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Terra Firma Capital Corporation Reports Closing of Four New Transactions Amounting to US$36 Million

Terra Firma Capital Corporation
·2 mins read

All amounts are stated in United States dollars unless otherwise indicated

TORONTO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Terra Firma Capital Corporation (TSX-V: TII) ("Terra Firma" or the “Company”), a leading real estate finance company, today announced the closing of four new separate transactions for commitments totaling $36 million during the last 30 days. The transactions consisted of two loans located in the metropolitan statistical areas (“MSA”) of Atlanta, Georgia, Tampa, Florida, and two land banking investments located in the MSAs of Jacksonville, Florida and Washington, D.C.

“Given the strength and continued resilience of the U.S. housing market, our deal pipeline has ramped up significantly over the last few months. During this time, we have succeeded in closing four very attractive transactions, three of which were postponed due to the onset of the COVID-19 pandemic. Based on this increased activity, we very much expect to see the volume of new transactions and deployment accelerate through Q4 2020 and into next year,” said Glenn Watchorn, CEO of Terra Firma Capital Corporation. “We continue to be very cautious and review all opportunities with increased scrutiny while maintaining a strong balance sheet with little to no leverage.”

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 in Canada and throughout 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 Chairman
Phone: 416.792.4709
ydmeyer@tfcc.ca

or

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