Track Record
Since 2002, Terra has made investments in over 350 office, industrial, retail, apartment and hotel properties nationwide containing more than 48 million square feet. We adhere to a disciplined, income-oriented strategy and are acutely sensitive to changes in property and capital markets. We invest as markets strengthen and withdraw from overheated markets.
Terra is one of the few fund managers to have sold 100% of its interests for cash at the market peak in 2007. We did not return to the lending market until 2009 once we were convinced the bottom had been hit. As a result, none of our funds has ever had a loss, and we operate without the burden of any pre-credit crisis "legacy assets."*
*Past performance is not a guarantee of future results.
Bruce Batkin and Simon Mildé co-found Terra, focused on mezzanine and preferred equity investing in U.S. commercial real estate. Between 2003 and 2007, the company builds a portfolio of 140 investments in 35 states.
2002
Terra is founded
Sensing a bubble in commercial property values and credit markets, Terra management decides to sell 100% of its interests for cash. It closes the sale in June 2007, prior to the financial crisis.
2007
Terra sells 100% of its interests
Terra management sits on cash and waits for evidence that markets have stabilized before raising new capital and re-entering the mezzanine lending market.
2008
Terra waits for stability
Terra re-enters the mezzanine lending market when it sees evidence of a bottom in commercial real estate values and a shortage of bank credit. The company launches its new Income Fund series.
2009
Terra returns to the lending market
Terra opens its funds to non-us investors. It expands its portfolio of “value-add” and pre-development loans as U.S. property markets strengthen. As of 2014, it has completed a total of over 300 investments nationwide.
2014
Terra opens to offshore investors
Terra closes its Income Fund 5 and opens its
$1 billion Income Fund 6. The company begins to originate senior mortgage loans in addition to mezzanine loans.
2015
Terra launches Income Fund 6
