Terra Property Trust Inc
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
TPTS$12.41-4.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Cash and cash equivalents | $10,674,475 | $28,567,825 |
| Restricted cash | 3,954,986 | 4,633,204 |
| Cash held in escrow by lender | 4,907,316 | 3,268,563 |
| Marketable securities | 4,961,879 | 147,960 |
| Loans held for investment, net of allowance for credit losses of $56,749,498 and $25,471,890 | 417,913,773 | 584,417,939 |
| Loans held for investment acquired through participation, net of allowance for credit losses of $226,527 and none | 38,558,485 | 42,072,828 |
| Equity investment in unconsolidated investments | 37,171,326 | 62,498,340 |
| Real estate owned, net (Note 6) | ||
| Land, building and building improvements, net | 126,724,333 | 46,660,226 |
| Lease intangible assets, net | 9,869,364 | 2,568,461 |
| Operating lease right-of-use asset | — | 27,378,786 |
| Deal deposit | — | 4,241,892 |
| Interest receivable | 6,537,368 | 4,100,501 |
| Other assets | 9,466,846 | 2,780,367 |
| Total assets | $670,740,151 | $813,336,892 |
| Liabilities and Equity | ||
| Liabilities: | ||
| Unsecured notes payable, net | $118,380,897 | $116,530,673 |
| Secured financing agreements, net | 290,525,313 | 313,600,484 |
| Obligations under participation agreements (Note 8 ) | — | 12,680,594 |
| Interest reserve and other deposits held on investments | 3,954,986 | 4,633,204 |
| Operating lease liability | — | 27,378,786 |
| Lease intangible liabilities, net (Note 6) | 6,838,875 | 8,646,840 |
| Due to Manager (Note 8) | 4,183,293 | 3,935,997 |
| Interest payable | 1,575,463 | 1,058,001 |
| Accounts payable and accrued expenses | 2,405,749 | 1,452,236 |
| Unearned income | 314,260 | 378,018 |
| Other liabilities | 907,507 | 1,159,885 |
| Total liabilities | 429,086,343 | 491,454,718 |
| Commitments and contingencies (Note 10) | ||
| Equity: | ||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized and none issued | — | — |
| 12.5% Series A Cumulative Non-Voting Preferred Stock at liquidation preference, 125 shares authorized and no shares and 125 shares issued and outstanding at December 31, 2023 and 2022, respectively | — | 125,000 |
| Class A Common Stock, $0.01 par value, 450,000,000 shares authorized and no shares issued, at both December 31, 2023 and 2022 | — | — |
| Class B Common Stock, $0.01 par value, 450,000,000 shares authorized and 24,336,033 and 24,335,370 shares issued and outstanding at December 31, 2023 and 2022, respectively | 243,360 | 243,354 |
| Additional paid-in capital | 444,458,206 | 444,449,813 |
| Accumulated deficit | (203,047,758) | (122,935,993) |
| Total equity | 241,653,808 | 321,882,174 |
| Total liabilities and equity | $670,740,151 | $813,336,892 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.