0001581874-18-000015.txt : 20181109 0001581874-18-000015.hdr.sgml : 20181109 20181109144527 ACCESSION NUMBER: 0001581874-18-000015 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 47 CONFORMED PERIOD OF REPORT: 20180930 FILED AS OF DATE: 20181109 DATE AS OF CHANGE: 20181109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Terra Secured Income Fund 5, LLC CENTRAL INDEX KEY: 0001581874 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-55780 FILM NUMBER: 181172676 BUSINESS ADDRESS: STREET 1: 805 THIRD AVENUE STREET 2: 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-753-5100 MAIL ADDRESS: STREET 1: 805 THIRD AVENUE STREET 2: 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 10-Q 1 tsif59301810q.htm 10-Q Document


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
þ
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Quarterly Period Ended September 30, 2018
¨
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission File Number: 000-55780
Terra Secured Income Fund 5, LLC
(Exact name of registrant as specified in its charter)
Delaware
 
90-0967526
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
805 Third Avenue, 8th Floor
New York, New York 10022
(Address of principal executive offices)
(212) 753-5100
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ¨
Accelerated filer ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)
Smaller reporting company þ
 
Emerging growth company þ
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. þ
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ
As of November 9, 2018, the registrant had 6,643.4 units of limited liability company interests outstanding.

 



TABLE OF CONTENTS
 
 
Page
 
 
 
PART I
 
 
 
 
Item 1.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
PART II
 
 
 
 
Item 1.
 
 
 
Item 1A.
 
 
 
Item 2.
 
 
 
Item 3.
 
 
 
Item 4.
 
 
 
Item 5.
 
 
 
Item 6.
 
 



i


 


PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.
Terra Secured Income Fund 5, LLC
Consolidated Statements of Financial Condition

 
 
September 30, 2018
 
December 31, 2017
 
 
(unaudited)
 
 
Assets
 
 
 
 
Equity investment in Terra Property Trust, Inc. at fair value — controlled (cost
   of $268,335,112 and $275,401,972, respectively)
 
$
268,006,493

 
$
275,428,953

Cash and cash equivalents
 
130,899

 
212,366

Other assets
 
20,551

 
3,864

Total assets
 
$
268,157,943

 
$
275,645,183

 
 
 
 
 
Liabilities and Members’ Capital
 
 
 
 
Liabilities
 
 
 
 
Accounts payable and accrued expenses
 
$
165,048

 
$
95,728

Total liabilities
 
165,048

 
95,728

Commitments and contingencies (Note 6)
 

 

Members’ capital:
 
 
 
 
Managing member
 
—

 
—

Non-managing members
 
267,992,895

 
275,549,455

Total members’ capital
 
267,992,895

 
275,549,455

Total liabilities and members’ capital
 
$
268,157,943

 
$
275,645,183


See notes to consolidated financial statements (unaudited).
    

1


 



Terra Secured Income Fund 5, LLC
Consolidated Statements of Operations
(Unaudited)

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Investment income — controlled
 
 
 
 
 
 
 
Dividend income
$
5,487,805

 
$
4,448,792

 
$
17,829,718

 
$
15,703,171

Investment income
 
 
 
 
 
 
 
Other operating income
137

 
111

 
1,140

 
1,064

Total investment income
5,487,942

 
4,448,903

 
17,830,858

 
15,704,235

Operating expenses
 
 
 
 
 
 
 
Professional fees
126,966

 
104,100

 
334,802

 
431,465

Other
2,891

 
3,448

 
10,832

 
35,761

Total operating expenses
129,857

 
107,548

 
345,634

 
467,226

Net investment income
5,358,085

 
4,341,355

 
17,485,224

 
15,237,009

Net change in unrealized (depreciation)
appreciation on investment — controlled
(179,846
)
 
428,032

 
(355,600
)
 
920,026

Net increase in members’ capital resulting from
operations
$
5,178,239

 
$
4,769,387

 
$
17,129,624

 
$
16,157,035



See notes to consolidated financial statements (unaudited).


2


 


Terra Secured Income Fund 5, LLC
Consolidated Statements of Changes in Members’ Capital (Unaudited)
Nine Months Ended September 30, 2018 and 2017

 
Managing
Member
 
Non-Managing Members
 
Total
Balance, January 1, 2018
$
—

 
$
275,549,455

 
$
275,549,455

Capital distributions
—

 
(22,497,394
)
 
(22,497,394
)
Capital redemptions
—

 
(2,188,790
)
 
(2,188,790
)
Increase in members’ capital resulting from operations:
 
 
 
 
 
Net investment income
—

 
17,485,224

 
17,485,224

Net change in unrealized depreciation on investment
—

 
(355,600
)
 
(355,600
)
Net increase in members’ capital resulting from operations
—

 
17,129,624

 
17,129,624

Balance, September 30, 2018
$
—

 
$
267,992,895

 
$
267,992,895


 
Managing
Member
 
Non-Managing Members
 
Total
Balance, January 1, 2017
$
—

 
$
289,586,404

 
$
289,586,404

Capital distributions
—

 
(23,127,464
)
 
(23,127,464
)
Capital redemptions
—

 
(5,303,174
)
 
(5,303,174
)
Increase in members’ capital resulting from operations:
 
 
 
 

Net investment income
—

 
15,237,009

 
15,237,009

Net change in unrealized appreciation on investment
—

 
920,026

 
920,026

Net increase in members’ capital resulting from operations
—

 
16,157,035

 
16,157,035

Balance, September 30, 2017
$
—

 
$
277,312,801

 
$
277,312,801



See notes to consolidated financial statements (unaudited).


3


 


Terra Secured Income Fund 5, LLC
Consolidated Statements of Cash Flows
(Unaudited)

 
Nine Months Ended September 30,
 
2018
 
2017
Cash flows from operating activities:
 
 
 
Net increase in members’ capital resulting from operations
$
17,129,624

 
$
16,157,035

Adjustments to reconcile net increase in members’ capital resulting from
   operations to net cash provided by operating activities:
 
 
 
Return of capital on investment
7,066,860

 
14,012,486

Net change in unrealized depreciation (appreciation) on investment
355,600

 
(920,026
)
 
 
 
 
Changes in operating assets and liabilities:
 
 
 
(Increase) decrease in other assets
(16,716
)
 
898

Increase (decrease) in accounts payable and accrued expenses
69,320

 
(251,702
)
Decrease in due to Terra Property Trust, Inc.
—

 
(463,249
)
Net cash provided by operating activities
24,604,688

 
28,535,442

 
 
 
 
Cash flows from financing activities:
 
 
 
Distributions paid
(22,497,365
)
 
(23,129,410
)
Payments for capital redemptions
(2,188,790
)
 
(5,279,768
)
Net cash used in financing activities
(24,686,155
)
 
(28,409,178
)
 
 
 
 
Net (decrease) increase in cash and cash equivalents
(81,467
)
 
126,264

Cash and cash equivalents at beginning of period
212,366

 
41,520

Cash and cash equivalents at end of period
$
130,899

 
$
167,784

 
 
 
 
Supplemental Disclosure of Cash Flows Information:
 
 
 
Cash paid for income taxes
$
—

 
$
—

Cash paid for interest
$
—

 
$
—




See notes to consolidated financial statements (unaudited).

4


 


Terra Secured Income Fund 5, LLC
Consolidated Schedules of Investments
September 30, 2018 (unaudited) and December 31, 2017

As of September 30, 2018 and December 31, 2017, the Company’s only investment is its equity interest in a wholly-owned subsidiary as presented below:
 
 
 
 
Number of Shares of Common Stock
 
September 30, 2018
 
December 31, 2017
Investment — Controlled
 
Date Acquired
 
 
Cost
 
Fair Value
 
% of Members’ Capital
 
Cost
 
Fair Value
 
% of Members’ Capital
Terra Property Trust, Inc. — 100% Owned
 
1/1/2016 and 3/7/2016
 
14,912,990

 
$
268,335,112

 
$
268,006,493

 
100.0
%
 
$
275,401,972

 
$
275,428,953

 
100.0
%

The following table presents a schedule of loans held for investment by Terra Property Trust, Inc. (“Terra Property Trust”), the Company’s wholly-owned subsidiary, as of September 30, 2018:
Portfolio Company
Collateral Location
Property
Type
Coupon
Rate
Current Interest Rate
Exit Fee
Acquisition Date
Maturity
Date
Principal Amount
Amortized
Cost
Fair
Value (1)
% (2)
Loans held for investment — non-controlled:
 
 
 
 
 
 
 
 
 
 
 
Mezzanine loans:
 
 
 
 
 
 
 
 
 
 
 
150 Blackstone River Road, LLC
US - MA
Industrial
8.5
%
8.5
%
—
%
9/21/2017
9/6/2027
$
7,000,000

$
7,000,000

$
6,799,810

2.5
%
140 Schermerhorn Street Mezz LLC (3)(5)(6)
US - NY
Hotel
12.0
%
12.0
%
1.0
%
11/16/2016
12/1/2019
15,000,000

15,130,200

15,174,078

5.7
%
221 W. 17th Street Owner, LLC (3)(4)(5)
US - NY
Condominium
12.8
%
12.8
%
1.0
%
1/19/2018
3/31/2019
4,700,000

4,744,073

4,745,028

1.8
%
2539 Morse, LLC (3)(4)(5)
US - CA
Student housing
11.0
%
11.0
%
1.0
%
10/20/2017
11/1/2020
4,666,666

4,703,686

4,708,032

1.8
%
37 Gables Member LLC (4)(5) 
US - FL
Multifamily
13.0
%
13.0
%
1.0
%
6/16/2016
6/16/2019
5,750,000

5,802,382

5,806,875

2.2
%
575 CAD I LLC (3)(4)(5)
US - NY
Condominium
12.0% current
2.5% PIK

14.5
%
1.0
%
1/31/2017
7/31/2019
14,517,192

14,641,091

14,644,145

5.5
%
Austin H. I. Owner LLC (3)(5)
US - TX
Hotel
12.5
%
12.5
%
1.0
%
9/30/2015
10/6/2020
3,500,000

3,527,143

3,505,642

1.3
%
CGI 1100 Biscayne Management Holdco, LLC (5)(6)(7)
US - FL
Hotel
12.0% current
4.0% PIK

16.0
%
1.0
%
11/17/2017
5/17/2019
23,450,016

23,653,730

23,672,509

8.8
%
High Pointe Mezzanine Investments, LLC (4)(5)
US - SC
Student housing
13.0
%
13.0
%
1.0
%
12/27/2013
1/6/2024
3,000,000

3,337,345

3,059,075

1.1
%
Kingsport 925-Mezz LLC (4)(5)
US - TN
Multifamily
13.0
%
13.0
%
1.0
%
1/6/2014
12/5/2018
3,000,000

3,045,087

3,037,332

1.1
%
KOP Hotel XXXI Mezz LP (3)(5)(8)
US - PA
Hotel
13.0
%
13.0
%
0.5
%
11/24/2015
12/6/2022
1,800,000

1,805,201

1,809,101

0.7
%
LD Milipitas Mezz, LLC (8)(9)
US - CA
Hotel
LIBOR +10.25% (2.75% Floor)

13.0
%
1.0
%
6/27/2018
6/27/2021
—

—

—

—
%
Northland Museo Member, LLC (4)(5)
US - TX
Multifamily
12.0
%
12.0
%
—
%
11/22/2013
12/6/2018
4,000,000

3,995,372

4,000,000

1.5
%
SparQ Mezz Borrower, LLC
US - CA
Multifamily
12.0
%
12.0
%
1.0
%
9/29/2017
10/1/2020
7,620,000

7,679,794

7,687,489

2.9
%
Stonewall Station Mezz LLC (5)(6)
US - NC
Hotel
12.0% current
2.0% PIK

14.0
%
1.0
%
6/1/2018
5/20/2021
8,059,559

8,114,824

8,122,926

3.0
%
WWML96MEZZ, LLC
US - NY
Condominium
13.0
%
13.0
%
1.0
%
12/18/2015
12/31/2018
14,337,270

14,476,020

14,479,085

5.4
%
 
 
 
 
 
 
 
 
120,400,703

121,655,948

121,251,127

45.3
%

5


 


Terra Secured Income Fund 5, LLC
Consolidated Schedule of Investments (Continued)
September 30, 2018 (unaudited) and December 31, 2017

Terra Property Trust Schedule of Loans Held for Investment as of September 30, 2018 (Continued):
Portfolio Company
Collateral Location
Property
Type
Coupon
Rate
Current Interest Rate
Exit Fee
Acquisition Date
Maturity
Date
Principal Amount
Amortized
Cost
Fair
Value (1)
% (2)
Loans held for investment — non-controlled:
 
 
 
 
 
 
 
 
 
 
 
Preferred equity investments:
 
 
 
 
 
 
 
 
 
 
 
ASA Mgt. Holdings, LLC
US - AL
Multifamily
16.0
%
16.0
%
1.0
%
4/7/2012
8/1/2022
$
2,100,000

$
2,136,357

$
2,120,720

0.8
 %
City Gardens 333 LLC (5)(6)(7)
US - CA
Student housing
LIBOR + 9.95% (2.0% Floor)

12.2
%
—
%
4/11/2018
4/1/2021
19,497,232

19,497,232

19,497,232

7.3
 %
Greystone Gables Holdings Member LLC (4)(5)
US - FL
Multifamily
13.0
%
13.0
%
1.0
%
6/16/2016
6/16/2019
500,000

504,555

504,946

0.2
 %
L.A. Warner Hotel Partners, LLC (3)(4)(5)(10)
US - CA
Hotel
12.0
%
12.0
%
1.0
%
7/25/2014
8/2/2019
32,100,000

32,541,303

32,417,778

12.1
 %
NB Private Capital, LLC (5)(6)(7)
US - IL
Student housing
LIBOR +10.5% (3.5% Floor)

14.0
%
1.0
%
7/27/2018
7/27/2020
25,500,000

25,598,552

25,598,552

9.6
 %
Nelson Brothers Professional Real Estate, LLC
US - OH
Student housing
14.0
%
14.0
%
1.0
%
7/27/2016
2/1/2019
4,575,000

4,620,750

4,620,215

1.7
 %
Orange Grove Property Investors, LLC (5)(6)
US - CA
Condominium
LIBOR + 8.0% (4.0% Floor)

12.0
%
1.0
%
5/24/2018
6/1/2021
8,350,000

8,410,443

8,414,279

3.1
 %
REEC Harlem Holdings Company, LLC
US - NY
Infill land
LIBOR + 12.5% (no Floor)

14.8
%
—
%
3/9/2018
3/9/2023
20,619,375

20,619,375

20,619,375

7.7
 %
RS JZ Driggs, LLC (5)(6)
US - NY
Multifamily
12.3
%
12.3
%
1.0
%
5/1/2018
5/1/2020
2,384,501

2,404,103

2,404,103

0.9
 %
SVA Mgt. Holdings, LLC
US - AL
Multifamily
16.0
%
16.0
%
1.0
%
4/7/2012
8/1/2022
1,600,000

1,629,622

1,615,786

0.6
 %
The Bristol at Southport, LLC (3)(4)(5)(7)
US - WA
Multifamily
10.0% current
2.0% PIK

12.0
%
1.0
%
9/22/2017
9/22/2022
22,984,018

23,123,032

23,030,885

8.6
 %
Windy Hill PV Seven CM, LLC
US - CA
Office
10.0% current
2.5% PIK

12.5
%
1.0
%
1/9/2018
1/9/2021
15,149,586

15,262,246

15,262,246

5.7
 %
WWML96, LLC
US - NY
Condominium
13.0
%
13.0
%
1.0
%
12/18/2015
12/31/2018
1,549,420

1,564,414

1,564,746

0.6
 %
 
 
 
 
 
 
 
 
156,909,132

157,911,984

157,670,863

58.9
 %
First mortgages:
 
 
 
 
 
 
 
 
 
 
 
Millennium Waterfront Associates, L.P.
US - PA
Infill land
12.0
%
12.0
%
1.0
%
7/2/2015
12/28/2018
14,325,000

