trtx Number Of Office Property Related To Financing Receivable Allowance For Credit Loss
NumberOfOfficePropertyRelatedToFinancingReceivableAllowanceForCreditLoss
2 property
CY2023Q2 trtx Number Of Mixed Use Property Related To Financing Receivable Allowance For Credit Loss
NumberOfMixedUsePropertyRelatedToFinancingReceivableAllowanceForCreditLoss
1 property
CY2023Q2 trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Sale Of Office Property
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromSaleOfOfficeProperty
-24100000 usd
CY2023Q2 trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Conversion Of Office Property
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromConversionOfOfficeProperty
-9000000 usd
CY2023Q2 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
2600000 usd
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
63700000 usd
CY2023Q2 trtx Financing Receivable Excluding Accrued Interest Allowance For Credit Losses Loans Held For Investment And Unfunded Loan Commitment
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossesLoansHeldForInvestmentAndUnfundedLoanCommitment
278300000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease Individually Asses Loans
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseIndividuallyAssesLoans
57400000 usd
trtx Number Of Loans Related To Financing Receivable Allowance For Credit Loss
NumberOfLoansRelatedToFinancingReceivableAllowanceForCreditLoss
3 loan
trtx Number Of Office Property Related To Financing Receivable Allowance For Credit Loss
NumberOfOfficePropertyRelatedToFinancingReceivableAllowanceForCreditLoss
2 property
trtx Number Of Mixed Use Property Related To Financing Receivable Allowance For Credit Loss
NumberOfMixedUsePropertyRelatedToFinancingReceivableAllowanceForCreditLoss
1 property
trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Macroeconomic Events
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromMacroeconomicEvents
52600000 usd
trtx Financing Receivable Allowance For Credit Loss Loan Originated
FinancingReceivableAllowanceForCreditLossLoanOriginated
800000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Sale Of Office Property
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromSaleOfOfficeProperty
-24100000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Conversion Of Office Property
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromConversionOfOfficeProperty
-9000000 usd
trtx Financing Receivable Allowance For Credit Loss Increase Decrease From Individually Assessed Loans Resulting From Improved Collateral Specific Fundamentals
FinancingReceivableAllowanceForCreditLossIncreaseDecreaseFromIndividuallyAssessedLoansResultingFromImprovedCollateralSpecificFundamentals
-9700000 usd
us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
4100000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
3201203000 usd
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss
3476776000 usd
CY2024Q2 trtx Number Of Major Loan Modifications
NumberOfMajorLoanModifications
0 loan
CY2024Q2 trtx Financing Receivable Modified Cash For Capital Structure
FinancingReceivableModifiedCashForCapitalStructure
11300000 usd
CY2024Q2 us-gaap Loans And Leases Receivable Impaired Commitment To Lend
LoansAndLeasesReceivableImpairedCommitmentToLend
11300000 usd
CY2024Q2 us-gaap Financing Receivable Excluding Accrued Interest Modified Increase Decrease From Modification
FinancingReceivableExcludingAccruedInterestModifiedIncreaseDecreaseFromModification
7800000 usd
CY2024Q2 trtx Financing Receivable Interest Rate Paid In Kind
FinancingReceivableInterestRatePaidInKind
0.080
CY2024Q2 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
30000.00 usd
trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
30000.00 usd
CY2023Q4 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
1172000 usd
trtx Paid In Kind Interest Repayment
PaidInKindInterestRepayment
1172000 usd
CY2024Q1 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
0 usd
CY2024Q2 trtx Paid In Kind Interest Accrued
PaidInKindInterestAccrued
34000 usd
CY2024Q2 trtx Paid In Kind Interest Outstanding
PaidInKindInterestOutstanding
34000 usd
CY2024Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
5 property
CY2024Q2 trtx Asset Acquisition Number Of Properties
AssetAcquisitionNumberOfProperties
0 property
trtx Asset Acquisition Number Of Properties
AssetAcquisitionNumberOfProperties
0 property
CY2024Q2 us-gaap Foreclosed Assets
ForeclosedAssets
190400000 usd
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
7601000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
825000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
14268000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
825000 usd
CY2024Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
604000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
248000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1159000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
248000 usd
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
8205000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1073000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
15427000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1073000 usd
CY2024Q2 trtx Real Estate Owned Other Operating Income
RealEstateOwnedOtherOperatingIncome
76000 usd
CY2023Q2 trtx Real Estate Owned Other Operating Income
RealEstateOwnedOtherOperatingIncome
455000 usd
trtx Real Estate Owned Other Operating Income
RealEstateOwnedOtherOperatingIncome
76000 usd
trtx Real Estate Owned Other Operating Income
RealEstateOwnedOtherOperatingIncome
455000 usd
CY2024Q2 trtx Revenue From Real Estate Owned Operations
RevenueFromRealEstateOwnedOperations
8281000 usd
CY2023Q2 trtx Revenue From Real Estate Owned Operations
RevenueFromRealEstateOwnedOperations
1528000 usd
trtx Revenue From Real Estate Owned Operations
RevenueFromRealEstateOwnedOperations
15503000 usd
trtx Revenue From Real Estate Owned Operations
RevenueFromRealEstateOwnedOperations
1528000 usd
CY2024Q2 trtx Real Estate Owned Operating Expense
RealEstateOwnedOperatingExpense
4726000 usd
CY2023Q2 trtx Real Estate Owned Operating Expense
RealEstateOwnedOperatingExpense
884000 usd
trtx Real Estate Owned Operating Expense
RealEstateOwnedOperatingExpense
8825000 usd
trtx Real Estate Owned Operating Expense
