Terra Property Trust, Inc.
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
TPTS$12.41-4.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets as of December 31, 202 and
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Cash and cash equivalents | $8,578,456 | $10,674,475 |
| Restricted cash | 2,937,959 | 3,954,986 |
| Cash held in escrow by lender | 7,448,611 | 4,907,316 |
| Marketable securities | 963,178 | 4,961,879 |
| Loans held for investment, net of allowance for credit losses of $45,381,465 and $56,749,498 | 233,571,416 | 417,913,773 |
| Loans held for investment acquired through participation, net of allowance for credit losses of $759,991 and $226,527 | 41,077,729 | 38,558,485 |
| Equity interest in unconsolidated investments | 106,816,146 | 37,171,326 |
| Real estate owned, net (Note 5) | ||
| Land, building and building improvements, net | 123,597,789 | 126,724,333 |
| Lease intangible assets, net | 5,641,030 | 9,869,364 |
| Interest receivable | 5,440,620 | 6,537,368 |
| Due from related parties | 859,267 | 655,263 |
| Other assets | 5,886,858 | 8,811,583 |
| Total assets | $542,819,059 | $670,740,151 |
| Liabilities and Equity | ||
| Liabilities: | ||
| Unsecured notes payable, net | $120,424,100 | $118,380,897 |
| Secured financing agreements, net | 205,718,782 | 290,525,313 |
| Obligations under participation agreements (Note 7 ) | 18,177,106 | — |
| Interest reserve and other deposits held on investments | 2,937,959 | 3,954,986 |
| Lease intangible liabilities, net (Note 5) | 3,902,416 | 6,838,875 |
| Due to Manager (Note 7) | 1,597,552 | 4,183,293 |
| Interest payable | 1,350,384 | 1,575,463 |
| Accounts payable and accrued expenses | 2,189,486 | 2,405,749 |
| Unearned income | 127,485 | 314,260 |
| Other liabilities | 667,723 | 907,507 |
| Total liabilities | 357,092,993 | 429,086,343 |
| Commitments and contingencies (Note 9) | ||
| Equity: | ||
| Preferred stock, $0.01 par value, 50,000,000 shares authorized and none issued | — | — |
| Class A Common Stock, $0.01 par value, 450,000,000 shares authorized and no shares issued, as of both December 31, 2024 and December 31, 2023 | — | — |
| Class B Common Stock, $0.01 par value, 450,000,000 shares authorized and 24,337,952 and 24,336,033 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively | 243,380 | 243,360 |
| Additional paid-in capital | 444,478,936 | 444,458,206 |
| Accumulated deficit | (258,810,775) | (203,047,758) |
| Accumulated other comprehensive loss | (185,475) | — |
| Total equity | 185,726,066 | 241,653,808 |
| Total liabilities and equity | $542,819,059 | $670,740,151 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.