Terra Property Trust Inc

Terra Property Trust, Inc. (TPT) is an externally managed real estate investment trust (REIT) that originates, structures, and manages commercial real estate credit investments across the United States. Managed by Terra REIT Advisors, LLC—an affiliate of Mavik Capital Management—the trust operates as an alternative credit provider in the middle-market sector, stepping in to fill the financing gap left by capital-constrained regional banks. Rather than acquiring and operating physical buildings, TPT provides customized financing solutions directly to property owners and developers. Its overarching objective is to preserve invested capital while generating a consistent, low-volatility cash income stream to support regular distributions to its stockholders.

To generate these risk-adjusted returns, TPT focuses on originating new off-market loans ranging from $10 million to $50 million with short-to-medium maturity horizons of one to five years. The portfolio is built primarily around floating-rate instruments—including first mortgage loans, mezzanine debt, B-notes, and preferred equity—which protect yields across changing interest rate environments while maintaining structural safety through lower loan-to-value (LTV) ratios and substantial borrower equity buffers. Since commencing operations in 2016 and significantly expanding its balance sheet through a strategic 2022 merger with Terra Income Fund 6, Inc., the trust has maintained a portfolio broadly diversified by property type and geography while utilizing publicly traded senior notes to optimize its capital structure and fund its lending pipeline.