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Terra Firma Capital Corporation Announces the Closing of a Land Banking Transaction in Atlanta, Georgia

TORONTO, April 17, 2018 (GLOBE NEWSWIRE) -- Terra Firma Capital Corporation (TII.V) ("Terra Firma" or the “Company”), is pleased to announce the closing of its first land banking transaction in Atlanta, Georgia totaling US$5.3 million (CDN$6.7 million) for a large national homebuilder.

The land banking transaction closed on April 16, 2018 and was partially funded with available cash balances.  Land banking is a unique financing product provided primarily in the United States to help large private and public homebuilders manage their land inventory requirements off their balance sheets.

“We continue to be innovative in how we structure our financings for developers and are seeing the results in our pipeline.  With the addition of land banking to provide off-balance sheet land inventory financing, we expect to have even greater acceleration in our asset growth in the short term.  With the closings in place and signed LOIs which we are working to close imminently, we expect to finish the first half of the year having committed at least CDN$45 million,” said Glenn Watchorn, President and Chief Executive Officer. 

About Terra Firma

Terra Firma is a full service, publicly traded real estate finance company that provides real estate financings secured by investment properties and real estate developments throughout Canada and the United States. The Company focuses on arranging and providing financing with flexible terms to real estate developers and owners who require shorter-term loans to bridge a transitional period of one to five years where they require capital at various stages of development or redevelopment of a property. These loans are typically repaid with lower cost, longer-term debt obtained from other Canadian financial institutions once the applicable transitional period is over or the redevelopment is complete, or from proceeds generated from the sale of the real estate assets. 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 TSX-V has neither approved nor disapproved the contents of this press release. The TSX-V does not accept responsibility for the adequacy or accuracy of this press release.

For further information, please contact:

Terra Firma Capital Corporation
Glenn Watchorn
Chief Executive Officer
Phone: 416.792.4702
gwatchorn@tfcc.ca

or
Terra Firma Capital Corporation
Y. Dov Meyer
Executive Vice Chairman
Phone: 416.792.4709
ydmeyer@tfcc.ca
or

Ali Mahdavi
Managing Director
Spinnaker Capital Markets Inc.
Phone: 416.962.3300
am@spinnakercmi.com