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Fundraising - JUNE 29, 2015

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Terra Capital Partners seeks $1b for fund

by Zoë Wolff

Terra Capital Partners is seeking $1 billion for a commercial property debt investment fund. Terra Income Fund 6 is the first investment fund that focuses on commercial real estate loans to be structured as a business development company. The BDC structure is generally used by companies that make business loans.

The fund will make loans, similar to previous Terra funds, that are well-secured by high-quality commercial properties in the United States, including apartments, office buildings and hotels, according to the fund’s website. The fund is seeking to generate income at an 8 percent annual rate.

Terra Income Fund 6 will focus primarily on $3 million to $20 million loans that do not exceed 80 percent of a property’s current value.

The loans that Terra Income Fund 6 will make will include first mortgages and mezzanine loans.

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