14,468,250

14,466,812

5.4
 %
OHM Atlanta Owner, LLC (5)(6)(7)
US - GA
Infill land
LIBOR + 9.0% (3.0% Floor)

12.0
%
1.0
%
6/20/2017
12/20/2018
27,500,000

27,775,000

27,772,240

10.4
 %
TSG-Parcel 1, LLC (3)(5)(6)
US - CA
Infill land
LIBOR + 10.0% (2.0% Floor)

12.3
%
1.0
%
7/10/2015
12/31/2018
18,000,000

18,180,000

18,178,154

6.8
 %
 
 
 
 
 
 
 
 
59,825,000

60,423,250

60,417,206

22.6
 %
 
 
 
 
 
 
 
 
 
 
 
 
Total gross loans held for investment
 
 
 
 
 
 
 
337,134,835

339,991,182

339,339,196

126.6
 %
Obligations under participation agreements (3)(4)(5)(6)(7)
 
 
 
 
 
 
(99,800,355
)
(100,740,686
)
(100,562,730
)
(37.5
)%
Allowance for loan losses
 
 
 
 
 
 
 
—

(375,603
)
—

—
 %
Net loans held for investment (11)
 
 
 
 
 
 
 
$
237,334,480

$
238,874,893

$
238,776,466

89.1
 %

6


 


Terra Secured Income Fund 5, LLC
Consolidated Schedule of Investments (Continued)
September 30, 2018 (unaudited) and December 31, 2017


___________________________ 
(1)
Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra REIT Advisors, LLC (“Terra REIT Advisors”), Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy.
(2)
Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $268.0 million as of September 30, 2018.
(3)
Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra REIT Advisors.
(4)
Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra REIT Advisors.
(5)
The loan participations from Terra Property Trust do not qualify for sale accounting under Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition.
(6)
Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors, LLC (“Terra Income Advisors”), an affiliate of our sponsor and Terra Property Trust’s manager.
(7)
Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by Terra REIT Advisors.
(8)
Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement.
(9)
On June 27, 2018, Terra Property Trust entered into a participation agreement with Terra Income Fund 6, Inc. to purchase a 25% interest, or $4.3 million, in a mezzanine loan. As of September 30, 2018, none of the commitment has been funded.
(10)
This loan was repaid on October 17, 2018.
(11)
In addition to its net loan portfolio, on July 30, 2018, Terra Property Trust foreclosed on a multi-tenant office building encumbering a $54.0 million first mortgage in exchange for the relief of the first mortgage and related fees and expenses. As of September 30, 2018, the office building had a carrying value of $56.8 million and the mortgage loan payable encumbering the office building was $44.8 million for a net carrying value of approximately $12.0 million.

    

7


 


Terra Secured Income Fund 5, LLC
Consolidated Schedule of Investments (Continued)
September 30, 2018 (unaudited) and December 31, 2017
    
The following table presents a schedule of loans held for investment held by Terra Property Trust as of December 31, 2017:
Collateral Location
Portfolio Company
Structure
Property
Type
Coupon
Rate
Acquisition Date
Maturity
Date
Principal Amount
Amortized
Cost
Fair
Value (1)
% (2)
 
Loans held for investment — non-controlled:
 
 
 
 
 
 
 
 
US - AL
ASA Mgt. Holdings, LLC
Preferred equity investment
Multifamily
16.0
%
4/7/2012
8/1/2022
$
2,100,000

$
2,139,967

$
2,120,720

0.8
%
 
SVA Mgt. Holdings, LLC
Preferred equity investment
Multifamily
16.0
%
4/7/2012
8/1/2022
1,600,000

1,632,749

1,615,787

0.6
%
 
Total US - AL
 
 
 
 
 
3,700,000

3,772,716

3,736,507

1.4
%
US - CA
2539 Morse, LLC
Mezzanine loan
Student
   housing
11.0
%
10/20/2017
11/1/2020
2,333,333

2,350,365

2,352,364

0.9
%
 
Palmer City-Core Stockton Street, LLC (3)
Preferred equity investment
Hotel
12.0
%
1/17/2014
1/17/2018
4,325,000

4,368,250

4,367,816

1.6
%
 
Maguire Partners-1733 Ocean, LLC
First mortgage
Office
LIBOR+8.5%

3/7/2016
3/9/2018
53,749,794

54,277,021

54,282,803

19.7
%
 
L.A. Warner Hotel Partners, LLC (4)(5)(6)
Preferred equity investment
Hotel
12.0
%
7/25/2014
8/4/2018
32,100,000

32,640,675

32,417,778

11.8
%
 
TSG-Parcel 1, LLC (4)(6)(7)
First mortgage
Infill land
12.0
%
7/10/2015
4/10/2018
18,000,000

18,180,000

18,178,193

6.6
%
 
SparQ Mezz Borrower, LLC (8)
Mezzanine loan
Multifamily
12.0
%
9/29/2017
10/1/2020
449,140

452,358

452,772

0.2
%
 
Total US - CA
 
 
 
 
 
110,957,267

112,268,669

112,051,726

40.8
%
US - DE
BPG Office Partners III/IV LLC (4)(5)(6)
Mezzanine loan
Office
13.5
%
6/5/2015
6/5/2018
10,000,000

10,094,309

10,098,872

3.7
%
US - FL
CGI 1100 Biscayne Management
   Holdco, LLC (6)(7)(9)
Mezzanine loan
Hotel
12.0% current
4.0% PIK

11/17/2017
5/17/2019
24,522,523

24,717,857

24,734,246

9.0
%
 
37 Gables Member LLC (5)(6) 
Mezzanine loan
Multifamily
13.0
%
6/16/2016
6/16/2019
5,750,000

5,797,477

5,804,127

2.1
%
 
Greystone Gables Holdings Member
   LLC (5)(6)
Preferred equity investment
Multifamily
13.0
%
6/16/2016
6/16/2019
500,000

504,129

504,707

0.2
%
 
RS JZ 2700 NW2, LLC (4)(6)
First mortgage
Infill land
12.0
%
9/1/2016
3/1/2018
21,360,000

21,573,600

21,571,456

7.8
%
 
Total US - FL
 
 
 
 
 
52,132,523

52,593,063

52,614,536

19.1
%
US - GA
YMP Georgia Portfolio Mezzanine, LLC
Mezzanine loan
Multifamily
14.0
%
12/19/2013
1/6/2019
3,500,000

3,663,309

3,535,027

1.3
%
 
OHM Atlanta Owner, LLC (6)(7)(9)
First mortgage
Infill land
12.0
%
6/20/2017
6/20/2018
27,500,000

27,759,721

27,759,721

10.1
%
 
Total US - GA
 
 
 
 
 
31,000,000

31,423,030

31,294,748

11.4
%
US - IN
Muncie Mezz, LLC
Mezzanine loan
Student
housing
13.0
%
8/29/2013
9/6/2023
2,700,000

2,689,608

3,033,655

1.1
%
US - MA
150 Blackstone River Road, LLC
Mezzanine loan
Industrial
8.5
%
9/21/2017
9/6/2027
7,000,000

7,000,000

7,000,000

2.5
%
US - NC
Milestone Greensboro Holdings,
   LLC (5)(6)
Mezzanine loan
Hotel
14.0
%
3/1/2013
3/1/2018
3,500,000

3,537,223

3,534,591

1.3
%




8


 


Terra Secured Income Fund 5, LLC
Consolidated Schedule of Investments (Continued)
September 30, 2018 (unaudited) and December 31, 2017

Terra Property Trust Schedule of Loans Held for Investment as of December 31, 2017 (Continued):
Collateral Location
Portfolio Company
Structure
Property
Type
Coupon
Rate
Acquisition Date
Maturity
Date
Principal Amount
Amortized
Cost
Fair
Value (1)
% (2)
 
Loans held for investment — non-controlled:
 
 
 
 
 
 
 
 
US - NY
Cape Church Mezz, LLC (5)(6)(10)
Mezzanine loan
Condominium
12.0
%
3/15/2016
7/15/2019
$
17,178,883

$
17,321,426

$
17,348,948

6.3
 %
 
140 Schermerhorn Street Mezz LLC (4)(6)(7)
Mezzanine loan
Hotel
12.0
%
11/16/2016
12/1/2019
15,000,000

15,118,900

15,131,264

5.5
 %
 
575 CAD I LLC
Mezzanine loan
Condominium
12.0% current
2.5% PIK

1/31/2017
8/1/2019
12,512,370

12,609,885

12,612,289

4.6
 %
 
WWML96MEZZ, LLC
Mezzanine loan
Condominium
13.0
%
12/18/2015
12/31/2018
9,925,340

10,012,399

10,023,515

3.6
 %
 
WWML96, LLC
Preferred equity investment
Condominium
13.0
%
12/18/2015
12/31/2018
1,486,171

1,499,206

1,500,871

0.5
 %
 
Total US - NY
 
 
 
 
 
56,102,764

56,561,816

56,616,887

20.5
 %
US - OR
Pollin Hotels PDX Mezzanine, LLC (5)(6)
Mezzanine loan
Hotel
13.0
%
9/23/2013
10/6/2018
5,000,000

5,181,187

5,196,794

1.9
 %
US - PA
Millennium Waterfront Associates, L.P.
First mortgage
Infill land
12.0
%
7/2/2015
12/28/2018
14,325,000

14,468,250

14,466,812

5.3
 %
US - SC
High Pointe Mezzanine Investments,
   LLC (5)(6)
Mezzanine loan
Student
housing
13.0
%
12/27/2013
1/6/2024
3,000,000

3,381,980

3,416,021

1.2
 %
US - TN
Kingsport 925-Mezz LLC (5)(6)
Mezzanine loan
Multifamily
13.0
%
1/6/2014
12/5/2018
3,000,000

3,115,146

3,099,690

1.1
 %
US - TX
Northland Museo Member, LLC (5)(6)
Mezzanine loan
Multifamily
12.0
%
11/22/2013
12/6/2018
4,000,000

3,974,543

4,054,106

1.5
 %
 
Austin H. I. Owner LLC (4)(6)
Mezzanine loan
Hotel
12.5
%
9/30/2015
10/6/2020
3,500,000

3,524,694

3,527,956

1.3
 %
 
AHF-Heritage #1, LLC
Mezzanine loan
Multifamily
14.0
%
7/30/2012
8/11/2022
1,131,243

1,223,634

1,142,423

0.4
 %
 
Total US - TX
 
 
 
 
 
8,631,243

8,722,871

8,724,485

3.2
 %
US - UT
NB Factory JV, LLC (6)(7)
Preferred equity
   investment
Student
   housing
15.0
%
6/29/2017
6/26/2020
3,595,670

3,595,670

3,595,670

1.2
 %
US - WA
The Bristol at Southport, LLC (6)(9)
Preferred equity
   investment
Multifamily
10.0% current
2.0% PIK

9/22/2017
9/22/2022
22,616,528

22,743,477

22,807,927

8.3
 %
US - Various
Nelson Brothers Professional Real
   Estate, LLC
Preferred equity
   investment
Student
   housing
14.0
%
8/31/2016
2/1/2019
14,000,000

14,140,000

14,138,248

5.1
 %
 
Total loans held for investment — non-controlled:
 
 
 
 
351,260,995

355,289,015

355,427,169

129.1
 %
 
 
 
 
 
 
 
 
 
 
 
 
Loan held for investment through participation interest — non-controlled (11):
 
 
 
 
 
 
 
US - PA
KOP Hotel XXXI Mezz LP (4)(6)
Participation in
mezzanine loan
Hotel
13.0
%
11/24/2015
12/6/2022
1,800,000

1,804,715

1,807,503

0.7
 %
 
Total loan held for investment through participation interest — non-controlled
 
 
 
1,800,000

1,804,715

1,807,503

0.7
 %
 
 
 
 
 
 
 
 
 
 
 
 
Total gross loans held for investment
 
 
 
 
 
353,060,995

357,093,730

357,234,672

129.7
 %
 
Obligations under participation agreements (4)(5)(6)(7)(9)
 
 
 
 
(75,077,891
)
(76,053,279
)
(75,991,436
)
(27.6
)%
 
Net loans held for investment
 
 
 
 
 
$
277,983,104

$
281,040,451

$
281,243,236

102.1
 %


9


 


Terra Secured Income Fund 5, LLC
Consolidated Schedule of Investments (Continued)
September 30, 2018 (unaudited) and December 31, 2017

Terra Property Trust Schedule of Loans Held for Investment as of December 31, 2017 (Continued):

___________________________ 
(1)
Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra Income Advisors, Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy.
(2)
Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $275.4 million as of December 31, 2017.
(3)
This loan was repaid on January 17, 2018.
(4)
Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra Income Advisors.
(5)
Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra Income Advisors.
(6)
The loan participations from Terra Property Trust do not qualify for sale accounting under ASC Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition.
(7)
Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors.
(8)
On September 29, 2017, Terra Property Trust entered into agreement with the borrower to provide funding commitment of up to $8.7 million. As of December 31, 2017, $0.4 million has been funded.
(9)
Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by a subsidiary of Terra Income Advisors.
(10)
This loan was repaid on January 26, 2018.
(11)
Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement.

See notes to consolidated financial statements (unaudited).


10


 

Notes to Consolidated Financial Statements (unaudited)

Terra Secured Income Fund 5, LLC
Notes to Consolidated Financial Statements (Unaudited)
September 30, 2018

Note 1. Business
 
Terra Secured Income Fund 5, LLC (and, together with its consolidated subsidiaries, the “Company”), is a specialized real estate finance company that originates, structures, funds and manages high yielding commercial real estate investments, including mezzanine loans, first mortgage loans, subordinated mortgage loans and preferred equity investments throughout the United States. The Company’s investments finance the acquisition, construction, development or redevelopment of quality commercial real estate in the United States. The Company focuses on smaller, middle market loans in the approximately $3 million to $50 million range which are financing properties in primary and secondary markets because it believes these loans are subject to less competition, offer higher risk adjusted returns than larger loans with similar risk metrics and facilitate portfolio diversification. The Company was formed as a Delaware limited liability company on April 24, 2013 and commenced operations on August 8, 2013. The Company makes substantially all of its investments and conduct substantially all of its real estate lending business through Terra Property Trust, which has elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016. The Company’s objectives are to (i) preserve its members’ capital contributions, (ii) realize income from its investments and (iii) make monthly distributions to its members from cash generated from investments. There can be no assurances that the Company will be successful in meeting its objectives.

In December 2015, the members approved the merger of Terra Secured Income Fund, LLC (“Terra Fund 1”), Terra Secured Income Fund 2, LLC (“Terra Fund 2”), Terra Secured Income Fund 3, LLC (“Terra Fund 3”) and Terra Secured Income Fund 4, LLC (“Terra Fund 4”) with and into subsidiaries of the Company (individually, each a “Terra Fund” and collectively, the “Terra Funds”) through a series of separate mergers effective January 1, 2016 (collectively, the “Merger”). Following the Merger, the Company contributed the consolidated portfolio of net assets of the five Terra Funds to Terra Property Trust, a newly-formed and wholly-owned subsidiary of the Company that elected to be taxed as a REIT, in exchange for the shares of common stock of Terra Property Trust. Upon completion of the Merger, the Company became the parent company of Terra Funds 1 through 4 and the direct and indirect sole common stockholder of, and began conducting substantially all of its real estate lending business through, Terra Property Trust. The Company does not consolidate Terra Property Trust as Terra Property Trust is not an investment company.

The Company’s investment activities were externally managed by Terra Income Advisors, a private investment firm affiliated with the Company until February 8, 2018 when Terra Capital Partners, LLC (“Terra Capital Partners”), the Company’s sponsor, caused a new subsidiary of Terra Capital Partners, Terra Fund Advisors, LLC (“Terra Fund Advisors”), to be admitted as the replacement manager of the Company. When used herein the term “Manager” refers to Terra Income Advisors for periods prior to February 8, 2018 and refers to Terra Fund Advisors beginning on such date. The Company does not currently have any employees and does not expect to have any employees. Services necessary for the Company’s business are provided by individuals who are employees of the Manager or its affiliates or by individuals who were contracted by the Company or by the Manager or its affiliates to work on behalf of the Company pursuant to the terms of the operating agreement, as amended.

