TerraPact has secured $240m (鈧�228.3m) in senior financing from the Caisse de d茅p么t et placement du Qu茅bec (CDPQ) to expand its real estate portfolio across the US and in British Columbia, Canada.
The investment will also refinance TerraPact鈥檚 existing debt structure.
TerraPact is a real estate investment platform specialising in long-term ground leases and rights of way for critical infrastructure assets.
It oversees over 700 assets consisting of long-term ground leases and rights of way. The platform generates stable, long-term cash flows, with each site supporting essential digital, utility and energy infrastructure.
Marc Cormier, EVP and head of fixed income at CDPQ, said: 鈥淭erraPact is a strategically positioned ground lease platform which occupies a core position in the infrastructure value chain, delivering connectivity and energy across North America.
鈥淲ith this transaction, CDPQ is providing a bespoke infrastructure financing solution as sole lender, tailored to propel TerraPact鈥檚 growth ambitions over the years to come.鈥�
Ben Myers, CEO of TerraPact, said: 鈥淲e are excited to continue our partnership with CDPQ. This growth financing will allow us to continue our multi-year strategy of becoming one of America鈥檚 premier energy and digital infrastructure landowners. We couldn鈥檛 be more excited to move forward with CDPQ鈥檚 best-in-class financing team.鈥�
To read the latest 91传媒在线 magazine click here.