RealEstateOwnedOperatingExpense
884000 usd
CY2024Q2 trtx Real Estate Owned Depreciation And Amortization
RealEstateOwnedDepreciationAndAmortization
4156000 usd
CY2023Q2 trtx Real Estate Owned Depreciation And Amortization
RealEstateOwnedDepreciationAndAmortization
964000 usd
trtx Real Estate Owned Depreciation And Amortization
RealEstateOwnedDepreciationAndAmortization
8403000 usd
trtx Real Estate Owned Depreciation And Amortization
RealEstateOwnedDepreciationAndAmortization
964000 usd
CY2024Q2 trtx Expenses From Real Estate Owned Operations
ExpensesFromRealEstateOwnedOperations
8882000 usd
CY2023Q2 trtx Expenses From Real Estate Owned Operations
ExpensesFromRealEstateOwnedOperations
1848000 usd
trtx Expenses From Real Estate Owned Operations
ExpensesFromRealEstateOwnedOperations
17228000 usd
trtx Expenses From Real Estate Owned Operations
ExpensesFromRealEstateOwnedOperations
1848000 usd
CY2024Q2 us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
-601000 usd
CY2023Q2 us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
-320000 usd
us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
-1725000 usd
us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
-320000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
1400000 usd
us-gaap Depreciation
Depreciation
2800000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
200000 usd
us-gaap Depreciation
Depreciation
200000 usd
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
3000000.0 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
33111000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
32121000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8757000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2650000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24354000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29471000 usd
CY2024Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
4311000 usd
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
4311000 usd
CY2024Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1243000 usd
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
604000 usd
CY2024Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
3068000 usd
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
3707000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
8343000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
11585000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
10520000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
9243000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
7567000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
4416000 usd
CY2024Q2 trtx Lessor Operating Lease Payment To Be Received After Year Five
LessorOperatingLeasePaymentToBeReceivedAfterYearFive
63052000 usd
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
114726000 usd
CY2024Q2 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P12Y
CY2024Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
2000000.0 usd
CY2023Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
4600000 usd
CY2024Q2 trtx Participating Mortgage Loans Minimum Conversion
ParticipatingMortgageLoansMinimumConversion
0.50
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2528344000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3048448000 usd
CY2023Q2 trtx Debt Instrument Extension Term
DebtInstrumentExtensionTerm
P3Y
CY2022Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
250000000.0 usd
CY2022Q1 trtx Number Of Lenders Provided Credit Facility
NumberOfLendersProvidedCreditFacility
5 lender
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
290000000.0 usd
CY2022Q1 us-gaap Debt Instrument Term
DebtInstrumentTerm
P3Y
CY2022Q1 trtx Unused Fee Based On Target Utilization Rate
UnusedFeeBasedOnTargetUtilizationRate
0.500
CY2024Q2 trtx Percentage Of Unused Fee
PercentageOfUnusedFee
0.0020
CY2023Q2 trtx Percentage Of Unused Fee
PercentageOfUnusedFee
0.0019
trtx Percentage Of Unused Fee
PercentageOfUnusedFee
0.0020
trtx Percentage Of Unused Fee
PercentageOfUnusedFee
0.0019
CY2022Q1 trtx Maximum Period Permits To Finance Eligible Loans
MaximumPeriodPermitsToFinanceEligibleLoans
P180D
CY2022Q1 trtx Initial Advance Rate
InitialAdvanceRate
0.750
CY2023Q3 trtx Debt Instrument Basis Spread On Advanced Rate Increase Decrease
DebtInstrumentBasisSpreadOnAdvancedRateIncreaseDecrease
-0.0005
CY2023Q4 trtx Debt Instrument Basis Spread On Advanced Rate Increase Decrease
DebtInstrumentBasisSpreadOnAdvancedRateIncreaseDecrease
-0.0005
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
0 usd
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
23800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
99010000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
298600000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1013039000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
510647000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
514257000 usd
CY2024Q2 trtx Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
92791000 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
2528344000 usd
CY2024Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
240500000 usd
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
172700000 usd
trtx Threshold Period Of Delinquency To Consider Loan Nonperforming And Place On Nonaccrual Status
ThresholdPeriodOfDelinquencyToConsiderLoanNonperformingAndPlaceOnNonaccrualStatus
P90D
CY2024Q2 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
3200000000 usd
CY2023Q4 trtx Loans Held For Investment Fair Value Disclosure Nonrecurring
LoansHeldForInvestmentFairValueDisclosureNonrecurring
3400000000 usd
CY2024Q2 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0373
CY2023Q4 trtx Loans Held For Investment Weighted Average Gross Credit Spread
LoansHeldForInvestmentWeightedAverageGrossCreditSpread
0.0373
trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y4M24D
CY2023 trtx Loans Held For Investment Weighted Average Maturity Period
LoansHeldForInvestmentWeightedAverageMaturityPeriod
P2Y7M6D
CY2024Q2 trtx Excise Tax Percentage
ExciseTaxPercentage
1
CY2024Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 usd
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0 usd
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0 usd
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
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