XML 49 R38.htm IDEA: XBRL DOCUMENT v3.22.4
BDC Merger - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($)
12 Months Ended
Oct. 01, 2022
Dec. 31, 2022
Dec. 31, 2021
Total Consideration      
Cash paid for fractional shares   $ 12,920 $ 0
Terra BDC      
Total Consideration      
Fair value of Terra Property Trust shares of common stock issued $ 71,054,620    
Cash paid for fractional shares 12,920    
Transaction costs 2,283,785    
Total Consideration 73,351,325    
Assets Acquired and Liabilities Assumed at Fair Value      
Cash and cash equivalents 24,321,951    
Restricted cash 260,614    
Interest receivable 1,367,044    
Other assets 55,465    
Term loan payable (25,000,000)    
Unsecured notes payable (33,770,000)    
Obligations under participation agreements (6,114,979)    
Interest reserve and other deposits held on investments (260,614)    
Due to manager (682,541)    
Interest payable (53,186)    
Accounts payable and accrued expenses (740,824)    
Other liabilities (387,446)    
Net assets acquired 73,351,325    
Terra BDC | Loans held for investment, net      
Assets Acquired and Liabilities Assumed at Fair Value      
Loans held for investment 77,562,528    
Terra BDC | Loans held for investment acquired through participation, net      
Assets Acquired and Liabilities Assumed at Fair Value      
Loans held for investment $ 36,793,313