CDPQ invests USD 240 million to propel TerraPact’s growth in North America

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.”