The Company will continue in existence until December 31, 2023; however, the Company expects to be terminated or to consummate an alternative liquidity transaction on or prior to the five-year anniversary of the completion of the Company’s original offering, which was January 31, 2015, unless extended for up to a maximum of two one-year extensions at the discretion of the Manager, in order to facilitate an orderly liquidation or to consummate such alternative liquidity transaction.

Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and include all of the Company’s accounts and those of its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The accompanying interim financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company is an investment company, as defined under U.S. GAAP, and applies accounting and reporting guidance in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 946, Financial Services - Investment Companies.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the

11


 

Notes to Consolidated Financial Statements (unaudited)

date of the consolidated financial statements and the reported amounts of gains (losses), income and expenses during the reporting period. Actual results could significantly differ from those estimates. The most significant estimates inherent in the preparation of the Company’s consolidated financial statements is the valuation of investments (Note 3).

Equity Investment in Terra Property Trust

Equity investment in Terra Property Trust represents the Company’s equity interest in Terra Property Trust, which was initially recorded at cost. Subsequent to the asset contribution, the equity investment is reported, at each reporting date, at fair value on the consolidated statements of financial condition. Change in fair value is reported in net change in unrealized appreciation or depreciation on investment on the consolidated statements of operations.

Revenue Recognition

Dividend Income: Dividend income associated with the Company’s ownership of Terra Property Trust is recognized on the record date as declared by Terra Property Trust. Any excess of dividends over Terra Property Trust’s net income are recorded as return of capital.

Other Operating Income: All other income is recognized when earned.

Cash and Cash Equivalents

The Company considers all highly liquid investments, with original maturities of ninety days or less when purchased, as cash equivalents. Cash and cash equivalents are exposed to concentrations of credit risk. The Company maintains all of its cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation.
 
Income Taxes

No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of the Company’s taxable income. The Company, however, may be liable for New York City Unincorporated Business Tax (the “NYC UBT”) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the three and nine months ended September 30, 2018 and 2017, none of the Company’s income was subject to the NYC UBT.

Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the consolidated financial statements and tax basis assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Such deferred tax assets and liabilities were not material.

The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, Income Taxes, nor did the Company have any unrecognized tax benefits as of the periods presented herein. The Company recognizes interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in its consolidated statements of operations. For the three and nine months ended September 30, 2018 and 2017, the Company did not incur any interest or penalties. Although the Company files federal and state tax returns, its primary tax jurisdiction is federal. The Company’s inception-to-date federal tax years remain subject to examination by the Internal Revenue Service.

Recent Accounting Pronouncement
    
In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. The Company adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on its consolidated financial statements and disclosures.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity’s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value

12


 

Notes to Consolidated Financial Statements (unaudited)

of financial instruments. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on its consolidated financial statements and disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on the Company’s consolidated financial statements and disclosures as the Company does not have any lease arrangements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB’s Emerging Issues Task Force (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on its consolidated financial statements and disclosures.

In June 2018, the Securities and Exchange Commission (the “SEC”) adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a “smaller reporting company” if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on the Company.
    
In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements and disclosures.

In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the “Final Rule”). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders’ equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November 5, 2018; however, the SEC would not object if a filer’s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. The Company intends to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on the Company’s consolidated financial statements and disclosures.
    
Note 3. Investment and Fair Value

Equity Investment in Terra Property Trust

The Company invests substantially all of its equity capital in the purchase of common shares of Terra Property Trust.


13


 

Notes to Consolidated Financial Statements (unaudited)

The following table presents a summary of the Company’s investment at September 30, 2018 and December 31, 2017:
 
 
September 30, 2018
 
December 31, 2017
Investment
 
Cost
 
Fair Value
 
% of Members’ Capital
 
Cost
 
Fair Value
 
% of Members’ Capital
14,912,990 common shares
   of Terra Property Trust, Inc.
 
$
268,335,112

 
$
268,006,493

 
100.0
%
 
$
275,401,972

 
$
275,428,953

 
100.0
%

For the three months ended September 30, 2018 and 2017, the Company received approximately $8.1 million and $13.1 million of distributions from Terra Property Trust, respectively, of which $2.6 million and $8.7 million was a return of capital, respectively. For the nine months ended September 30, 2018 and 2017, the Company received approximately $24.9 million and $29.7 million of distributions from Terra Property Trust, respectively, of which $7.1 million and $14.0 million were returns of capital, respectively.

The following tables present the summarized financial information of Terra Property Trust:
 
 
September 30, 2018
 
December 31, 2017
Carrying value of loans held for investment
 
$
339,615,579

 
$
357,093,730

Real estate owned, net
 
56,756,051

 
—

Other assets
 
41,064,173

 
51,899,445

Total assets
 
437,435,803

 
408,993,175

Mortgage loan payable and obligations under participation agreements
 
(145,573,187
)
 
(110,175,525
)
Accounts payable, accrued expenses and other liabilities
 
(23,431,489
)
 
(23,307,944
)
Total liabilities
 
(169,004,676
)
 
(133,483,469
)
Stockholder’s equity
 
$
268,431,127

 
$
275,509,706

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30, 2018
 
 
2018
 
2017
 
2018
 
2017
Revenues
 
$
12,788,205

 
$
9,651,677

 
$
35,751,197

 
$
28,197,274

Expenses
 
(7,300,400
)
 
(4,598,716
)
 
(17,921,479
)
 
(12,379,894
)
Realized gain on investments
 
—

 
(604,169
)
 
—

 
(114,209
)
Net income
 
$
5,487,805

 
$
4,448,792

 
$
17,829,718

 
$
15,703,171


Fair Value Measurements

The Company adopted the provisions of ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 established a fair value hierarchy that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Investments measured and reported at fair value are classified and disclosed into one of the following categories based on the inputs as follows:

        Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access.

        Level 2 — Pricing inputs are other than quoted prices in active markets, including, but not limited to, quoted prices for similar assets and liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.


14


 

Notes to Consolidated Financial Statements (unaudited)

        Level 3 — Significant unobservable inputs are based on the best information available in the circumstances, to the extent observable inputs are not available, including the Company’s own assumptions used in determining the fair value of investments. Fair value for these investments are determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance, and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment.
       
     In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.
    
Assets and Liabilities Reported at Fair Value

The following table summarizes the Company’s equity investment in Terra Property Trust at fair value on a recurring basis as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
268,006,493

 
$
268,006,493


 
December 31, 2017
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
275,428,953

 
$
275,428,953


Changes in Level 3 investment for the nine months ended September 30, 2018 and 2017 were as follows:
 
 
Equity Investment in Terra Property Trust
 
 
Nine Months Ended September 30,
 
 
2018
 
2017
Beginning balance
 
$
275,428,953

 
$
290,419,317

Return of capital
 
(7,066,860
)
 
(14,012,486
)
Net change in unrealized (depreciation) appreciation on investment
 
(355,600
)
 
920,026

Ending balance
 
$
268,006,493

 
$
277,326,857

Net change in unrealized (depreciation) appreciation on investment for the period
   relating to those Level 3 assets that were still held by the Company
 
$
(355,600
)
 
$
920,026


Transfers between levels, if any, are recognized at the beginning of the period in which transfers occur. For the three and nine months ended September 30, 2018 and 2017, there were no transfers.

The Company estimated that its other financial assets and liabilities had fair values that approximated their carrying values at September 30, 2018 and December 31, 2017 due to their short-term nature.

Valuation Process for Fair Value Measurement

Market quotations are not readily available for the Company’s investment in Terra Property Trust, which is included in Level 3 of the fair value hierarchy. The fair value of the Company’s sole investment takes into consideration the fair value of Terra Property Trust’s assets and liabilities which are valued utilizing a yield approach, i.e. a discounted cash flow methodology. Terra Property Trust’s valuation considers fair value of each respective loan held for investment in the portfolio using an estimated

15


 

Notes to Consolidated Financial Statements (unaudited)

market yield. In following this methodology, loans are evaluated individually, and management takes into account, in determining the risk-adjusted discount rate for each of the Company’s loans, relevant factors, including available current market data on applicable yields of comparable debt/preferred equity instruments; market credit spreads and yield curves; the investment’s yield; covenants of the investment, including prepayment provisions; the portfolio company’s ability to make payments, its net operating income, debt-service coverage ratio (“DSCR”); construction progress reports and construction budget analysis; the nature, quality, and realizable value of any collateral (and loan-to-value ratio); and the forces that influence the local markets in which the asset (the collateral) is purchased and sold, such as capitalization rates, occupancy rates, rental rates, replacement costs and the anticipated duration of each real estate-related loan.

The Manager designates a valuation committee to oversee the entire valuation process of the Company’s Level 3 investments. The valuation committee is comprised of members of the Manager’s senior management, deal and portfolio management teams, who meet on a quarterly basis, or more frequently as needed, to review the Company investments being valued as well as the inputs used in the proprietary valuation model. Valuations determined by the valuation committee are supported by pertinent data and, in addition to a proprietary valuation model, are based on market data, industry accepted third-party valuation models and discount rates or other methods the valuation committee deems to be appropriate.

The following tables summarize the valuation techniques and significant unobservable inputs used by the Company to value the Level 3 investments as of September 30, 2018 and December 31, 2017. The tables are not intended to be all-inclusive, but instead identify the significant unobservable inputs relevant to the determination of fair values.
 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
September 30, 2018
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
268,006,493

 
Discounted cash flow (1)
 
Discount rate (1)
 
7.30
%
16.00
%
14.35
%
 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
December 31, 2017
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
275,428,953

 
Discounted cash flow (1)
 
Discount rate (1)
 
2.56
%
16.00
%
13.50
%
_______________
(1)
Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities.
Note 4. Related Party Transactions

Axar Transaction

On February 8, 2018, Terra Capital Partners caused (i) a new subsidiary of Terra Capital Partners, Terra REIT Advisors to become the external manager of Terra Property Trust, (ii) a new subsidiary of Terra Capital Partners, Terra Fund Advisors, to be admitted as the replacement manager of the Company and the equity interests in Terra Fund Advisors to be distributed to the equity owners of Terra Capital Partners on a pro rata basis and (iii) the equity interests in another subsidiary of Terra Capital Partners, Terra Income Advisors, which also serves as the external advisor to Terra Income Fund 6, Inc. (“Terra Fund 6”), to be distributed to the equity owners of Terra Capital Partners on a pro rata basis. After the completion of the above steps, an affiliate of Axar Capital Management L.P. (“Axar”) entered into an investment agreement with Terra Capital Partners and its affiliates (which is referred to collectively as the “Axar Transaction”), pursuant to which an affiliate of Axar acquired from the respective owners thereof: (i) a 49% economic interest in the Terra Fund Advisors; (ii) a 65.7% economic and voting interest in Terra Capital Partners (and thereby Terra REIT Advisors); and (iii) an initial 49% economic interest in Terra Income Advisors, with an agreement to acquire an additional 16.7% economic interest, and for the entire 65.7% stake to become a voting interest in Terra Income Advisors, subject to requisite approval by a majority of the outstanding voting securities (as defined by the Investment Company Act of 1940, as amended) of Terra Fund 6 of a new advisory and administrative services agreement between Terra Income Advisors and Terra Fund 6 and upon the satisfaction of certain other conditions.

Operating Agreement

The Company had an operating agreement, as amended, with Terra Income Advisors whereby Terra Income Advisors was responsible for the Company’s day-to-day operations. As part of the Axar Transaction, on February 8, 2018, Terra Income Advisors assigned all of its rights, title and interest in the Company pursuant to the Amended and Restated Limited Liability Company Agreement of the Company, dated January 1, 2016, to Terra Fund Advisors. The operating agreement, as amended, is scheduled

16


 

Notes to Consolidated Financial Statements (unaudited)

to terminate on December 31, 2023 unless the Company is dissolved earlier. Starting January 1, 2016, the Company conducts all of its real estate lending business through Terra Property Trust. As such, Terra Property Trust is responsible for management compensation paid and operating expenses reimbursed to its manager pursuant to a management agreement with the manager.
    
Management Agreement

As part of the Axar Transaction, Terra Income Advisors, Terra Property Trust’s manager prior to February 8, 2018, assigned all of its rights, title and interest in and to its then current external management agreement with Terra Property Trust to Terra REIT Advisors and immediately thereafter, Terra REIT Advisors and Terra Property Trust amended and restated such management agreement. Such amended and restated management agreement has the same economic terms and is in all material respects otherwise on the same terms as the management agreement between Terra Income Advisors and Terra Property Trust in effect immediately prior to the Axar Transaction, except for the identity of the manager.

Dividend Income
    
As discussed in Note 3, for the three months ended September 30, 2018 and 2017, the Company received approximately $8.1 million and $13.1 million of distributions from Terra Property Trust, respectively, of which $2.6 million and $8.7 million was a return of capital, respectively. For the nine months ended September 30, 2018 and 2017, the Company received approximately $24.9 million and $29.7 million of distributions from Terra Property Trust, respectively, of which $7.1 million and $14.0 million was a return of capital, respectively.

Note 5. Risks and Uncertainties

The Company’s investment in Terra Property Trust is highly illiquid and there is no assurance that the Company will achieve its investment objectives, including targeted returns. Terra Property Trust’s loans are highly illiquid. Due to the illiquidity of the loans, valuation of the loans may be difficult, as there generally will be no established markets for these loans. As the Company’s investment is carried at fair value with fair value changes recognized in the consolidated statements of operations, all changes in market conditions would directly affect the Company’s members’ capital.

Note 6. Commitments and Contingencies

The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Manager has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote.

The Company is not currently subject to any material legal proceedings and, to the Company’s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. While the outcome of any legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material adverse effect upon its financial condition or results of operations.

Note 7. Members’ Capital

As of September 30, 2018 and December 31, 2017, the Company had 6,643.4 units and 6,697.4 units outstanding, respectively, and the net asset value per unit was $40,340 and $41,143, respectively.

Capital Contributions

As of January 31, 2015, the offering period ended and the Company stopped accepting capital contributions.


17


 


Capital Distributions

At the discretion of the Manager, the Company may make distributions from net cash flow from operations, net disposition proceeds, or other cash available for distribution. Distributions are made to holders of Continuing Income Units (regular units of limited liability company interest in the Company) in proportion to their unit holdings until they receive a return of their initial Deemed Capital Contribution, as defined in the operating agreement, plus a preferred return ranging from 8.5% to 9.0% depending on the historical preferred return applicable to their Terra Fund units, after which time distributions are made 15% to the Manager which the Company referred to as the carried interest distribution, and 85% to the holders of Continuing Income Units. The preferred return applicable to the Continuing Income Units sold in the offering concurrent with the Merger is 8.5%.

In addition, holders of Termination Units (membership interest in the Company that were issued to members of Terra Funds 1 through 4 who chose to enter the liquidation phase of their investments) receive monthly distributions at a fixed rate of 6.0% per annum of the Unreturned Invested Capital (capital contributions less cumulative stated distributions of principal and less any amounts paid in redemption).

For the nine months ended September 30, 2018 and 2017, the Company made total distributions to non-manager members of $22.5 million and $23.1 million, respectively. For the nine months ended September 30, 2018 and 2017, the Company did not make any carried interest distributions to the Manager.
 
Capital Redemptions

In the Merger, members of Terra Funds 1 through 4 who wished to enter the liquidation phase of their investments chose to receive Termination Units as merger consideration. These Termination Units will be redeemed on the original expected liquidation dates of the funds. For the nine months ended September 30, 2018 and 2017, 3.6 and 7.9 Continuing Income Units, respectively, were redeemed for $0.1 million and $0.3 million, respectively, and 50.4 and 121.1Termination Units, respectively, were redeemed for $2.1 million and $5.0 million, respectively. As of September 30, 2018, there were no Termination Units outstanding.
    
At the discretion of the Manager, a reserve of 5% of cash from operations may be established in order to repurchase units from non-managing members. The Manager is under no obligation to redeem non-managing members’ units. As of September 30, 2018 and December 31, 2017, no such reserve was established.

Allocation of Income (Loss)

Profits and losses are allocated to the members in proportion to the units held in a given calendar year.

