TerraPact receives USD 240 million investment to boost growth in North America
Deal News | Dec 16, 2024 | CDPQ
In a significant financial move, CDPQ, a global investment group, has announced the provision of USD 240 million in senior financing to TerraPact, a Columbia Capital portfolio company specializing in real estate integral to North America's wireless, broadband, and energy sectors. This investment is aimed at expanding TerraPact's real estate portfolio and refinancing its current debt structure, stretching across the United States and British Columbia, Canada. TerraPact's platform, known for its diversified long-term ground leases and rights of way, underpins more than 700 critical assets, providing stable cash flows and supporting vital digital, utility, and energy infrastructures. This bespoke financing solution reinforces the strategic partnership between TerraPact and CDPQ, aimed at propelling TerraPact towards becoming a leading landowner in energy and digital infrastructure. The transaction underscores CDPQ's commitment to providing tailored infrastructure financing and supporting TerraPact's strategic growth ambitions.
Sectors
- Real Estate
- Infrastructure
- Investment Management
Geography
- United States – The primary location for TerraPact's real estate expansion and existing portfolio.
- Canada – Particularly British Columbia, where part of TerraPact's portfolio and expansion plans are situated.
Industry
- Real Estate – Involves investment in TerraPact's real estate assets critical to North America's infrastructure.
- Infrastructure – The investment supports infrastructure through ground leases and rights of way essential to connectivity and energy sectors.
- Investment Management – CDPQ's role as an investor providing substantial capital for growth and debt refinancing.
Financials
- USD 240 million – The amount invested by CDPQ to support TerraPact's growth and refinance its debt.
- CAD 335 million – The Canadian dollar equivalent of the USD 240 million investment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CDPQ | Investor | Company | A global investment group providing significant financing to support TerraPact's growth and debt refinancing. |
| TerraPact | Target Company | Company | A Columbia Capital portfolio company managing real estate assets that support digital and energy infrastructure. |
| Columbia Capital | Parent Company | Company | The investment firm that owns TerraPact. |
| Marc Cormier | Executive Vice-President and Head of Fixed Income | Person | Represents CDPQ in this transaction. |
| Ben Myers | CEO | Person | Chief Executive Officer of TerraPact. |