MONTRÉAL and WALTHAM, Mass., Dec. 16, 2024 /CNW/ - CDPQ, a global investment group, and TerraPact, an owner and operator of real estate that underpins America's wireless, broadband, and energy sectors, announced today the conclusion of an agreement under which CDPQ will provide USD 240 million (CAD 335 million) in senior financing to support the growth of TerraPact's real estate portfolio across the United States and in British Columbia, Canada. The investment will also refinance TerraPact's existing debt structure.
TerraPact, a Columbia Capital portfolio company, manages a highly diversified platform comprised of long-term ground leases and rights of way for more than 700 assets. The platform benefits from long-term and resilient cash flows, as each site underprops critical digital, utility and energy infrastructure.
"TerraPact is a strategically positioned ground lease platform which occupies a core position in the infrastructure value chain, delivering connectivity and energy across North America," said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. "With this transaction, CDPQ is providing a bespoke infrastructure financing solution as sole lender, tailored to propel TerraPact's growth ambitions over the years to come."
"We are excited to continue our partnership with CDPQ," said Ben Myers, CEO of TerraPact. "This growth financing will allow us to continue our multi-year strategy of becoming one of America's premier energy and digital infrastructure landowners. We couldn't be more excited to move forward with CDPQ's best-in-class financing team."
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ's net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.
ABOUT TERRAPACT
Founded in 2012 and headquartered in Waltham, Massachusetts, TerraPact is a leading acquirer and manager of real estate assets critical to infrastructure within North America's wireless, broadband, and energy sectors. TerraPact offers asset owners a unique opportunity to divest and monetize their holdings through flexible and economically rewarding transactions. For more information, please visit terrapact.com.
ABOUT COLUMBIA CAPITAL
Columbia Capital was founded over 30 years ago and, in that time, has developed a repeatable investment model guided by a specialized and experienced team. Columbia focuses on the investments in the digital infrastructure, enterprise technology, and mobility spaces and has raised over $8B in fund commitments. For more information, please visit www.colcap.com.
For more information
CDPQ
CONRAD HARRINGTON
Senior Director – International Media Relations
+ 1 514 847-5493
TERRAPACT
ALAA OUMANSOUR
Chief Financial Officer
+1 781 896-1316
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SOURCE CDPQ
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