Member Units

Each membership interest through the original offering was offered for a price of $50,000 per unit. The membership interests in Terra Funds 1 through 4 were exchanged for units of the Company at a price of $43,410 per unit, which was the exchange value per unit of the Company on December 31, 2015, and the units in the offering concurrent with the Merger was offered at a price of $47,000 per unit. The following table provides a roll forward of the units outstanding of the Company for the nine months ended September 30, 2018 and 2017:
 
 
Nine Months Ended September 30, 2018
 
Nine Months Ended September 30, 2017
 
 
Managing
Member
 
Non-Managing Members
 
Total
 
Managing
Member
 
Non-Managing Members
 
Total
Units outstanding, beginning of period
 
—

 
6,697.4

 
6,697.4

 
—

 
6,826.5

 
6,826.5

Early redemption of Continuing
   Income Units
 
—

 
(3.6
)
 
(3.6
)
 
—

 
(7.9
)
 
(7.9
)
Termination Units redeemed
 
—

 
(50.4
)
 
(50.4
)
 
—

 
(121.1
)
 
(121.1
)
Units outstanding, end of period
 
—

 
6,643.4

 
6,643.4

 
—

 
6,697.5

 
6,697.5


Note 8. Financial Highlights

The financial highlights represent the per unit operating performance, return and ratios for the non-managing members’ class, taken as a whole, for the nine months ended September 30, 2018 and 2017. These financial highlights consist of the operating

18


 


performance, the internal rate of return (“IRR”) since inception of the Company, and the expense and net investment income ratios which are annualized except for the non-recurring expenses.

The IRR, net of all fees and carried interest (if any), is computed based on actual dates of the cash inflows (capital contributions), outflows (capital distributions), and the ending capital at the end of the respective period (residual value) of the non-managing members’ capital account.

The following summarizes the Company’s financial highlights for the nine months ended September 30, 2018 and 2017:
 
Nine Months Ended September 30,
 
2018
 
2017
Per unit operating performance:
 
 
 
Net asset value per unit, beginning of period
$
41,143

 
$
42,423

Increase in members’ capital from operations (1):
 
 
 
Net investment income
2,622

 
2,240

Net change in unrealized (depreciation) appreciation on investment
(53
)
 
135

Total increase in members’ capital from operations
2,569

 
2,375

Distributions to member (2):
 
 
 
Capital distributions
(3,372
)
 
(3,401
)
Net decrease in members’ capital resulting from distributions
(3,372
)
 
(3,401
)
Capital share transactions:
 
 
 
Other (3)
—

 
8

Net increase in members’ capital resulting from capital share transactions
—

 
8

Net asset value per unit, end of period
$
40,340

 
$
41,405

 
 
 
 
Ratios to average net assets:
 
 
 
Expenses
0.17
%
 
0.22
%
Net investment income
8.61
%
 
7.13
%
 
 
 
 
IRR, beginning of period
6.26
%
 
5.43
%
IRR, end of period
6.70
%
 
6.07
%
_______________
(1)
The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were 6,670 units and 6,801 units for the nine months ended September 30, 2018 and 2017, respectively.
(2)
The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.
(3)
Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.

Note 9. Subsequent Events

Management has evaluated subsequent events through the date the consolidated financial statements were available to be issued. Management has determined that there are no material events that would require adjustment to, or disclosure in, the Company’s consolidated financial statements.



19


 


Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The information contained in this section should be read in conjunction with our unaudited consolidated financial statements and related notes thereto and other financial information included elsewhere in this quarterly report on Form 10-Q. In this report, “we,” “us” and “our” refer to Terra Secured Income Fund 5, LLC and its consolidated subsidiaries.

FORWARD-LOOKING STATEMENTS
We make forward-looking statements in this quarterly report on Form 10-Q within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. The forward-looking statements contained in this quarterly report on Form 10-Q may include, but are not limited to, statements as to:

•
our expected financial performance, operating results and our ability to make distributions to our members in the future;

•
the availability of attractive risk-adjusted investment opportunities in our target asset class and other real estate-related investments that satisfy our investment objectives and strategies;

•
the acquisition of our targeted assets, including the timing of acquisitions;

•
volatility in our industry, interest rates and spreads, the debt or equity markets, the general economy or the real estate market specifically, whether the results of market events or otherwise;

•
changes in our investment objectives and business strategy;

•
the availability of financing on acceptable terms or at all;

•
the performance and financial condition of our borrowers;

•
changes in interest rates and the market value of our assets;

•
borrower defaults or decreased recovery rates from our borrowers;

•
changes in prepayment rates on our investments;

•
our use of financial leverage;

•
actual and potential conflicts of interest with any of the following affiliated entities: Terra Fund Advisors, LLC (“Terra Fund Advisors”), Terra REIT Advisors, LLC (“Terra REIT Advisors”), Terra Income Advisors, LLC (“Terra Income Advisors”); Terra Capital Partners, LLC (“Terra Capital Partners”), our sponsor; Terra Secured Income Fund, LLC (“Terra Fund 1”); Terra Secured Income Fund 2, LLC (“Terra Fund 2”); Terra Secured Income Fund 3, LLC (“Terra Fund 3”); Terra Secured Income Fund 4, LLC (“Terra Fund 4”); Terra Secured Income Fund 5 International; Terra Income Fund International; Terra Secured Income Fund 7, LLC; Terra Property Trust, Inc. (“Terra Property Trust”), our wholly-owned subsidiary; Terra Property Trust 2, Inc., a subsidiary of Terra Secured Income Fund 7, LLC; Terra Capital Advisors, LLC; Terra Capital Advisors 2, LLC; Terra Income Advisors 2, LLC; or any of their affiliates;

•
our dependence on our Manager and the availability of its senior management team and other personnel;

•
liquidity transactions that may be available to us in the future, including a liquidation of our assets, a sale of our company or an initial public offering and listing of the shares of common stock of Terra Property Trust on a national securities exchange, and the timing of any such transactions;

•
actions and initiatives of the U.S. federal, state and local government and changes to the U.S. federal, state and local government policies and the execution and impact of these actions, initiatives and policies;

•
limitations imposed on our business and our ability to satisfy complex rules in order for us to maintain our exclusion from registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and Terra Property Trust to maintain its qualification as a real estate investment trust (“REIT”) for U.S. federal income tax purposes; and


20


 


•
the degree and nature of our competition.

In addition, words such as “anticipate,” “believe,” “expect” and “intend” indicate a forward-looking statement, although not all forward-looking statements include these words. The forward-looking statements contained in this quarterly report on Form 10-Q involve risks and uncertainties. Our actual results could differ materially from those implied or expressed in the forward-looking statements for any reason, including the factors set forth in “Part I — Item 1A. Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2017. Other factors that could cause actual results to differ materially include:

•
changes in the economy;

•
risks associated with possible disruption in our operations or the economy generally due to terrorism or natural disasters; and

•
future changes in laws or regulations and conditions in our operating areas.

We have based the forward-looking statements included in this quarterly report on Form 10-Q on information available to us on the date of this quarterly report on Form 10-Q. Except as required by the federal securities laws, we undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. Members are advised to consult any additional disclosures that we may make directly to members or through reports that we may file in the future with the Securities and Exchange Commission (the “SEC”), including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

Overview
    
We are a specialized real estate finance company that originates, structures, funds and manages high yielding commercial real estate investments, including mezzanine loans, first mortgage loans, subordinated mortgage loans and preferred equity investments throughout the United States. Our investments finance the acquisition, construction, development or redevelopment of quality commercial real estate in the United States. We focus on smaller, middle market loans in the approximately $3 million to $50 million range which are financing properties in primary and secondary markets because we believe these loans are subject to less competition, offer higher risk adjusted returns than larger loans with similar risk metrics and facilitate portfolio diversification. We were formed as a Delaware limited liability company on April 24, 2013 and commenced operations on August 8, 2013. We make substantially all of our investments and conduct substantially all of our real estate lending business through Terra Property Trust, which has elected to be taxed as a REIT for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016. Our objectives are to (i) preserve our members’ capital contributions, (ii) realize income from our investments and (iii) make monthly distributions to our members from cash generated from investments. There can be no assurances that we will be successful in meeting our objectives.

On January 1, 2016, Terra Fund 1, Terra Fund 2, Terra Fund 3 and Terra Fund 4 merged with and into our subsidiaries (individually, each a “Terra Fund” and collectively, the “Terra Funds”) through a series of separate mergers (collectively, the “Merger”). Following the Merger, we contributed the consolidated portfolio of net assets of the Terra Funds to Terra Property Trust in exchange for all of the common shares of Terra Property Trust. We elected to engage in these transactions to continue our business as a REIT for U.S. federal income tax purposes, and to provide our members with a more broadly diversified portfolio of assets while at the same time providing us with enhanced access to capital and borrowings, lower operating costs and enhanced opportunities for growth.

As described in greater detail in our current report on Form 8-K filed with the SEC on February 14, 2018, on February 8, 2018, Terra Capital Partners caused (i) a new subsidiary of Terra Capital Partners, Terra REIT Advisors, to become the external manager of Terra Property Trust, (ii) a new subsidiary of Terra Capital Partners, Terra Fund Advisors, to be admitted as the replacement manager of the Company and the equity interests in Terra Fund Advisors to be distributed to the equity owners of Terra Capital Partners on a pro rata basis and (iii) the equity interests in another subsidiary of Terra Capital Partners, Terra Income Advisors, which also serves as the external advisor to Terra Income Fund 6, Inc. (“Terra Fund 6”), to be distributed to the equity owners of Terra Capital Partners on a pro rata basis. After the completion of the above steps, an affiliate of Axar Capital Management L.P. (“Axar”) entered into an investment agreement with Terra Capital Partners and its affiliates (which is referred to collectively as the “Axar Transaction”), pursuant to which an affiliate of Axar acquired from the respective owners thereof: (i) a 49% economic interest in Terra Fund Advisors; (ii) a 65.7% economic and voting interest in Terra Capital Partners (and thereby Terra REIT Advisors); and (iii) an initial 49% economic interest in Terra Income Advisors, with an agreement to acquire an additional 16.7% economic interest, and for the entire 65.7% stake to become a voting interest in Terra Income Advisors, subject to requisite approval by a majority of the outstanding voting securities (as defined by the 1940 Act) of Terra Fund 6 of a new advisory and administrative services agreement between Terra Income Advisors and Terra Fund 6 and upon the satisfaction of certain other conditions. When

21


 


used herein the term “Manager” refers to Terra Income Advisors for periods prior to February 8, 2018 and refers to Terra Fund Advisors beginning on such date.
    
Portfolio Summary

The following tables provide a summary of Terra Property Trust’s net loan portfolio as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
Fixed Rate (1)
 
Floating
Rate (2)
 
Total Gross Loans
 
Obligations under Participation Agreements
 
Total Net Loans
Number of loans
25


7

 
32

 
21

 
32

Principal balance
$
217,668,228

 
$
119,466,607

 
$
337,134,835

 
99,800,355

 
$
237,334,480

Amortized cost
219,534,977

 
120,080,602

 
339,615,579

 
100,740,686

 
238,874,893

Fair value
219,259,364

 
120,079,832

 
339,339,196

 
100,562,730

 
238,776,466

Weighted average coupon rate
12.85
%
 
12.98
%
 
12.89
%
 
12.68
%
 
12.98
%
Weighted-average remaining
   term (years)
1.71

 
1.84

 
1.75

 
1.50

 
1.86

 
December 31, 2017
 
Fixed Rate
 
Floating
Rate (1)
 
Total Gross Loans
 
Obligations under Participation Agreements
 
Total Net Loans
Number of loans
33

 
1

 
34

 
19

 
34

Principal balance
$
299,311,201

 
$
53,749,794

 
$
353,060,995

 
75,077,891

 
$
277,983,104

Amortized cost
302,816,709

 
54,277,021

 
357,093,730

 
76,053,279

 
281,040,451

Fair value
302,951,869

 
54,282,803

 
357,234,672

 
75,991,436

 
281,243,236

Weighted average coupon rate
12.79
%
 
9.97
%
 
12.36
%
 
12.67
%
 
12.23
%
Weighted-average remaining
   term (years)
1.62

 
0.19

 
1.40

 
1.14

 
1.47

_______________
(1)
Amortized cost is net of an allowance for loan losses of $375,603 as of September 30, 2018. There was no allowance for loan losses as of December 31, 2017.
(2)
These loans pay a coupon rate of London Interbank Offered Rate (“LIBOR”) plus a fixed spread, six of which are subject to a LIBOR floor. Coupon rate shown was determined using the applicable annual coupon rate as of September 30, 2018 and December 31, 2017.

In addition to its net loan portfolio, on July 30, 2018, Terra Property Trust foreclosed on a multi-tenant office building encumbering a $54.0 million first mortgage in exchange for the relief of the first mortgage and related fees and expenses. As of September 30, 2018, the office building had a carrying value of $56.8 million and the mortgage loan payable encumbering the office building had a carrying value of $44.8 million for a net carrying value of approximately $12.0 million.


22


 


Portfolio Information

The tables below detail the types of loans in Terra Property Trust’s loan portfolio, as well as the property type and geographic location of the properties securing these loans, on a net loan basis, which represents Terra Property Trust’s proportionate share of the loans, based on its economic ownership of these loans.
 
 
September 30, 2018
 
December 31, 2017
Loan Structure
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
Preferred equity
investments
 
$
113,771,383

 
$
114,458,111

 
$
114,318,795

 
47.9
%
 
$
67,635,660

 
$
68,347,128

 
$
68,263,958

 
24.3
%
Mezzanine loans
 
85,691,158

 
86,541,727

 
86,210,838

 
36.1
%
 
101,115,711

 
102,386,404

 
102,670,907

 
36.5
%
First mortgages
 
37,871,939

 
38,250,658

 
38,246,833

 
16.0
%
 
109,231,733

 
110,306,919

 
110,308,371

 
39.2
%
Allowance for loan
losses
 
—

 
(375,603
)
 
—

 
—
%
 
—

 
—

 
—

 
—
%
Total
 
$
237,334,480

 
$
238,874,893

 
$
238,776,466

 
100.0
%
 
$
277,983,104

 
$
281,040,451

 
$
281,243,236

 
100.0
%
 
 
September 30, 2018
 
December 31, 2017
Property Type
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
Infill land
 
$
58,491,314

 
$
58,870,033

 
$
58,866,208

 
24.6
%
 
$
55,481,939

 
$
56,029,898

 
$
56,025,568

 
19.9
%
Hotel
 
53,365,865

 
53,896,236

 
53,860,279

 
22.6
%
 
59,319,892

 
60,026,750

 
59,958,385

 
21.3
%
Student housing
 
38,727,172

 
39,067,991

 
38,898,461

 
16.3
%
 
22,067,947

 
22,451,360

 
22,820,142

 
8.1
%
Multifamily
 
34,061,829

 
34,336,270

 
34,264,868

 
14.4
%
 
37,456,258

 
37,988,040

 
37,848,395

 
13.5
%
Condominium
 
30,538,714

 
30,817,720

 
30,824,594

 
12.9
%
 
38,511,274

 
38,829,923

 
38,868,479

 
13.8
%
Office
 
15,149,586

 
15,262,246

 
15,262,246

 
6.4
%
 
58,145,794

 
58,714,480

 
58,722,267

 
20.9
%
Industrial
 
7,000,000

 
7,000,000

 
6,799,810

 
2.8
%
 
7,000,000

 
7,000,000

 
7,000,000

 
2.5
%
Allowance for loan
losses
 
—

 
(375,603
)
 
—

 
—
%
 
—

 
—

 
—

 
—
%
Total
 
$
237,334,480

 
$
238,874,893

 
$
238,776,466

 
100.0
%
 
$
277,983,104

 
$
281,040,451

 
$
281,243,236

 
100.0
%
 
 
September 30, 2018
 
December 31, 2017
Geographic Location
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
 
Principal Balance
 
Amortized Cost
 
Fair
Value
 
% of Total
United States
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
California
 
