Terra Property Trust, Inc., a Maryland-based real estate investment trust, has announced an extension of its revolving line of credit with Western Alliance (NYSE:WAL) Bank. The amendment, effective as of January 31, 2025, pushes the maturity date to June 30, 2025, and introduces an additional requirement for monthly principal payments.
The agreement, disclosed in a recent SEC filing, represents a modification to the existing credit facility between Terra Property Trust and its wholly owned subsidiary, Terra Mortgage Portfolio II, LLC. The Seventh Amendment to Loan Documents, signed on Monday, February 4, 2025, adjusts the terms of the company’s financial obligations to Western Alliance Bank, an Arizona Corporation.
This strategic financial move by Terra Property Trust, which operates within the real estate investment sector under the ticker NYSE:TPTA, ensures continued access to capital through the extended maturity date. The details of the amendment, including the specifics of the principal payment adjustments, will be further outlined in the company’s forthcoming Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.
Investors may view this development as a positive sign of the company’s ability to renegotiate and manage its debt obligations effectively. It is important to note that the information provided here is based on a press release statement from Terra Property Trust and will be subject to more detailed disclosure in their upcoming quarterly report.
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