Commercial Mortgage REIT Terra Property Trust Announces Baby Bonds

Terra Property Trust (Not exchanged traded) has announced a new issue of baby bonds. Terra is a commercial mortgage REIT.

The bonds will trade on the NYSE under ticker TPTA after they are priced – trading is likely a week away.

The registration statement for this new issue can be found here.

Yield talk is in the 6.00% to 6.25% area with maturity in 2026.

EarlyBird was right on top of this one.

18 thoughts on “Commercial Mortgage REIT Terra Property Trust Announces Baby Bonds”

  1. Gentlemen (all above commenters)
    and Tim especially,
    I read the posts and comments on this site almost daily. So much great information and knowledge. As all of you know, fixed income is hard these days in the casino world of AMC, GME, Bitcoin and the like….
    I don’t comment often as I don’t have much to add but the above string of comments made my day. Thanks guys for all you do and for the needed humor on occasion.
    Best
    Gary H

  2. AH…. You guys are hung up on cow emissions! Our US EPA says agriculture is about 10% of the US total of methane gas, with cows being the biggest contributor. Eat more chicken guys and help the world out…… or go vegetarian! Since I had my rant yesterday on Presidio Property Trust I am going to pass on commenting much on Terra Property Trust. Seems like they have Presidio beat anyhow on being low on investment possibilities. Could not even locate a website for these folks. At least Presidio had a nice website easily found.

    1. “Our US EPA says agriculture is about 10% of the US total of methane gas”

      There you go trying to confuse the green agenda with facts.

      1. Haha! The one fact that matters is the one that states I will also take a pass on this one and Presidio. Rather buy some more dull old utility stock for my portfolio. Actually over time the utilities have been a good investment. I sleep well at night owning them

      2. @Private
        What do you think they are feeding all those animals? Steaks?
        GMO corn, soybeans. Not to mention feeding the refineries with GMO corn.

      1. Not sure that’s the right link? I got lost trying to read the prospectus Tim posted above; too many interlocking entities named “Terra xxx”. TPTA (I couldn’t even find that symbol within the verbiage) appears to be something different from Terra Income Fund 6, which has 7% note TFSA, IPO’d Feb ’21.
        Anyone care to explain in simple language?

        1. The link in my comment above displays the fund’s site. It is one of 3 of their funds currently open to accept private investor money ( best I can tell ) . Quantum Online website’s link displays the same website, but you have to key in TERRA and symbol search, not key in the symbol. The Terra funds are non-traded funds, but of course, the preferred is tradable. I have no comment as to the issue’s worthiness and leave that to the more knowledgeable folks on this site.

  3. Tiny – running 2 apt complexes, 1 home, 2 college apts, and some (3?) homes in San Bernadino Valley, Ca
    Basically fixer-uppers to rent appears to be their target.
    Big pass. How the hell do they get NYSE listed.

  4. While Iam not a CPA I just browsed quickly thru Ready Ratios which I use just to get a little color on a new issue. Color me not impressed. Its getting a little frustrating anymore as very few what I would call decent companies coming to market with anything remotely close as to something I would buy.

    1. I dated a CPA once, Chuck. She was mostly colorless. Then a barmaid. Too much color. Way too much.

      On the other hand, in case I need to repave my driveway later, I bought some BKEPP this morning. Hydrocarbons. They’re what’s happening now.

      JMO

      1. Camroc, Keep buying hydrocarbons like you have, we will be seeing your mug on “America’s Most Wanted”. Im staying just behind you and off their radar, but the past year, I have put a tilt that way myself.
        Can you be the green craze has got so bad, I saw on the news they are marketing masks for cows to wear? They supposedly reduce about half the methane gas they expel. Good for the environment. I say cut the cows some slack. Its bad enough their life is cut short so they can wind up on my plate for dinner. Now they have to wear masks until that time comes? Give them a little fun I say!

            1. There are also feed supplements that are reported to greatly reduce methane burps in cattle. One is successful enough (IIRC) that the maker is able to sell carbon offset credits.

        1. A study years ago showed that Denver smog is about half due to cooked up cow emissions from nearby feedlots. Happy breathing that?

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