$
73,612,758

 
$
74,209,940

 
$
74,162,246

 
31.1
%
 
$
104,362,267

 
$
105,490,614

 
$
105,391,192

 
37.5
%
New York
 
55,930,339

 
56,252,628

 
56,274,092

 
23.6
%
 
43,761,274

 
44,121,538

 
44,164,421

 
15.7
%
Florida
 
21,512,512

 
21,701,054

 
21,718,205

 
9.1
%
 
39,926,892

 
40,281,901

 
40,296,964

 
14.3
%
Illinois
 
16,600,000

 
16,664,155

 
16,664,155

 
7.0
%
 
—

 
—

 
—

 
—
%
Pennsylvania
 
15,585,000

 
15,731,891

 
15,733,183

 
6.6
%
 
15,585,000

 
15,731,551

 
15,732,064

 
5.6
%
Washington
 
13,228,579

 
13,308,590

 
13,255,554

 
5.5
%
 
20,354,875

 
20,469,129

 
20,527,134

 
7.3
%
Georgia
 
12,346,939

 
12,470,408

 
12,469,169

 
5.2
%
 
15,846,939

 
16,126,857

 
15,998,575

 
5.7
%
Massachusetts
 
7,000,000

 
7,000,000

 
6,799,810

 
2.8
%
 
7,000,000

 
7,000,000

 
7,000,000

 
2.5
%
Texas
 
4,962,000

 
4,979,026

 
4,965,950

 
2.1
%
 
6,093,243

 
6,188,077

 
6,157,971

 
2.2
%
Ohio
 
4,575,000

 
4,620,750

 
4,620,215

 
1.9
%
 
4,000,000

 
4,040,000

 
4,039,499

 
1.4
%
North Carolina
 
4,513,353

 
4,544,301

 
4,548,838

 
1.9
%
 
2,198,000

 
2,220,813

 
2,219,723

 
0.8
%
Alabama
 
3,700,000

 
3,765,979

 
3,736,506

 
1.6
%
 
3,700,000

 
3,772,716

 
3,736,507

 
1.3
%
Other (1)
 
3,768,000

 
4,001,774

 
3,828,543

 
1.6
%
 
7,618,614

 
7,913,324

 
8,276,135

 
2.9
%
Delaware
 
—

 
—

 
—

 
—
%
 
4,396,000

 
4,437,459

 
4,439,464

 
1.6
%
Oregon
 
—

 
—

 
—

 
—
%
 
3,140,000

 
3,246,472

 
3,263,587

 
1.2
%
Allowance for loan
losses
 
—

 
(375,603
)
 
—

 
—
%
 
—

 
—

 
—

 
—
%
Total
 
$
237,334,480

 
$
238,874,893

 
$
238,776,466

 
100.0
%
 
$
277,983,104

 
$
281,040,451

 
$
281,243,236

 
100.0
%
_______________

23


 


(1)
Other includes $1.9 million of properties in South Carolina and $1.9 million of properties in Tennessee at September 30, 2018. Other includes $2.7 million of properties in Indiana, $1.9 million of properties in South Carolina, $1.9 million of properties in Tennessee and $1.1 million of properties in Utah at December 31, 2017.

Factors Impacting Operating Results

Our operating results are affected by a number of factors and primarily depend on, among other things, the level of the interest income from targeted assets, the market value of our assets and the supply of, and demand for, real estate-related loans, including mezzanine loans, first and second mortgage loans, subordinated mortgage loans, bridge loans, preferred equity investments and other loans related to high quality commercial real estate in the United States, and the financing and other costs associated with our business. Interest income and borrowing costs may vary as a result of changes in interest rates, which could impact the net interest we receive on our assets. Our operating results may also be impacted by conditions in the financial markets and unanticipated credit events experienced by borrowers under our loan assets.

Market Risk

Terra Property Trust’s loans are highly illiquid and there is no assurance that it will achieve its investment objectives, including targeted returns. Due to the illiquidity of the loans, valuation of Terra Property Trust’s loans may be difficult, as there generally will be no established markets for these loans.

Credit Risk

Credit risk represents the potential loss that Terra Property Trust would incur if the borrowers failed to perform pursuant to the terms of their obligations to Terra Property Trust. Terra Property Trust minimizes its exposure to credit risk by limiting exposure to any one individual borrower and any one asset class. Additionally, Terra Property Trust employs an asset management approach and monitors the portfolio of loans, through, at a minimum, quarterly financial review of property performance including net operating income, loan-to-value ratio, debt service coverage ratio, and the debt yield. Terra Property Trust also requires certain borrowers to establish a cash reserve, as a form of additional collateral, for the purpose of providing for future interest or property-related operating payments.

Mezzanine loans and preferred equity investments are subordinate to senior mortgage loans and, therefore, involve a higher degree of risk. In the event of a default, mezzanine loans and preferred equity investments will be satisfied only after the senior lender’s investment is fully recovered. As a result, in the event of a default, Terra Property Trust may not recover all of its investments.

We and Terra Property Trust maintain all of our cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation.

Concentration Risk

Terra Property Trust holds real estate-related loans. Thus, its loan portfolio may be subject to a more rapid change in value than would be the case if it were required to maintain a wide diversification among industries, companies and types of loans. The result of such concentration in real estate assets is that a loss in such loans could materially reduce Terra Property Trust’s capital.

Liquidity Risk

Liquidity risk represents the possibility that we may not be able to sell our positions at a reasonable price in times of low trading volume, high volatility and financial stress.

Interest Rate Risk

Interest rate risk represents the effect from a change in interest rates, which could result in an adverse change in the fair value of our interest-bearing financial instruments. With respect to Terra Property Trust’s business operations, increases in interest rates, in general, may over time cause: (i) the interest expense associated with variable rate borrowings to increase; (ii) the value of real estate-related loans to decline; (iii) coupons on variable rate loans to reset, although on a delayed basis, to higher interest rates; (iv) to the extent applicable under the terms of Terra Property Trust’s investments, prepayments on real estate-related loans to slow, and (v) to the extent we enter into interest rate swap agreements as part of Terra Property Trust’s hedging strategy, the value of these agreements to increase. Conversely, decreases in interest rates, in general, may over time cause: (i) the interest expense associated with variable rate borrowings to decrease; (ii) the value of real estate-related loans to increase; (iii) coupons on variable

24


 


rate real estate-related loans to reset, although on a delayed basis, to lower interest rates (iv) to the extent applicable under the terms of Terra Property Trust’s investments, prepayments on real estate-related loans to increase, and (v) to the extent Terra Property Trust enters into interest rate swap agreements as part of its hedging strategy, the value of these agreements to decrease.

Prepayment Risk

Prepayments can either positively or adversely affect the yields on Terra Property Trust’s loans. Prepayments on debt instruments, where permitted under the debt documents, are influenced by changes in current interest rates and a variety of economic, geographic and other factors beyond our control, and consequently, such prepayment rates cannot be predicted with certainty. If Terra Property Trust does not collect a prepayment fee in connection with a prepayment or are unable to invest the proceeds of such prepayments received, the yield on the portfolio will decline. In addition, Terra Property Trust may acquire assets at a discount or premium and if the asset does not repay when expected, the anticipated yield may be impacted. Under certain interest rate and prepayment scenarios Terra Property Trust may fail to recoup fully its cost of acquisition of certain loans.

Use of Leverage

Terra Property Trust may deploy moderate amounts of leverage as part of our operating strategy, which may consist of borrowings under first mortgage financings, warehouse facilities, repurchase agreements and other credit facilities. While borrowing and leverage present opportunities for increasing total return, they may have the effect of potentially creating or increasing losses.

Results of Operations
The following table presents the comparative results of our operations for the three and nine months ended September 30, 2018 and 2017:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
Change
 
2018
 
2017
 
Change
Investment income
 
 
 
 
 
 
 
 
 
 
 
Dividend income
$
5,487,805

 
$
4,448,792

 
$
1,039,013

 
$
17,829,718

 
$
15,703,171

 
$
2,126,547

Other operating income
137

 
111

 
26

 
1,140

 
1,064

 
76

Total investment income
5,487,942

 
4,448,903

 
1,039,039

 
17,830,858

 
15,704,235

 
2,126,623

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
Professional fees
126,966

 
104,100

 
22,866

 
334,802

 
431,465

 
(96,663
)
Other
2,891

 
3,448

 
(557
)
 
10,832

 
35,761

 
(24,929
)
Total operating expenses
129,857

 
107,548

 
22,309

 
345,634

 
467,226

 
(121,592
)
Net investment income
5,358,085

 
4,341,355

 
1,016,730

 
17,485,224

 
15,237,009

 
2,248,215

Net change in unrealized
   (depreciation) appreciation on
   investment
(179,846
)
 
428,032

 
(607,878
)
 
(355,600
)
 
920,026

 
(1,275,626
)
Net increase in members’ capital
   resulting from operations
$
5,178,239

 
$
4,769,387

 
$
408,852

 
$
17,129,624

 
$
16,157,035

 
$
972,589


Dividend Income

Dividend income associated with our ownership of Terra Property Trust represents Terra Property Trust’s net income for the period. Any excess of distributions received from Terra Property Trust over its net income is recorded as return of capital.

For the three months ended September 30, 2018 and 2017, we received distributions of $8.1 million and $13.1 million, respectively, or $0.54 and $0.88 per share, respectively, from Terra Property Trust, of which $5.5 million and $4.4 million was recorded as dividend income, respectively, representing Terra Property Trust’s net income for the periods presented, and $2.6 million and $8.7 million was recorded as return of capital, respectively. The $1.0 million increase in Terra Property Trust’s net income was primarily due to (i) an increase in net interest income of $0.8 million; (ii) prepayment fee income of $0.5 million received during the three months ended September 30, 2018 as a result of the repayment of a loan by the borrower before the scheduled maturity date; and (iii) the recognition of a net realized loss of $0.6 million on the sale of investments to affiliates through participation interest during the three months ended September 30, 2017 whereas no such loss was recognized during the three months ended September 30, 2018. These increases in Terra Property Trust’s net income were partially offset by (i) an increase in total lending-related operating expenses of $0.4 million, primarily due to an increase in operating expenses reimbursed

25


 


to Terra Property Trust’ manager of $0.3 million resulting from an increase in allocable costs; and (ii) a net loss generated from the operations of a foreclosed real estate property of $0.4 million, primarily related to non-cash depreciation and amortization expenses recorded, for the three months ended September 30, 2018. Net interest income increased as a result of an increase in weighted average principal balance of investments.

For the nine months ended September 30, 2018 and 2017, we received distributions of $24.9 million and $29.7 million, respectively, or $1.67 and $1.99 per share, respectively, from Terra Property Trust, of which $17.8 million and $15.7 million was recorded as dividend income, respectively, representing Terra Property Trust’s net income for the periods presented, and $7.1 million and $14.0 million was recorded as return of capital, respectively. The $2.1 million increase in Terra Property Trust’s net income was primarily due to (i) an increase in net interest income of $1.8 million; and (ii) an increase in prepayment fee income of $1.9 million primarily as a result of a $1.6 million prepayment fee received on an investment that the borrower repaid four years early in the current year period. These increases in Terra Property Trust’s net income were partially offset by (i) an increase in total lending-related operating expense of $1.3 million due to a $0.4 million provision for loan losses recorded in the nine months ended September 30, 2018 compared to a reversal of provision for loan losses of $0.2 million recorded in the same period in 2017 as well as increases in professional fees, directors fees and operating expenses reimbursed to Terra Property Trust’ manager in the current period; and (ii) a net loss generated from the operations of a foreclosed real estate property of $0.4 million as discussed above.

Net interest income increased by $1.8 million as a result of (i) a decrease in amortization of net purchase premium of $0.7 million as a result of the majority of the net purchase premium recognized in connection with the Merger in 2016 as well as a senior loan purchased in 2017 having already been amortized prior to the current period; (ii) a net origination fee income of $0.1 million received for the nine months ended September 30, 2018, compared to an origination fee expense of $0.4 million paid to Terra Property Trust’s manager for the same period in 2017 on a senior loan for which we did not receive an origination fee income; and (iii) in increase in contractual net interest income of $0.4 million primarily due to an increase in the weighted average interest rate on investments, partially offset by the decrease in weighted average principal balance of investments.
 
Net Loan Portfolio
    
In assessing the performance of Terra Property Trust’s loans, we believe it is appropriate to evaluate the loans on an economic basis, that is, gross loans net of obligations under participation agreements and mortgage loan payable. The following tables present a reconciliation of Terra Property Trust’s loan portfolio from a gross basis to a net basis for the three and nine months ended September 30, 2018 and 2017:

 
 
Three Months Ended September 30, 2018
 
Three Months Ended September 30, 2017
 
 
Weighted Average Principal Amount (1)
 
Weighted Average Coupon Rate (2)
 
Weighted Average Principal Amount (1)
 
Weighted Average Coupon Rate (2)
Total portfolio
 
 
 
 
 
 
 
 
Gross loans
 
$
348,579,866

 
12.7%
 
$
314,920,884

 
12.2%
Obligations under participation agreements
 
(94,438,132
)
 
12.7%
 
(68,237,323
)
 
12.5%
Mortgage loan payable
 
(11,389,269
)
 
7.3%
 
(34,000,000
)
 
6.5%
Net loans (3)
 
$
242,752,465

 
12.9%
 
$
212,683,561

 
13.0%
Senior loans
 
 
 
 
 
 
 
 
Gross loans
 
$
78,020,652

 
11.6%
 
$
141,402,331

 
11.0%
Obligations under participation agreements
 
(21,953,061
)
 
12.0%
 
(23,736,594
)
 
11.8%
Mortgage loan payable
 
(11,389,269
)
 
7.3%
 
(34,000,000
)
 
6.5%
Net loans (3)
 
$
44,678,322

 
12.5%
 
$
83,665,737

 
12.6%
Subordinated loans (4)
 
 
 
 
 
 
 
 
Gross loans
 
$
270,559,214

 
13.0%
 
$
173,518,553

 
13.1%
Obligations under participation agreements
 
(72,485,071
)
 
12.9%
 
(44,500,729
)
 
12.8%
Net loans (3)
 
$
198,074,143

 
13.1%
 
$
129,017,824

 
13.2%


26


 


 
 
Nine Months Ended September 30, 2018
 
Nine Months Ended September 30, 2017
 
 
Weighted Average Principal Amount (1)
 
Weighted Average Coupon Rate (2)
 
Weighted Average Principal Amount (1)
 
Weighted Average Coupon Rate (2)
Total portfolio
 
 
 
 
 
 
 
 
Gross loans
 
$
349,249,585

 
12.6%
 
$
338,889,294

 
12.0%
Obligations under participation agreements
 
(81,621,459
)
 
12.7%
 
(57,727,421
)
 
12.3%
Mortgage loan payable
 
(26,313,017
)
 
7.1%
 
(36,928,955
)
 
6.3%
Net loans (3)
 
$
241,315,109

 
13.1%
 
$
244,232,918

 
12.7%
Senior loans
 
 
 
 
 
 
 
 
Gross loans
 
$
104,708,261

 
11.4%
 
$
155,449,688

 
10.5%
Obligations under participation agreements
 
(22,475,039
)
 
12.0%
 
(18,257,876
)
 
11.2%
Mortgage loan payable
 
(26,313,017
)
 
7.1%
 
(36,928,955
)
 
6.3%
Net loans (3)
 
$
55,920,205

 
13.3%
 
$
100,262,857

 
12.0%
Subordinated loans (4)
 
 
 
 
 
 
 
 
Gross loans
 
$
244,541,324

 
13.1%
 
$
183,439,606

 
13.2%
Obligations under participation agreements
 
(59,146,420
)
 
13.0%
 
(39,469,545
)
 
12.8%
Net loans (3)
 
$
185,394,904

 
13.1%
 
$
143,970,061

 
13.3%
_______________
(1)
Amount is calculated based on the number of days each loan is outstanding.
(2)
Amount is calculated based on the underlying principal amount of each loan.
(3)
The weighted average coupon rate represents net interest income over the period calculated using the weighted average coupon rate and weighted average principal amount shown on the table (interest income on the loans less interest expense) divided by the weighted average principal amount of the net loans during the period.
(4)
Subordinated loans include mezzanine loans, preferred equity investments and credit facilities.

