Terrafina closes $150 million 10-year loan with 4.75% fixed rate

By Wendy Van Sickle

Columbus, Ohio, Feb. 15 – Terrafina closed a $150 million 10-year loan in line with its secured credit loan refinancing strategy that was initiated in mid-2016, according to a press release.

The new loan has fixed annual interest of 4.75%; the company’s previous secured loans had floating interest of Libor plus 375 basis points to 509 bps.

Additionally, the refinancing extends Terrafina’s weighted average maturity to 6.7 years from 4.4 years at Sept. 30.

Terrafina is a Mexico City-based real estate investment trust with a focus on industrial properties. It is externally advised by Prudential Real Estate Investors.

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