Terra Firma Capital Corporation

Terra Firma Capital Corporation

June 22, 2015 08:00 ET

Terra Firma Capital Corporation Closes Financing of Two Projects in U.S.

TORONTO, ONTARIO--(Marketwired - June 22, 2015) -


All amounts are stated in U.S. dollars.

Terra Firma Capital Corporation (TSX VENTURE:TII) ("Terra Firma" or the "Company") is pleased to announce that it has successfully completed the closing of two financing transactions in the United States amounting to a total of US $13.5 million.

The first transaction is a US $3.5 million loan to a developer to acquire land for the development of a 152 unit multi-residential rental apartment property in the mid-town submarket of Atlanta. The second is a US $10 million loan for a single family land development in Houston. Both financing transactions were funded with the Company's capital with the intention of syndicating a portion of the loans with co-investor capital as it has done in the past.

"We are very pleased to have embarked on our previously announced initiative to expand into the U.S. market. We have commenced our activity in the U.S. with two transactions, employing the same business, structure and underwriting principals we have successfully used in the Canadian market as well as achieving similar investment yields," commented Y. Dov Meyer, Chief Executive Officer. "I am very encouraged by the deal flow that we are seeing in the U.S. which has been the main focus of Glenn Watchorn, our newly appointed President and Chief Operating Officer," he added.

"We are attracted to these opportunities for a number of reasons. First, Atlanta and Houston are two of the fastest growing markets in the U.S. and the locations that we have chosen within those markets are growing at an even faster pace. Second, these two developers have a long and established track record in their perspective markets and we have personal positive experience working with them in the past," commented Glenn Watchorn, President and Chief Operating Officer.

About Terra Firma

Terra Firma is a full service, publicly traded real estate finance company that provides customized equity and debt solutions to the real estate industry. Our focus is to arrange and provide financing with flexible terms to property owners looking to improve or add to their existing real estate assets but who may be limited by conventional bank financing, as well as to invest in quality commercial and residential developments by proven real estate developers. Terra Firma offers a full spectrum of real estate financing under the guidance of strict corporate governance, clarity and transparency. For further information please visit Terra Firma's website at www.tfcc.ca.

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

This Press Release contains forwardlooking statements with respect matters concerning the business, operations, strategy and financial performance of Terra Firma. These statements generally can be identified by use of forward looking word such as "may", "will", "expects", "estimates", "anticipates", "intends", "believe" or "could" or the negative thereof or similar variations. The future business, operations and performance of Terra Firma could differ materially from those expressed or implied by such statements. Such forwardlooking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forwardlooking statements are based on a number of assumptions which may prove to be incorrect. Additional, important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, local real estate conditions, competition, changes in government regulation, dependence on tenants' financial conditions, interest rates, the availability of equity and debt financing, environmental and tax related matters, and reliance on key personnel. There can be no assurances that forwardlooking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forwardlooking statements. The cautionary statements qualify all forwardlooking statements attributable to Terra Firma and persons acting on its behalf. Unless otherwise stated, all forward looking statements speak only as of the date of this Press Release and Terra Firma has no obligation to update such statements except as required by law.

Contact Information

  • Terra Firma Capital Corporation
    Y. Dov Meyer
    Chief Executive Officer

    Spinnaker Capital Markets Inc.
    Ali Mahdavi
    Managing Director