| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Realized loss on investments, net | NaN | 0 | 0 | 0 |
| Net loss | -15,048,983 | -10,629,827 | -6,738,859 | -10,457,160 |
| Depreciation and amortization | 854,622 | 590,247 | 680,481 | 2,570,933 |
| Provision for credit losses | 6,927,419 | 6,848,379 | 2,425,296 | 3,493,917 |
| Impairment charge on real estate asset held for sale | 595,984 | 0 | 0 | 3,399,684 |
| Loss on sale of real estate, net | -560,634 | 0 | -823,995 | -2,056,550 |
| Loss on repayment of loan | NaN | 0 | 0 | NaN |
| Gain on extinguishment of debt | NaN | 548,625 | NaN | NaN |
| Amortization of net purchase premiums on loans | 0 | 0 | 0 | -6,913 |
| Straight-line rent adjustments | 2,198 | -1,414 | -11,598 | -68,807 |
| Amortization of deferred financing costs | 418,560 | 220,583 | 665,774 | 755,404 |
| Amortization of discount on unsecured notes payable | 546,239 | 532,772 | 519,712 | 999,594 |
| Amortization of above- and below-market rent intangibles | -190,883 | -190,883 | -201,252 | -758,255 |
| Amortization and accretion of investment-related fees, net | -1,170,305 | 52,151 | 95,745 | -680,413 |
| Unrealized loss on investments, net | 0 | 39,365 | 0 | -75 |
| Distributions received from equity interest in unconsolidated investments | 1,040,987 | 5,482,480 | 2,073,861 | 4,735,370 |
| Income from equity interest in unconsolidated investments | -660,007 | 2,337,462 | -795,029 | -4,825,707 |
| Interest receivable | 717,641 | 513,578 | 918,579 | 1,379,457 |
| Due from related parties | -15,562 | 170,423 | 388,150 | 325,737 |
| Other assets | -2,875,374 | -20,566 | 500,817 | 676,766 |
| Due to manager | -232,748 | -1 | 0 | -34,770 |
| Unearned income | -55,008 | 1,137 | -127,221 | 150,221 |
| Interest payable | 971,067 | -409,533 | -237,831 | -48,555 |
| Funding for promissory note receivable | NaN | 0 | 0 | 0 |
| Accounts payable and accrued expenses | -1,552,443 | 255,449 | -1,222,293 | 1,741,846 |
| Purchase of equity securities | NaN | 0 | 0 | 0 |
| Other liabilities | 1,001,481 | 422,385 | -206,743 | -2,569 |
| Proceeds from sale of trading equity securities | NaN | 0 | 0 | 0 |
| Net cash (used in) provided by operating activities | -1,477,281 | 4,155,660 | -4,254,998 | 2,013,137 |
| Proceeds from repayments of loans | 1,556,257 | 46,729,424 | 2,672,764 | 87,042,899 |
| Origination, purchase and funding of loans | 1,428,627 | 3,948,238 | 10,398,101 | 15,286,064 |
| Proceeds from sale of real estate | 20,599,454 | 0 | 55,292,305 | 13,831,028 |
| Real estate capital expenditures | NaN | 118,189 | NaN | NaN |
| Capital contributions to and purchase of equity interests in unconsolidated investments | 1,125,129 | 154,364 | 1,013,955 | 746,658 |
| Distributions in excess of income | 4,867,391 | 4,602,377 | 420,171 | 481,297 |
| Repayments of promissory note receivable | 0 | 0 | 0 | 1,182,759 |
| Net cash provided by investing activities | 24,469,346 | 47,111,010 | 46,973,184 | 86,505,261 |
| Repayments on secured financing | 13,282,500 | 28,904,992 | 50,890,362 | 91,059,190 |
| Proceeds from secured financing | 0 | 0 | 1,422,064 | 23,383,257 |
| Proceeds from obligations under participation agreements | 0 | 20,576 | 984,298 | 1,606,804 |
| Repayments on obligations under participation agreements | NaN | 0 | 2,591,102 | NaN |
| Repayments on unsecured notes payable | 36,824,025 | 4,188,000 | NaN | NaN |
| Distributions paid | 967,140 | 2,325,329 | 2,325,193 | 6,970,945 |
| Payment of deferred financing costs | 349,308 | 0 | 0 | 0 |
| Change in interest reserve and other deposits held on investments | -633,054 | 10,377 | -46,974 | -1,699,228 |
| Net cash used in financing activities | -52,056,027 | -35,387,368 | -53,447,269 | -74,739,302 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -29,063,962 | 15,879,302 | -10,729,083 | 13,779,096 |
| Cash, cash equivalents and restricted cash at beginning of period | 37,894,341 | 22,015,039 | 18,965,026 | NaN |
| Cash, cash equivalents and restricted cash at end of period (note 2) | 8,830,379 | 37,894,341 | 22,015,039 | NaN |
Terra Property Trust, Inc. (TPTA)
Terra Property Trust, Inc. (TPTA)