Publications

OCTOBER 22, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

TerraCap fund holds $102m final close

by Andrea Waitrovich

TerraCap Partners II, managed by TerraCap Management Corp., has held a $102 million final close. The vehicle is a distressed situation commercial real estate opportunity fund focused on office, retail, industrial, hospitality and land. The primary target market is the southeastern United States with a focus on Florida.

The firm has started to invest Fund II's capital. In April 2012, TerraCap Partners II purchased the 87-room Bonita Springs Lodge and Suites in Bonita Springs, Fla., for $2.85 million. This is acquisition is one of several purchases in the area for TerraCap Partners II. The fund also acquired a 120-room Hampton Inn & Suites hotel in Fort Myers Beach, Fla.

In March 2013 TerraCap Partners II took ownership of five commercial buildings in the Westlinks Business Park in Fort Myers, Fla., in a deed in lieu of foreclosure. The investment fund purchased the $12.4 million worth of mortgage de

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy