TerraPact has secured $240m (€228.3m) in senior financing from the Caisse de dépôt et placement du Québec (CDPQ) to expand its real estate portfolio across the US and in British Columbia, Canada.

The investment will also refinance TerraPact’s existing debt structure.

TerraPact is a real estate investment platform specialising in long-term ground leases and rights of way for critical infrastructure assets.

It oversees over 700 assets consisting of long-term ground leases and rights of way. The platform generates stable, long-term cash flows, with each site supporting essential digital, utility and energy infrastructure.

Marc Cormier, EVP and head of fixed income at CDPQ, said: “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.

“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.”

Ben Myers, CEO of TerraPact, said: “We are excited to continue our partnership with CDPQ. 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.”

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