TerraCap Management, LLC - Naples, Florida

Brigid G.

As a Fund IV investor, I am extremely pleased with the returns to date and the projected performance as we go forward. More importantly, I am very happy that the portfolio has not been effected in a negative way even though the equity markets has. The professionalism of each person I speak with at TerraCap has been nothing but great. I look forward to investing to continuing this relationship in Fund V.

Dierk R.

The Terracap 1 fund will create a loss (on an after expense basis) for limited partners while it has generate terrific fees for fund management and brokers involved in the transactions. The PM has not returned the incentive fees that belong to the limited partners. The PM continues to charge management fees on properties that are in default. While all of this may legal this results in negative returns while similar investments in distressed land at the time provided good returns.

Dierk R.

The Terracap 1 fund will likely create a capital loss for the limited partners over 8 years now while the general partner has charged large fees to the investors and limited partners. The general partner continues many crative ways to extract fees from LPs. ........Considering that the Florida land market has recovered and appreciated substantially over the last 8 years it took considerable skill to set up contracts and purchase land to achieve a likely zero or negative return for the LPs on the back of very material fees being extracted, irregularities in accounting, miss stated appraisals etc. etc. The investment thesis was correct, the implementation exceptionally poor.

The TerraCap 2018 Q3 capital statement shows losses again. These statements are very consistent and negative from the fees charged.

Hunter H.

I have leased Atlanta office properties on behalf of TerraCap for several years now. The TerraCap team is extremely knowledgeable and experienced operators. Their team is quick to make deals and very in tune with the ever changing market conditions.

Robert L.

Dierk is correct. Steve H. CEO and our GP has taken $4,000,000 in fees in the past 7 years while I and other LP's have seen less then 60% of our initial investment returned. When making his presentation to raise $25.8m he said all the properties would be sold within 5 years. He sold 7 with small profits. On 3 he lost almost $3,000,000. 1 is under partial contract and 4 remain unsold. He has not made any distributions to us for 3 1/2 years but has enriched himself in that same time frame with fees of about $1,500,000, although he had to have the fund borrow $2,500,000 to enable him to do so. He has now extended the fund for 2 more years and stated he will continue taking fees during that period. I WILL LOSE MONEY ON MY INVESTMENT! Whoever rated him with 5 stars in not an investor. There is not a single LP I know who still trusts him and I personally would not trust the man to walk my dog. Robert Lehr. Investor.

G S.

Worked with the TerraCap team for many years and nothing but positive experiences. Great real estate investors and very knowledgeable. Look forward to working with them in the future!

Kathleen K.

A professional firm with proven results. Steve H. is an investor with integrity and a passion to generate returns for his LP’s.

Alex G.

Very professional organization. Have enjoyed a long, beneficial relationship with TerraCap Management.