T
Terra Income Fund 6, LLC
TFSACIK 0001577134NYSEEmerging GrowthReal Estate Investment TrustsMarylandFY ends Dec 31
Period
FY 2024
Revenue
—
Net Income
$-12.50M
Total Assets
$115.90M
Equity
—
Shares Out
0
Op. Cash Flow
$-201.6K
Business
Terra Income Fund 6, LLC is a real estate-related investment subsidiary that originates, invests in and manages a portfolio of commercial real estate loans and related assets. It offers origination, structuring, underwriting and management of first mortgage loans, subordinated mortgage loans (B-notes), mezzanine loans, preferred equity investments and equity participations, and may acquire real estate through foreclosure or joint ventures. Key business functions operate under Terra REIT as the sole member with investment activities supported by Terra REIT Advisors and Terra Capital Partners. Its investments are focused on commercial properties and financings across the United States, sourced through direct origination and strategic relationships.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|
| Interest income | 8 | 10 | — | — | |
| Prepayment fee income | 435,677 | 0 | — | — | |
| Dividend and other income | 47,815 | 87,625 | — | — | |
| Revenues | 8 | 10 | — | — | |
| Asset management and asset servicing fees paid/payable to Terra REIT | 1 | 2 | — | 2 | |
| Operating expense reimbursement to Terra REIT | 1 | 2 | — | — | |
| Provision for credit losses | 6 | 5 | — | — | |
| Professional fees | 698,566 | 711,754 | — | 1 | |
| Insurance expense | 84,288 | 125,334 | — | — | |
| General and administrative | 71,823 | 30,855 | — | — | |
| Operating expenses | 9 | 9 | — | — | |
| Operating (loss) income | −968,236 | 1 | — | — | |
| Loss from equity interest in unconsolidated investments | −4 | −1 | 10,000 | — | |
| Interest expense on unsecured notes payable | −4 | −4 | — | 3 | |
| Interest expense on term loan | −517,528 | −2 | — | −313,638 | |
| Interest expense from obligation under participation agreement | −3 | 0 | — | — | |
| Unrealized loss on investments, net | 0 | −18,601 | — | — | |
| Realized loss on investments, net | 0 | −12,512 | — | — | |
| Other income and expenses | −12 | −7 | — | — | |
| Net loss | −13 | −6 | — | 4 | |
| Unrealized loss on available-for-sale debt securities | −81,909 | 0 | — | — | |
| Other comprehensive loss: | −81,909 | 0 | — | — | |
| Comprehensive loss | −13 | −6 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-09-30 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 3 | 3 | 7 | 24 | 12 | |
| Restricted cash | 0 | 106,918 | 215,357 | — | 224,618 | |
| Loans held for investment, net of allowance for credit losses of $179,450 and $469,011 | 30 | 78 | 121 | — | — | |
| Equity interest in unconsolidated investments | 36 | 40 | 10 | — | — | |
| Promissory note receivable (Note 6) | 45 | 0 | — | — | — | |
| Marketable securities | 425,357 | 507,266 | 0 | — | 0 | |
| Interest receivable | 274,088 | 1 | 1 | — | 1 | |
| Prepaid expenses and other assets | 385,795 | 515,407 | 177,240 | — | 314,945 | |
| Total assets | 116 | 124 | 140 | — | 125 | |
| Unsecured notes payable, net of purchase discount | 37 | 35 | 34 | — | 36 | |
| Term loan payable, net of deferred financing cost | 0 | 15 | 25 | — | — | |
| Obligation under participation agreement (Note 7) | 18 | 0 | — | — | — | |
| Interest payable from obligation under participation agreement | 259,153 | 0 | — | — | — | |
| Interest reserve and other deposits held on investments | 0 | 106,918 | 215,357 | — | 224,618 | |
| Other liabilities | 11,229 | 410,075 | 252,045 | — | 765,661 | |
| Accrued expenses | 114,498 | 254,716 | 582,816 | — | 651,637 | |
| Total liabilities | 55 | 51 | 60 | — | 51 | |
| Commitments and contingencies (Note 8) | — | — | — | — | — | |
| Members capital | 61 | 73 | 80 | — | — | |
| Total liabilities and members capital | 116 | 124 | 140 | — | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|
| Amortization of premiums and discounts on investments | 126,278 | 997,409 | — | — | |
| Amortization and accretion of investment-related fees, net | 122,382 | −317,918 | — | −1 | |
| Amortization of discount on debt | 1 | 1 | — | — | |
| Amortization of deferred financing costs | 51,396 | 98,604 | — | — | |
| Loss from equity interest in unconsolidated investments | 4 | 2 | — | — | |
| Decrease in interest receivable | 967,220 | 199,736 | — | −1 | |
| Decrease (increase) in prepaid expenses and other assets | 129,612 | −338,167 | — | 96,322 | |
| Decrease in accrued expenses | −140,218 | −328,100 | — | 201,875 | |
| Increase in interest payable from obligation under participation agreement | 259,153 | 0 | — | −93,618 | |
| (Decrease) increase in other liabilities | −396,644 | 149,229 | — | 745,093 | |
| Net cash (used in) provided by operating activities | −201,647 | 3 | — | −36 | |
| Repayment of loans | 43 | 42 | — | — | |
| Origination, funding and purchase of loans | −1 | −5 | — | — | |
| Capital contributions to equity interest in unconsolidated investments | −527 | −32 | — | — | |
| Funding of promissory note receivable | −54 | 0 | — | — | |
| Repayment of promissory note receivable | 9 | 0 | — | — | |
| Distributions from equity interest in unconsolidated investments | 266,115 | 472,000 | — | — | |
| Proceeds from redemption of held-to-maturity debt securities | 0 | 10 | — | — | |
| Purchase of held-to-maturity debt securities | 0 | −10 | — | — | |
| Purchase of marketable securities | 0 | −525,867 | 0 | — | |
| Net cash (used in) provided by investing activities | −3 | 4 | — | — | |
| Proceeds from obligation under participation agreement | 18 | 0 | — | — | |
| Repayment of term loan | −15 | −10 | — | — | |
| Change in interest reserve and other deposits held on investments | −106,918 | −108,439 | — | — | |
| Payment of financing costs | 0 | −150,000 | — | — | |
| Net cash provided by (used in) financing activities | 3 | −10 | — | — | |
| Net decrease in cash, cash equivalents and restricted cash | −291,547 | −3 | — | −2 | |
| Cash paid for interest | 6 | 4 | — | 4 | |
| Income taxes paid | 0 | 207,156 | — | — | |
| Settlement of a mezzanine loan accounted for as an equity investment in exchange for equity interest in a joint venture that owns real estate (Note 4) | 0 | 10 | — | — |
Filings
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