Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021		Sep. 30, 2020
Cash Flows from Operating Activities:
Net Income (Loss)	$ 93,672		$ (151,415)
Adjustment to Reconcile Net Income (Loss) to Net Cash Flows from Operating Activities:
Amortization and Accretion of Premiums, Discounts and Loan Origination Fees, Net	(5,448)		(8,515)
Amortization of Deferred Financing Costs	11,258		10,062
Capitalized Accrued Interest	1,209		(3,889)
Loss on Sales of Loans Held for Investment, net	2,109		13,773
Loss on Sales of CRE Debt Securities, net			203,397
Stock Compensation Expense	4,099		4,234
Credit Loss (Benefit) Expense	(7,860)		39,685
Cash Flows Due to Changes in Operating Assets and Liabilities:
Accounts Receivable	768		1,709
Accrued Interest Receivable	(1,021)		(1,367)
Accrued Expenses and Other Liabilities	(4,095)		(416)
Accrued Interest Payable	33		(3,808)
Payable to Affiliates	(98)		(1,530)
Deferred Fee Income	(484)		27
Other Assets	2,881		171
Net Cash Provided by Operating Activities	97,023		102,118
Cash Flows from Investing Activities:
Origination of Loans Held for Investment	(1,062,872)		(351,650)
Advances on Loans Held for Investment	(110,196)		(171,389)
Principal Repayments of Loans Held for Investment	782,144		431,414
Sales of Loans Held for Investment	58,374		131,902
Purchase of Available-for-Sale CRE Debt Securities			(168,888)
Sales and Principal Repayments of Available-for-Sale CRE Debt Securities			766,437
Net Cash (Used in) Provided by Investing Activities	(332,550)		637,826
Cash Flows from Financing Activities:
Payments on Collateralized Loan Obligations	(109,751)
Proceeds from Collateralized Loan Obligation	1,037,500
Payment of Deferred Financing Costs	(9,417)		(2,694)
Proceeds from Issuance of Warrants to Purchase Common Stock			14,402
Proceeds from Issuance of Common Stock			12,895
Payment of Equity Issuance, Shelf Registration, and Equity Distribution Agreement Transaction Costs	(6,824)		(12,342)
Net Cash Provided by (Used in) Financing Activities	185,788		(594,056)
Net Change in Cash, Cash Equivalents, and Restricted Cash	(49,739)		145,888
Cash, Cash Equivalents and Restricted Cash at Beginning of Period	319,669		79,666
Cash, Cash Equivalents and Restricted Cash at End of Period	269,930		225,554
Supplemental Disclosure of Cash Flow Information:
Interest Paid	52,033		79,518
Taxes Paid	1,169		141
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Dividends Declared, not paid	18,593	[1]	15,444
Transfer from Loans Held for Investment to Loans Held for Sale	86,636
Principal Repayments of Loans Held for Investment Held by Servicer/Trustee, Net	15,332		23,478
Accrued Equity Issuance, Shelf Registration, and Equity Distribution Agreement Transaction Costs	42		3,047
Change in Accrued Deferred Financing Costs	593		567
Unrealized Loss on Available-for-Sale CRE Debt Securities			(1,051)
Loans Investment
Cash Flows from Financing Activities:
Payments on Secured Credit Agreements	(1,122,858)		(810,487)
Proceeds from Secured Credit Agreements	519,915		776,343
CRE Debt Securities
Cash Flows from Financing Activities:
Payments on Secured Credit Agreements			(824,920)
Proceeds from Secured Credit Agreements			132,122
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Unrealized Loss on Available-for-Sale CRE Debt Securities	(203,400)
Series C Preferred Stock
Cash Flows from Financing Activities:
Proceeds from Issuance of Preferred Stock	201,250
Common Stock, Undefined Class
Cash Flows from Financing Activities:
Dividends paid	(60,499)		(81,218)
Series B Preferred Stock
Cash Flows from Financing Activities:
Proceeds from Issuance of Preferred Stock			210,598
Series B Preferred Stock Redemption Make-Whole Payment	(22,485)
Series B Preferred Stock Redemption at Par Value	(225,000)
Class A Common Stock
Cash Flows from Financing Activities:
Dividends paid			(284)
Preferred Stock, Undefined Class
Cash Flows from Financing Activities:
Dividends paid	$ (16,043)		$ (8,471)

[1] The Company’s consolidated Total Assets and Total Liabilities as of September 30, 2021 include assets and liabilities of variable interest entities (“VIEs”) of $3.5 billion and $2.8 billion, respectively. The Company’s consolidated Total Assets and Total Liabilities as of December 31, 2020 include assets and liabilities of VIEs of $2.3 billion and $1.8 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 6 to the Consolidated Financial Statements for details