Post by
chronictat on May 23, 2019 8:50am
News!!!
2019 year-to-date transactions at approximately US$50 million TORONTO, May 23, 2019 (GLOBE NEWSWIRE) -- Terra Firma Capital Corporation (TSX-V: TII) ("Terra Firma" or the Company), is pleased to announce the closing of a land banking transaction (the Investment) totaling US$6 million in the Jacksonville, Florida MSA. The site will be developed by Mattamy Homes, a large international home building company founded in Toronto, Ontario Canada. The infill site will ultimately be developed into 179 lots in two phases on 16 acres. The Investment was fully funded with available cash balances, and the Company intends to syndicate a large portion of the Investment in due course. With the closing of this transaction, Terra Firma has now closed on approximately US$50 million of originations year-to-date, substantially all of which will fund in 2019. We are very excited to work with the U.S. operations of Mattamy Homes and are hoping to do many more transactions with them in the future, commented Glenn Watchorn, President and Chief Executive Officer. The closing of this new transaction and our originations this year are positive indications that our diligent ground work in the U.S. is paying off, added Mr. Watchorn.