Terra Firma Capital Corp. has successfully completed the closing of two financing transactions in the United States amounting to a total of US $13.5 million.

The first transaction is a US $3.5 million loan to a developer to acquire land for the development of a 152 unit multi-residential rental apartment property in the mid-town submarket of Atlanta. The second is a US $10 million loan for a single family land development in Houston. Both financing transactions were funded with the company’s capital with the intention of syndicating a portion of the loans with co-investor capital as it has done in the past.

“We are very pleased to have embarked on our previously announced initiative to expand into the U.S. market. We have commenced our activity in the U.S. with two transactions, employing the same business, structure and underwriting principals we have successfully used in the Canadian market as well as achieving similar investment yields,” commented Y. Dov Meyer, Chief Executive Officer. “I am very encouraged by the deal flow that we are seeing in the U.S. which has been the main focus of Glenn Watchorn, our newly appointed President and Chief Operating Officer,” he added.

“We are attracted to these opportunities for a number of reasons,” commented Glenn Watchorn, President and Chief Operating Officer. “First, Atlanta and Houston are two of the fastest growing markets in the U.S. and the locations that we have chosen within those markets are growing at an even faster pace. Second, these two developers have a long and established track record in their perspective markets and we have personal positive experience working with them in the past.”