December 19, 2018
Terra Capital Partners has secured a $150-million credit line from Goldman Sachs. The financing will facilitate the expansion of the real estate credit manager’s investment strategy, which will now include first mortgage originations.
Calling the Goldman Sachs financing “an important step in our evolution,” Terra CEO Vik Uppal said the company was now “broadening our investment universe and capitalizing on current opportunities in lending, by expanding our participation throughout the capital structure and offering flexible and attractive structures and terms.
“Terra will leverage this new competitive advantage while continuing its disciplined investment approach,” added Uppal, who succeeded company founder Bruce Batkin as CEO earlier this month.
The company intends to continue sourcing deals covering all strategies, property types and markets throughout the U.S. through its existing relationships while also establishing new partnerships.
Pictured: Terra Capital headquarters
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