For the nine months ended September 30, 2018 as compared to the same period in 2017, the increase in weighted average coupon rate was due to a decrease in investments in senior loans, which are typically larger principal-balance loans paying lower levels of interest reflecting the lower perceived risk due to their senior position in the borrower’s capital structure as compared to investments in subordinated loans, as well as the senior loans that matured in the prior year period having coupon rates that were lower than the current senior loans.

Professional Fees

For the three months ended September 30, 2018 as compared to the same period in 2017, professional fees remained substantially the same. For the nine months ended September 30, 2018 as compared to the same period 2017, professional fees decreased by $0.1 million primarily due to additional fees incurred in connection with the filing of our registration statement on
Form 10 in 2017.

Net Change in Unrealized (Depreciation) Appreciation on Investment

Net change in unrealized appreciation or depreciation on investment reflects the change in Terra Property Trust’s net loan portfolio value during the reporting period, including any reversal of previously recorded unrealized gains or losses, when gains or losses are realized. There may be fluctuations in unrealized gains and losses of the portfolio as loans within the portfolio approach their respective maturity dates and fair value premiums are amortized or discounts are accreted to each loan’s respective collectible value. In addition, the unrealized gains or losses in the portfolio may fluctuate over time due to changes in the market yields or carrying value adjustments such as the amortization or accretion of premiums, discounts, origination fees, and exit fees.

2018 — For the three and nine months ended September 30, 2018, we recorded a net change in unrealized depreciation on investments of $0.2 million and $0.4 million, respectively, primarily due to an increase in market interest rates and for one loan, an increase to its discount rate driven by a decrease in the net cash flow of the underlying property.

2017 — For the three and nine months ended September 30, 2017, we recorded a net change in unrealized appreciation on investments of $0.4 million and $0.9 million, respectively, as a result of the amortization of a substantial portion of the net purchase premiums recognized in connection with the Merger in 2016, which reduced the carrying value of the loans in 2017.

27


 



    
Net Increase in Members’ Capital Resulting from Operations

For the three and nine months ended September 30, 2018 as compared to the same periods in 2017, the resulting net increase in members’ capital results from operations increased by $0.4 million and $1.0 million, respectively.

Financial Condition, Liquidity and Capital Resources

Liquidity is a measure of our ability to meet potential cash requirements, including funding and maintaining our assets and operations, making distributions to our members and other general business needs. Our primary cash requirements for the next twelve months are making the discretionary recurring distributions to our members. We expect to use cash distributions received from Terra Property Trust to meet such cash requirements. Terra Property Trust’s obligations under participation agreements totaling $48.8 million will mature in the next twelve months. Terra Property Trust expects to use the proceeds from the repayment of the corresponding investments to repay the participation obligations. Additionally, Terra Property Trust expects to fund approximately $28.7 million of the unfunded commitments to borrowers during the next twelve months. Terra Property Trust expects to maintain sufficient cash on hand to fund such commitment through matching these commitments with principal repayments on outstanding loans.
 
Cash Flows Provided by Operating Activities

2018 — For the nine months ended September 30, 2018, cash flows provided by operating activities were $24.6 million, primarily due to $24.9 million of dividends received from Terra Property Trust, of which $7.1 million was recorded as a return of capital.

2017 — For the nine months ended September 30, 2017, cash flows provided by operating activities were $28.5 million, primarily due to $29.7 million of dividends received from Terra Property Trust, of which $14.0 million was recorded as a return of capital.

Cash Flows used in Financing Activities

2018 — For the nine months ended September 30, 2018, cash flows used in financing activities were $24.7 million, consisting of distributions paid to members of $22.5 million, and $2.2 million used to redeem 50.4 Terra Fund 4 Termination Units and 3.6 continuing income units.

2017 — For the nine months ended September 30, 2017, cash flows used in financing activities was $28.4 million consisting of
distributions paid to members of $23.1 million and cash of $5.3 million used to primarily redeem Terra Fund 3 Termination Units

Critical Accounting Policies and Use of Estimates

Our consolidated financial statements are prepared in conformity with United States generally accepted accounting principles (“U.S. GAAP”), which requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Critical accounting policies are those that require the application of management’s most difficult, subjective or complex judgments, often because of the need to make estimates about the effect of matters that are inherently uncertain and that may change in subsequent periods. In preparing the consolidated financial statements, management has made estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. In preparing the consolidated financial statements, management has utilized available information, including industry standards and the current economic environment, among other factors, in forming its estimates and judgments, giving due consideration to materiality. Actual results may differ from these estimates. In addition, other companies may utilize different estimates, which may impact the comparability of our results of operations to those of companies in similar businesses. As we execute our expected operating plans, we will describe additional critical accounting policies in the notes to our future consolidated financial statements in addition to those discussed below.

Fair Value Measurements

The fair value of financial instruments is categorized based on the priority of the inputs to the valuation technique and categorized into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument.

28


 



Our financial assets and liabilities were recorded at fair value on our consolidated statements of assets and liabilities and were categorized based on the inputs valuation techniques as follows:

•
Level 1. Quoted prices for identical assets or liabilities in an active market.

•
Level 2. Financial assets and liabilities whose values are based on the following:

◦Quoted prices for similar assets or liabilities in active markets.

◦Quoted prices for identical or similar assets or liabilities in non-active markets.

◦Pricing models whose inputs are observable for substantially the full term of the asset or liability.

◦Pricing models whose inputs are derived principally from or corroborated by observable market data for
substantially full term of the asset or liability.

•
Level 3. Prices or valuation techniques based on inputs that are both unobservable and significant to the overall fair value measurement.

Unobservable inputs reflect our assumptions about the factors that market participants would use in pricing an asset or liability, and would be based on the best information available.

Any changes to the valuation methodology will be reviewed by management to ensure the changes are appropriate. As markets and products develop and the pricing for certain products becomes more transparent, we will continue to refine our valuation methodologies. The methods used may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while we anticipate that our valuation methods will be appropriate and consistent with other market participants, the use of different methodologies, or assumptions, to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. We will use inputs that are current as of the measurement date, which may include periods of market dislocation, during which price transparency may be reduced.

Income Taxes

No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of our taxable income. We, however, may be liable for New York City Unincorporated Business Tax (the “NYC UBT”) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the three and nine months ended September 30, 2018 and 2017, none of our income was subject to the NYC UBT.

We did not have any uncertain tax positions that met the recognition or measurement criteria of Accounting Standards Codification 740-10-25, Income Taxes, nor did we have any unrecognized tax benefits as of the periods presented herein. We recognize interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in our consolidated statements of operations. For the three and nine months ended September 30, 2018 and 2017, we did not incur any interest or penalties. Although we file federal and state tax returns, our major tax jurisdiction is federal. Our inception-to-date federal tax years remain subject to examination by the Internal Revenue Service.

Contractual Obligations of Terra Property Trust to Terra REIT Advisors

As part of the Axar Transaction, Terra Income Advisors assigned all of its rights, title and interest in and to its current external management agreement with Terra Property Trust to Terra REIT Advisors and immediately thereafter, Terra REIT Advisors and Terra Property Trust amended and restated such management agreement. Such amended and restated management agreement has the same economic terms and is in all material respects otherwise on the same terms as the management agreement between Terra Income Advisors and Terra Property Trust in effect immediately prior to the Axar Transaction, except for the identity of our manager.

29


 


    
Terra Property Trust currently pays the following fees to Terra REIT Advisors pursuant to a management agreement:

Origination Fee. An origination fee in the amount of 1.0% of the amount used to originate, acquire, fund, acquire or structure real estate-related loans, including any third-party expenses related to such loan. In the event that the term of any real estate-related loan is extended, Terra REIT Advisors also receives an origination fee equal to the lesser of (i) 1.0% of the principal amount of the loan being extended or (ii) the amount of fee paid by the borrower in connection with such extension. The origination fee is offset by the amount of any origination fee received by Terra Property Trust from borrowers.

Asset Management Fee. A monthly asset management fee at an annual rate equal to 1.0% of the aggregate funds under management, which includes the loan origination amount or aggregate gross acquisition cost, as applicable, for each real estate-related loan and cash held by Terra Property Trust.

Asset Servicing Fee. A monthly asset servicing fee at an annual rate equal to 0.25% of the aggregate gross origination price or aggregate gross acquisition price for each real estate related loan then held by Terra Property Trust (inclusive of closing costs and expenses).

Disposition Fee. A disposition fee in the amount of 1.0% of the gross sale price received by Terra Property Trust from the disposition of each loan, but not upon the maturity, prepayment, workout, modification or extension of a loan unless there is a corresponding fee paid by the borrower, in which case the disposition fee will be the lesser of (i) 1.0% of the principal amount of the loan and (ii) the amount of the fee paid by the borrower in connection with such transaction. If Terra Property Trust takes ownership of a property as a result of a workout or foreclosure of a loan, Terra Property Trust will pay a disposition fee upon the sale of such property equal to 1.0% of the sales price.

Transaction Breakup Fee. In the event that Terra Property Trust receives any “breakup fees,” “busted-deal fees,” termination fees, or similar fees or liquidated damages from a third-party in connection with the termination or non-consummation of any loan or disposition transaction, Terra REIT Advisors will be entitled to receive one-half of such amounts, in addition to the reimbursement of all out-of-pocket fees and expenses incurred by Terra REIT Advisors with respect to its evaluation and pursuit of such transactions.

In addition to the fees described above, Terra Property Trust reimburses Terra REIT Advisors for operating expenses incurred in connection with services provided to the operations of Terra Property Trust, including Terra Property Trust’s allocable share of Terra REIT Advisors’ overhead, such as rent, employee costs, utilities, and technology costs.

The following table presents a summary of fees paid and costs reimbursed to the predecessor to Terra REIT Advisors as well as Terra REIT Advisors in connection with providing services to Terra Property Trust:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2018
 
2017
 
2018
 
2017
Origination fee expense (1)
 
$
439,252

 
$
624,255

 
$
1,385,832

 
$
2,381,562

Asset management fee
 
762,470

 
785,748

 
2,285,610

 
2,397,595

Asset servicing fee
 
184,655

 
152,047

 
529,403

 
529,535

Operating expenses reimbursed to Manager
 
1,016,040

 
725,197

 
2,663,562

 
2,425,699

Disposition fee (2)
 
180,923

 
197,614

 
701,236

 
798,333

Total
 
$
2,583,340

 
$
2,484,861

 
$
7,565,643

 
$
8,532,724

_______________
(1)
Origination fee expense is generally offset with origination fee income. Any excess is deferred and amortized to interest income over the term of the investment.
(2)
Disposition fee is generally offset with exit fee income on the consolidated statements of operations.

Off-Balance Sheet Arrangements

Other than contractual commitments and other legal contingencies incurred in the normal course of our business, we do not have any off-balance sheet financings or liabilities.

30


 


Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. We adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on our consolidated financial statements and disclosures.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity’s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. We adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on our consolidated financial statements and disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on our consolidated financial statements and disclosures as we do not have any lease arrangements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB’s Emerging Issues Task Force (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. We adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on our consolidated financial statements and disclosures.

In June 2018, the SEC adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a “smaller reporting company” if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on us.
    
In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. We do not expect the adoption of ASU 2018-13 to have a material impact on our consolidated financial statements and disclosures.

In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the “Final Rule”). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders’ equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November

31


 


5, 2018; however, the SEC would not object if a filer’s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. We intend to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on our consolidated financial statements and disclosures.
    
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
We may be subject to financial market risks, including changes in interest rates. To the extent that we borrow money to make investments, our net investment income will be dependent upon the difference between the rate at which we borrow funds and the rate at which we invest these funds. In periods of rising interest rates, our cost of funds would increase, which may reduce our net investment income. As a result, there can be no assurance that a significant change in market interest rates will not have a material adverse effect on our net investment income.
As of September 30, 2018, Terra Property Trust had seven investments with an aggregate principal balance of $75.3 million, net of obligations under participation agreements, that provide for interest income at an annual rate of LIBOR plus a spread, six of which are subject to a LIBOR floor. A decrease of 100 basis points in LIBOR would decrease our annual interest income, net of interest expense on participation agreements, by approximately $0.3 million, and an increase of 100 basis points in LIBOR would increase our annual interest income, net of interest expense on participation agreements, by approximately $0.5 million. Additionally, Terra Property Trust had $45.0 million of borrowings outstanding under a mortgage loan payable that bear interest at an annual rate of LIBOR plus 3.85% that is collateralized by an office building. A decrease of 100 basis points in LIBOR would decrease our annual interest expense by approximately $0.5 million and an increase of 100 basis points in LIBOR would increase our annual interest expense by approximately $0.5 million.

We may hedge against interest rate and currency exchange rate fluctuations by using standard hedging instruments, such as futures, options and forward contracts, subject to the requirements of the 1940 Act. While hedging activities may insulate us against adverse changes in interest rates, they may also limit our ability to participate in benefits of lower interest rates with respect to our portfolio of investments with fixed interest rates. For the three and nine months ended September 30, 2018 and 2017, we did not engage in interest rate hedging activities.

In addition, we may have risks regarding portfolio valuation. See “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Critical Accounting Policies — Fair Value Measurements” in this quarterly report on Form 10-Q.
Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures
As required by Rule 13a-15(b) under the Exchange Act, we carried out an evaluation, under the supervision and with the participation of our management, including the chief executive officer and chief financial officer of our Manager (performing functions equivalent to those a principal executive officer and principal financial officer of our company would perform if we had any officers), of the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2018. Based on that evaluation, the chief executive officer and chief financial officer of our Manager concluded that our disclosure controls and procedures were effective to provide reasonable assurance that we would meet our disclosure obligations. Notwithstanding the foregoing, a control system, no matter how well designed and operated, can provide only reasonable, not absolute assurance that it will detect or uncover failures within our company to disclose material information otherwise required to be set forth in our periodic reports.
Changes in Internal Control Over Financial Reporting

During the most recent fiscal quarter, there was no change in our internal controls over financial reporting, as defined under
Rule 13a-15(f) under the Exchange Act, that has materially affected, or is reasonably likely to materially affect, our internal controls over financial reporting.


32


 


PART II

Item 1. Legal Proceedings.
Neither we, Terra Property Trust nor our Manager is currently subject to any material legal proceedings, nor, to our knowledge, are material legal proceedings threatened against us, Terra Property Trust or our Manager. From time to time, we, Terra Property Trust and individuals employed by our Manager or its affiliates may be a party to certain legal proceedings in the ordinary course of business. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition or results of operations.

Item 1A. Risk Factors.
There have been no material changes from the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2017.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Not applicable.
Item 3. Defaults Upon Senior Securities.
Not applicable.
Item 4. Mine Safety Disclosures.
Not applicable.
Item 5. Other Information
None.

Item 6.  Exhibits.
The following exhibits are filed with this report. Documents other than those designated as being filed herewith are incorporated herein by reference.
Exhibit No.
 
Description and Method of Filing
2.1
 
 
 
 
2.2
 
 
 
 
2.3
 
 
 
 
2.4
 

33


 


Exhibit No.
 
Description and Method of Filing
 
 
 
2.5
 
 
 
 
2.6
 
 
 
 
3.1
 
 
 
 
31.1*
 
 
 
 
31.2*
 
 
 
 
32**
 
 
 
 
101.INS**
 
XBRL Instance Document
 
 
 
101.SCH**
 
XBRL Taxonomy Extension Schema Document
 
 
 
101.CAL**
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
 
 
101.LAB**
 
XBRL Taxonomy Extension Label Linkbase Document
 
 
 
101.PRE**
 
XBRL Taxonomy Extension Presentation Linkbase Document
 
 
 
101.DEF**
 
XBRL Taxonomy Extension Definition Linkbase Document
_______________
* Filed herewith.
** Furnished herewith.


34


 


SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Quarterly Report on Form10-Q to be signed on its behalf by the undersigned in the capacities indicated* thereunto duly authorized.

Date: November 9, 2018
 
TERRA SECURED INCOME FUND 5, LLC
 
 
 
 
By:
/s/ Bruce D. Batkin
 
 
Bruce D. Batkin
 
 
Chief Executive Officer
 
 
(Principal Executive Officer)
 
 
 
 
By:
/s/ Gregory M. Pinkus
 
 
Gregory M. Pinkus
 
 
Chief Financial Officer and Chief Operating Officer,
 
 
(Principal Financial and Accounting Officer)
___________

*  The registrant is a limited liability company managed by Terra Fund Advisors, LLC, its sole and managing member and the persons are signing in their respective capacities as officers of Terra Fund Advisors, LLC.


35


 
 EX-31.1 2 tsif59301810-qex311.htm EXHIBIT 31.1 Exhibit


Exhibit 31.1
 
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT TO RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
 
I, Bruce D. Batkin*, certify that:
 
1.
I have reviewed this Quarterly Report on Form 10-Q of Terra Secured Income Fund 5, LLC;
 
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
 
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
 
4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
 
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
 
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date:
November 9, 2018
 
 
 
/s/ Bruce D. Batkin
 
 
Bruce D. Batkin
 
 
Chief Executive Officer
 
 
(Principal Executive Officer)
___________

*  The registrant is a limited liability company managed by Terra Fund Advisors, LLC, its sole and managing member and the persons are signing in their respective capacities as officers of Terra Fund Advisors, LLC.




 EX-31.2 3 tsif59301810-qex312.htm EXHIBIT 31.2 Exhibit


Exhibit 31.2
 
CERTIFICATION OF CHIEF FINANCIAL OFFICER
PURSUANT TO RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934
AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
 
I, Gregory M. Pinkus*, certify that:
 
1.
I have reviewed this Quarterly Report on Form 10-Q of Terra Secured Income Fund 5, LLC;

2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.
The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.
The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date:
November 9, 2018
 
 
 
/s/ Gregory M. Pinkus
 
 
Gregory M. Pinkus
 
 
Chief Financial Officer and Chief Operating Officer
 
 
(Principal Financial and Principal Accounting Officer)
___________

*  The registrant is a limited liability company managed by Terra Fund Advisors, LLC, its sole and managing member and the persons are signing in their respective capacities as officers of Terra Fund Advisors, LLC.



 EX-32 4 tsif59301810-qex32.htm EXHIBIT 32 Exhibit


Exhibit 32
 
CERTIFICATION PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
 
In connection with the Quarterly Report on Form 10-Q of Terra Secured Income Fund 5, LLC. (the “Company”) for the quarterly period ended September 30, 2018, as filed with the Securities Exchange Commission on the date hereof (the “Report”), I, Bruce D. Batkin*, Chief Executive Officer of Terra Fund Advisors, LLC, and I, Gregory M. Pinkus*, Chief Financial Officer of Terra Fund Advisors, LLC, each certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to our knowledge:
 
1.
The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:
November 9, 2018
 
 
 
/s/ Bruce D. Batkin
 
 
Bruce D. Batkin
 
 
Chief Executive Officer
 
 
(Principal Executive Officer)
 
 
 
 
 
 
/s/ Gregory M. Pinkus
 
 
Gregory M. Pinkus
 
 
Chief Financial Officer and Chief Operating Officer
 
 
(Principal Financial and Principal Accounting Officer)
___________

*  The registrant is a limited liability company managed by Terra Fund Advisors, LLC, its sole and managing member and the persons are signing in their respective capacities as officers of Terra Fund Advisors, LLC.


Pursuant to the Securities and Exchange Commission Release 33-8238, dated June 5, 2003, this certification is being furnished and shall not be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any registration statement of the Company filed under the Securities Act of 1933, as amended.



 EX-101.INS 5 tsif-20180930.xml XBRL INSTANCE DOCUMENT 0001581874 2018-01-01 2018-09-30 0001581874 2018-11-09 0001581874 2018-06-30 0001581874 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member 2018-09-30 0001581874 2018-09-30 0001581874 us-gaap:FairValueInputsLevel3Member 2017-12-31 0001581874 tsif:ControlledMember tsif:TerraPropertyTrustMember 2018-09-30 0001581874 2017-01-01 2017-09-30 0001581874 2018-07-01 2018-09-30 0001581874 2017-07-01 2017-09-30 0001581874 tsif:NonmanagingMembersMember 2018-01-01 2018-09-30 0001581874 tsif:ManagingMembersMember 2017-12-31 0001581874 tsif:ManagingMembersMember 2018-01-01 2018-09-30 0001581874 tsif:NonmanagingMembersMember 2018-09-30 0001581874 tsif:NonmanagingMembersMember 2017-12-31 0001581874 tsif:ManagingMembersMember 2018-09-30 0001581874 tsif:NonmanagingMembersMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMembersMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMembersMember 2016-12-31 0001581874 tsif:NonmanagingMembersMember 2016-12-31 0001581874 tsif:NonmanagingMembersMember 2017-09-30 0001581874 2016-12-31 0001581874 2017-09-30 0001581874 tsif:ManagingMembersMember 2017-09-30 0001581874 tsif:ControlledMember tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:UT tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NBFactoryJVLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:WWML96MEZZLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:UT tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NBFactoryJVLLCMember 2017-12-31 0001581874 country:US tsif:InvestmentNetMember tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:CapeChurchMezzLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:NorthlandMuseoMemberLLCMember 2017-12-31 0001581874 country:US tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:WWML96MEZZLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:RetainedInterestMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:KOPHotelXXXIMezzLPMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:AHFHeritage1LLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:WWML96LLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:OR tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:PollinHotelsPDXMezzanineLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:SC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:HighPointeMezzanineInvestmentsLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:MillenniumWaterfrontAssociatesL.P.Member 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:WWML96LLCMember 2017-01-01 2017-12-31 0001581874 country:US tsif:ObligationsUnderParticipationAgreementsMember tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:Kingsport925MezzLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:RetainedInterestMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:KOPHotelXXXIMezzLPMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:SC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:HighPointeMezzanineInvestmentsLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:AHFHeritage1LLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:NorthlandMuseoMemberLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:AustinH.I.OwnerLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:CapeChurchMezzLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:Kingsport925MezzLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US tsif:TerraPropertyTrustMember us-gaap:RetainedInterestMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US tsif:OtherStatesMember tsif:TerraPropertyTrustMember us-gaap:RevolvingCreditFacilityMember tsif:OtherRealEstateTypeMember tsif:NelsonBrothersProfessionalRealEstateLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:A140SchermerhornStreetMezzLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US tsif:OtherStatesMember tsif:TerraPropertyTrustMember us-gaap:RevolvingCreditFacilityMember tsif:OtherRealEstateTypeMember tsif:NelsonBrothersProfessionalRealEstateLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:AustinH.I.OwnerLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:OR tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:PollinHotelsPDXMezzanineLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:MillenniumWaterfrontAssociatesL.P.Member 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:A140SchermerhornStreetMezzLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:LDMilipitasMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:SC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:HighPointeMezzanineInvestmentsLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:StonewallStationMezzLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:A2539MorseLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:KOPHotelXXXIMezzLPMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:AustinH.I.OwnerLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A221W17thStreetOwnerLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:MA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:IndustrialMember tsif:A150BlackstoneRiverRoadLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:StonewallStationMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:A37GablesMemberLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:SparQMezzBorrowerLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:A2539MorseLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:A140SchermerhornStreetMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:WWML96MEZZLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:NorthlandMuseoMemberLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:WWML96MEZZLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:NorthlandMuseoMemberLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:LDMilipitasMezzLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:SC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:HighPointeMezzanineInvestmentsLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:A37GablesMemberLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:Kingsport925MezzLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:SparQMezzBorrowerLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:KOPHotelXXXIMezzLPMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TX tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:AustinH.I.OwnerLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:TN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:Kingsport925MezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A221W17thStreetOwnerLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:MA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:IndustrialMember tsif:A150BlackstoneRiverRoadLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:A140SchermerhornStreetMezzLLCMember 2018-09-30 0001581874 tsif:TerraPropertyTrustMember us-gaap:RealEstateMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:RetainedInterestMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:LDMilipitasMezzLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:SparQMezzBorrowerLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:RetainedInterestMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:LDMilipitasMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:OfficeBuildingMember tsif:WindyHillPVSevenCMLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:GreystoneGablesHoldingsMemberLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:OrangeGrovePropertyInvestorsLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:OHMAtlantaOwnerLLCMember 2018-01-01 2018-09-30 0001581874 country:US tsif:TerraPropertyTrustMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:LandMember tsif:REECHarlemHoldingsCompanyLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:RSJZDriggsLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:OrangeGrovePropertyInvestorsLLCMember 2018-09-30 0001581874 country:US tsif:ObligationsUnderParticipationAgreementsMember tsif:TerraPropertyTrustMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:L.A.WarnerHotelPartnersLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:L.A.WarnerHotelPartnersLLCMember 2018-01-01 2018-09-30 0001581874 country:US tsif:InvestmentNetMember tsif:TerraPropertyTrustMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:OH tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NelsonBrothersProfessionalRealEstateLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:OfficeBuildingMember tsif:WindyHillPVSevenCMLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:MillenniumWaterfrontAssociatesL.P.Member 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:TSGParcel1LLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:CityGardens333LLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:IL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NBPrivateCapitalLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:RSJZDriggsLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:ASAMgtHoldingsLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:TSGParcel1LLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:SVAMgtHoldingsLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:WWML96LLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:OH tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NelsonBrothersProfessionalRealEstateLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:PA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:MillenniumWaterfrontAssociatesL.P.Member 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:GreystoneGablesHoldingsMemberLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:ASAMgtHoldingsLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:IL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NBPrivateCapitalLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:CityGardens333LLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:SVAMgtHoldingsLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:WWML96LLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:OHMAtlantaOwnerLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:LandMember tsif:REECHarlemHoldingsCompanyLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:TSGParcel1LLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:ASAMgtHoldingsLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:PalmerCityCoreStocktonStreetLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:OfficeBuildingMember tsif:MaguirePartners1733OceanLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:A37GablesMemberLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:OHMAtlantaOwnerLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:ASAMgtHoldingsLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:MA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:IndustrialMember tsif:A150BlackstoneRiverRoadLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:L.A.WarnerHotelPartnersLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:DE tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:OfficeBuildingMember tsif:BPGOfficePartnersIIIIVLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:MilestoneGreensboroHoldingsLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:A2539MorseLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:RSJZ2700NW2LLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:SVAMgtHoldingsLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:YMPGeorgiaPortfolioMezzanineLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:YMPGeorgiaPortfolioMezzanineLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:OHMAtlantaOwnerLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:PalmerCityCoreStocktonStreetLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:GreystoneGablesHoldingsMemberLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:DE tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:OfficeBuildingMember tsif:BPGOfficePartnersIIIIVLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:SparQMezzBorrowerLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:GreystoneGablesHoldingsMemberLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:IN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:MuncieMezzLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:OfficeBuildingMember tsif:MaguirePartners1733OceanLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:A2539MorseLLCMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:MultifamilyMember tsif:A37GablesMemberLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:MilestoneGreensboroHoldingsLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:AL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:SVAMgtHoldingsLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:RSJZ2700NW2LLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:HotelMember tsif:L.A.WarnerHotelPartnersLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:MA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:IndustrialMember tsif:A150BlackstoneRiverRoadLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:TSGParcel1LLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:IN tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:StudentHousingMember tsif:MuncieMezzLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:GA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:OHMAtlantaOwnerLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:ControlledMember tsif:SubsequentAcquisitionMember tsif:TerraPropertyTrustMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:CondominiumMember tsif:OrangeGrovePropertyInvestorsLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:LandMember tsif:TSGParcel1LLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2017-01-01 2017-12-31 0001581874 tsif:ControlledMember tsif:InitialAcquisitionMember tsif:TerraPropertyTrustMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:OfficeBuildingMember tsif:WindyHillPVSevenCMLLCMember 2018-01-01 2018-09-30 0001581874 tsif:ControlledMember tsif:InitialAcquisitionMember tsif:TerraPropertyTrustMember 2017-01-01 2017-12-31 0001581874 tsif:ControlledMember tsif:SubsequentAcquisitionMember tsif:TerraPropertyTrustMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:FL tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:CGI1100BiscayneManagementHoldcoLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:IL tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:NBPrivateCapitalLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember us-gaap:FirstMortgageMember us-gaap:OfficeBuildingMember tsif:MaguirePartners1733OceanLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:StonewallStationMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:LandMember tsif:REECHarlemHoldingsCompanyLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:OfficeBuildingMember tsif:WindyHillPVSevenCMLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:WA tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember us-gaap:MultifamilyMember tsif:TheBristolatSouthportLLCMember 2017-01-01 2017-12-31 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:PreferredEquityInvestmentMember tsif:StudentHousingMember tsif:CityGardens333LLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NC tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:StonewallStationMezzLLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:CurrentRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:NY tsif:PaymentsInKindRateMember tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember tsif:CondominiumMember tsif:A575CADILLCMember 2018-01-01 2018-09-30 0001581874 tsif:NoncontrolledMember country:US stpr:CA tsif:TerraPropertyTrustMember tsif:MezzanineLoanMember us-gaap:HotelMember tsif:LDMilipitasMezzLLCMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-09-30 0001581874 us-gaap:MinimumMember 2018-09-30 0001581874 us-gaap:MaximumMember 2018-09-30 0001581874 tsif:TerraPropertyTrustMember 2018-07-01 2018-09-30 0001581874 tsif:TerraPropertyTrustMember 2017-01-01 2017-09-30 0001581874 tsif:TerraPropertyTrustMember 2018-01-01 2018-09-30 0001581874 tsif:TerraPropertyTrustMember 2017-07-01 2017-09-30 0001581874 us-gaap:FairValueInputsLevel2Member 2018-09-30 0001581874 us-gaap:FairValueInputsLevel1Member 2018-09-30 0001581874 us-gaap:FairValueInputsLevel3Member 2017-01-01 2017-09-30 0001581874 us-gaap:FairValueInputsLevel3Member 2018-01-01 2018-09-30 0001581874 us-gaap:FairValueInputsLevel3Member 2016-12-31 0001581874 us-gaap:FairValueInputsLevel3Member 2017-09-30 0001581874 us-gaap:FairValueInputsLevel2Member 2017-12-31 0001581874 us-gaap:FairValueInputsLevel1Member 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member us-gaap:MinimumMember 2017-01-01 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member 2017-01-01 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member us-gaap:WeightedAverageMember 2017-01-01 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member us-gaap:MaximumMember 2017-01-01 2017-12-31 0001581874 tsif:TerraPropertyTrustMember 2018-09-30 0001581874 tsif:TerraPropertyTrustMember 2017-12-31 0001581874 us-gaap:FairValueInputsLevel3Member 2017-07-01 2017-09-30 0001581874 us-gaap:FairValueInputsLevel3Member us-gaap:WeightedAverageMember 2018-01-01 2018-09-30 0001581874 us-gaap:FairValueInputsLevel3Member us-gaap:MaximumMember 2018-01-01 2018-09-30 0001581874 us-gaap:FairValueInputsLevel3Member 2018-07-01 2018-09-30 0001581874 tsif:TerraFundAdvisorsMember 2018-01-01 2018-09-30 0001581874 tsif:TerraCapitalPartnersMember 2018-01-01 2018-09-30 0001581874 tsif:TerraREITAdvisorsMember 2018-01-01 2018-09-30 0001581874 tsif:AdditionalAcquisitionMember tsif:TerraIncomeAdvisorsMember 2018-01-01 2018-09-30 0001581874 tsif:InitialAcquisitionMember tsif:TerraIncomeAdvisorsMember 2018-01-01 2018-09-30 0001581874 tsif:TotalMember tsif:TerraIncomeAdvisorsMember 2018-01-01 2018-09-30 0001581874 tsif:ManagingMemberMember tsif:ContinuingIncomeUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:ContinuingIncomeUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMemberMember tsif:ContinuingIncomeUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMemberMember 2016-12-31 0001581874 tsif:NonmanagingMemberMember 2017-09-30 0001581874 tsif:TerminationUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:NonmanagingMemberMember 2017-12-31 0001581874 tsif:ManagingMemberMember 2017-12-31 0001581874 tsif:NonmanagingMemberMember tsif:ContinuingIncomeUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:NonmanagingMemberMember tsif:TerminationUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:ContinuingIncomeUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:NonmanagingMemberMember 2016-12-31 0001581874 tsif:TerminationUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:NonmanagingMemberMember 2018-09-30 0001581874 tsif:ManagingMemberMember tsif:TerminationUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:NonmanagingMemberMember tsif:ContinuingIncomeUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:ManagingMemberMember tsif:TerminationUnitsHolderMember 2018-01-01 2018-09-30 0001581874 tsif:ManagingMemberMember 2018-09-30 0001581874 tsif:NonmanagingMemberMember tsif:TerminationUnitsHolderMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMemberMember 2017-09-30 0001581874 tsif:NonmanagingMemberMember 2018-09-30 0001581874 tsif:RightsOfferingMember 2018-09-30 0001581874 tsif:InitialOfferingMember 2018-09-30 0001581874 tsif:ManagerOrLimitedPartnerMember 2018-01-01 2018-09-30 0001581874 us-gaap:MinimumMember 2018-01-01 2018-09-30 0001581874 us-gaap:MaximumMember 2018-01-01 2018-09-30 0001581874 tsif:ContinuingIncomeUnitsHolderMember 2018-09-30 0001581874 tsif:NonmanagingMemberMember 2017-12-31 0001581874 tsif:ManagingMemberMember 2017-01-01 2017-09-30 0001581874 tsif:ManagingMemberMember 2018-01-01 2018-09-30 0001581874 us-gaap:MinimumMember 2017-01-01 2017-09-30 0001581874 tsif:ContinuingIncomeUnitsHolderMember tsif:RightsOfferingMember 2017-01-01 2017-09-30 0001581874 tsif:ManagerOrLimitedPartnerMember 2017-01-01 2017-09-30 0001581874 tsif:ContinuingIncomeUnitsHolderMember tsif:RightsOfferingMember 2018-01-01 2018-09-30 0001581874 us-gaap:MaximumMember 2017-01-01 2017-09-30 0001581874 tsif:NonmanagingMemberClassMember 2018-01-01 2018-09-30 0001581874 tsif:NonmanagingMemberClassMember 2017-01-01 2017-09-30 0001581874 tsif:NonmanagingMemberClassMember 2017-09-30 0001581874 tsif:NonmanagingMemberClassMember 2017-01-01 2017-12-31 0001581874 tsif:NonmanagingMemberClassMember 2018-09-30 0001581874 tsif:NonmanagingMemberClassMember 2016-01-01 2016-12-31 0001581874 tsif:NonmanagingMemberClassMember 2016-12-31 0001581874 tsif:NonmanagingMemberClassMember 2017-12-31 tsif:Number_of_Funds tsif:Extension xbrli:pure xbrli:shares iso4217:USD iso4217:USD xbrli:shares false --12-31 Q3 2018 2018-09-30 10-Q 0001581874 6643.4 Yes Smaller Reporting Company 0 Terra Secured Income Fund 5, LLC 0.120 0.120 0.100 0.020 0.100 0.025 0.120 0.120 0.020 0.120 0.100 0.020 2022-08-01 2022-08-01 2020-11-01 2020-10-01 2018-08-04 2018-01-17 2018-04-10 2018-03-09 2018-06-05 2019-05-17 2019-06-16 2019-06-16 2018-03-01 2019-01-06 2018-06-20 2023-09-06 2027-09-06 2018-03-01 2019-08-01 2019-07-15 2018-12-31 2019-12-01 2018-12-31 2018-10-06 2022-12-06 2018-12-28 2024-01-06 2018-12-05 2020-10-06 2022-08-11 2018-12-06 2020-06-26 2022-09-22 2019-02-01 2022-08-01 2022-08-01 2020-11-01 2021-06-27 2020-10-01 2021-06-01 2021-04-01 2019-08-02 2021-01-09 2018-12-31 2019-05-17 2019-06-16 2019-06-16 2018-12-20 2020-07-27 2027-09-06 2021-05-20 2019-03-31 2019-07-31 2018-12-31 2019-12-01 2018-12-31 2023-03-09 2020-05-01 2019-02-01 2022-12-06 2018-12-28 2024-01-06 2018-12-05 2020-10-06 2018-12-06 2022-09-22 8 0 0 0 0.040 0.025 0.040 0.025 0.085 0.060 0.090 0.085 0.085 0.060 0.090 0.085 0.010 0.010 0.010 0.010 0.010 0.010 0.000 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.010 0.000 0.010 0.010 0.010 0.010 0.010 0.010 0.000 0.010 0.010 0.005 0.010 0.010 0.010 0.010 0.000 0.010 -4598716 -12379894 -7300400 -17921479 0.85 0.15 0.85 0.15 3401 3372 8 0 0.0 0.0 7.9 121.1 7.9 121.1 0.0 0.0 3.6 50.4 3.6 50.4 0 0 275549455 267992895 4769387 16157035 0 16157035 5178239 17129624 0 17129624 2 5 0.05 0.05 6801 6670 95728 165048 275645183 268157943 41520 167784 212366 130899 126264 -81467 14912990 14912990 14912990 14912990 6826.5 0.0 6826.5 6697.5 0.0 6697.5 6697.4 0.0 6697.4 6643.4 0.0 6643.4 0.028 0.040 0.020 0.020 0.030 0.035 23127464 0 0 23127464 22497394 0 0 22497394 23129410 22497365 13100000 29700000 8100000 24900000 1.000 1.000 408993175 437435803 51899445 41064173 23307944 23431489 275509706 268431127 133483469 169004676 4448792 15703171 5487805 17829718 357093730 339615579 110175525 145573187 9651677 28197274 12788205 35751197 0.1600 0.0256 0.1350 0.1600 0.1435 None None None None None None None None 920026 -355600 290419317 277326857 275428953 268006493 Discounted cash flow (1) Discounted cash flow (1) -604169 -114209 0 0 4448903 15704235 5487942 17830858 0 0 -251702 69320 -463249 0 -898 16716 0 0 3401 3372 0.0022 0.0017 135 -53 0.0543 0.0607 0.0626 0.0670 2375 2569 2240 2622 0.0713 0.0861 4448792 15703171 5487805 17829718 4341355 15237009 0 15237009 5358085 17485224 0 17485224 275401972 275401972 3772716 2139967 1632749 112268669 2350365 452358 32640675 4368250 18180000 54277021 10094309 52593063 24717857 5797477 504129 21573600 31423030 3663309 27759721 2689608 7000000 3537223 56561816 12609885 17321426 10012399 15118900 1499206 5181187 1804715 14468250 3381980 3115146 8722871 3524694 1223634 3974543 3595670 22743477 14140000 355289015 1804715 281040451 76053279 357093730 268335112 268335112 2136357 1629622 4703686 0 7679794 8410443 19497232 32541303 15262246 18180000 23653730 5802382 504555 27775000 25598552 7000000 8114824 4744073 14641091 14476020 15130200 1564414 20619375 2404103 4620750 1805201 14468250 3337345 3045087 3527143 3995372 23123032 121655948 157911984 60423250 238874893 100740686 339991182 275428953 275428953 3736507 2120720 1615787 112051726 2352364 452772 32417778 4367816 18178193 54282803 10098872 52614536 24734246 5804127 504707 21571456 31294748 3535027 27759721 3033655 7000000 3534591 56616887 12612289 17348948 10023515 15131264 1500871 5196794 1807503 14466812 3416021 3099690 8724485 3527956 1142423 4054106 3595670 22807927 14138248 355427169 1807503 281243236 75991436 357234672 0 0 275428953 268006493 268006493 2120720 1615786 4708032 0 7687489 8414279 19497232 32417778 15262246 18178154 23672509 5806875 504946 27772240 25598552 6799810 8122926 4745028 14644145 14479085 15174078 1564746 20619375 2404103 4620215 1809101 14466812 3059075 3037332 3505642 4000000 23030885 121251127 157670863 60417206 238776466 100562730 339339196 0 0 268006493 3700000 2100000 1600000 110957267 2333333 449140 32100000 4325000 18000000 53749794 10000000 52132523 24522523 5750000 500000 21360000 31000000 3500000 27500000 2700000 7000000 3500000 56102764 12512370 17178883 9925340 15000000 1486171 5000000 1800000 14325000 3000000 3000000 8631243 3500000 1131243 4000000 3595670 22616528 14000000 351260995 1800000 277983104 75077891 353060995 2100000 1600000 4666666 0 7620000 8350000 19497232 32100000 15149586 18000000 23450016 5750000 500000 27500000 25500000 7000000 8059559 4700000 14517192 14337270 15000000 1549420 20619375 2384501 4575000 1800000 14325000 3000000 3000000 3500000 4000000 22984018 120400703 156909132 59825000 237334480 99800355 337134835 50000000 3000000 1.00 1.000 0.014 0.008 0.006 0.408 0.009 0.002 0.118 0.016 0.066 0.197 0.037 0.191 0.090 0.021 0.002 0.078 0.114 0.013 0.101 0.011 0.025 0.013 0.205 0.046 0.063 0.036 0.055 0.005 0.019 0.01 0.053 0.012 0.011 0.032 0.013 0.004 0.015 0.012 0.083 0.051 1.291 0.01 1.02 0.28 1.30 1.00 0.008 0.006 0.018 0.000 0.029 0.031 0.073 0.121 0.057 0.068 0.088 0.022 0.002 0.104 0.096 0.025 0.030 0.018 0.055 0.054 0.057 0.006 0.077 0.009 0.017 0.007 0.054 0.011 0.011 0.013 0.015 0.086 0.453 0.589 0.226 0.891 0.375 1.266 2016-01-01 2016-03-07 2012-04-07 2012-04-07 2017-10-20 2017-09-29 2014-07-25 2014-01-17 2015-07-10 2016-03-07 2015-06-05 2017-11-17 2016-06-16 2016-06-16 2016-09-01 2013-12-19 2017-06-20 2013-08-29 2017-09-21 2013-03-01 2017-01-31 2016-03-15 2015-12-18 2016-11-16 2015-12-18 2013-09-23 2015-11-24 2015-07-02 2013-12-27 2014-01-06 2015-09-30 2012-07-30 2013-11-22 2017-06-29 2017-09-22 2016-08-31 2016-01-01 2016-03-07 2012-04-07 2012-04-07 2017-10-20 2018-06-27 2017-09-29 2018-05-24 2018-04-11 2014-07-25 2018-01-09 2015-07-10 2017-11-17 2016-06-16 2016-06-16 2017-06-20 2018-07-27 2017-09-21 2018-06-01 2018-01-19 2017-01-31 2015-12-18 2016-11-16 2015-12-18 2018-03-09 2018-05-01 2016-07-27 2015-11-24 2015-07-02 2013-12-27 2014-01-06 2015-09-30 2013-11-22 2017-09-22 95728 165048 275645183 268157943 0.25 2023-12-31 Delaware 375603 0.085 0.1025 0.080 0.0995 0.100 0.090 0.105 0.125 54000000 LIBOR LIBOR LIBOR LIBOR LIBOR LIBOR LIBOR LIBOR 289586404 0 289586404 277312801 0 277312801 275549455 0 275549455 267992895 0 267992895 44800000 0.160 0.160 0.110 0.120 0.120 0.120 0.120 0.135 0.130 0.130 0.120 0.140 0.120 0.130 0.085 0.140 0.120 0.130 0.120 0.130 0.130 0.13 0.120 0.130 0.130 0.125 0.140 0.120 0.150 0.140 0.160 0.160 0.110 0.130 0.120 0.120 0.122 0.120 0.125 0.123 0.160 0.130 0.130 0.120 0.140 0.085 0.140 0.128 0.145 0.130 0.120 0.130 0.148 0.123 0.140 0.130 0.120 0.130 0.130 0.125 0.120 0.120 42423 41405 41143 41143 40340 40340 -28409178 -24686155 28535442 24604688 107548 467226 129857 345634 2013-08-08 3864 20551 8700000 4300000 3448 35761 2891 10832 111 1064 137 1140 0 56756051 56800000 5279768 260000 5040000 2188790 130000 2100000 8700000 14012486 14000000 14012486 2600000 7100000 7066860 7066860 104100 431465 126966 334802 12000000 0.167 0.490 0.657 0.657 0.490 0.657 43410 50000 47000 5303174 0 5303174 2188790 0 2188790 428032 920026 920026 0 920026 -179846 -355600 -355600 0 -355600 <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 3. Investment and Fair Value</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity Investment in Terra Property Trust</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company invests substantially all of its equity capital in the purchase of common shares of Terra Property Trust. </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of the Company&#8217;s investment at </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:26%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September 30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Investment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">% of Members&#8217; Capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">% of Members&#8217; Capital</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,912,990 common shares </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;of Terra Property Trust, Inc.</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,335,112</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,401,972</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the </font><font style="font-family:inherit;font-size:10pt;">three months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company received approximately </font><font style="font-family:inherit;font-size:10pt;">$8.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13.1 million</font><font style="font-family:inherit;font-size:10pt;"> of distributions from Terra Property Trust, respectively, of which </font><font style="font-family:inherit;font-size:10pt;">$2.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$8.7 million</font><font style="font-family:inherit;font-size:10pt;"> was a return of capital, respectively. For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company received approximately </font><font style="font-family:inherit;font-size:10pt;">$24.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$29.7 million</font><font style="font-family:inherit;font-size:10pt;"> of distributions from Terra Property Trust, respectively, of which </font><font style="font-family:inherit;font-size:10pt;">$7.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$14.0 million</font><font style="font-family:inherit;font-size:10pt;"> were returns of capital, respectively. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the summarized financial&#160;information of Terra Property Trust:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:66%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September&#160;30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of loans held for investment</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">339,615,579</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">357,093,730</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate owned, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,756,051</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,064,173</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51,899,445</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">437,435,803</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">408,993,175</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage loan payable and obligations under participation agreements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(145,573,187</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(110,175,525</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(23,431,489</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(23,307,944</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(169,004,676</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(133,483,469</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stockholder&#8217;s equity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,431,127</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,509,706</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended September 30,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,788,205</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,651,677</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35,751,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,197,274</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7,300,400</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,598,716</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(17,921,479</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(12,379,894</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Realized gain on investments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(604,169</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(114,209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,487,805</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,448,792</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,829,718</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,703,171</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fair Value Measurements</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company adopted the provisions of ASC 820, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 820&#8221;), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 established a fair value hierarchy that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level&#160;1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements). Investments measured and reported at fair value are classified and disclosed into one of the following categories based on the inputs as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;1 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;2 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Pricing inputs are other than quoted prices in active markets, including, but not limited to, quoted prices for similar assets and liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;3 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Significant unobservable inputs are based on the best information available in the circumstances, to the extent observable inputs are not available, including the Company&#8217;s own assumptions used in determining the fair value of investments. Fair value for these investments are determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance, and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment&#8217;s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company&#8217;s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Assets and Liabilities Reported at Fair Value</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;">The following table summarizes the Company&#8217;s equity investment in Terra Property Trust at fair value on a recurring basis as of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September&#160;30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value Measurements</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investment:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value Measurements</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investment:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Changes in Level 3 investment for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> were as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:70%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Equity Investment in Terra Property Trust</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">290,419,317</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Return of capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7,066,860</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,012,486</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(355,600</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">920,026</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">277,326,857</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment for the period </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;relating to those Level 3 assets that were still held by the Company </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(355,600</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">920,026</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Transfers between levels, if any, are recognized at the beginning of the period in which transfers occur. For the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, there were no transfers. </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company estimated that its other financial assets and liabilities had fair values that approximated their carrying values at </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;"> due to their short-term nature.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Valuation Process for Fair Value Measurement </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Market quotations are not readily available for the Company&#8217;s investment in Terra Property Trust, which is included in Level 3 of the fair value hierarchy.&#160;The fair value of the Company&#8217;s sole investment takes into consideration the fair value of Terra Property Trust&#8217;s assets and liabilities which are valued utilizing a yield approach, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">i.e.</font><font style="font-family:inherit;font-size:10pt;"> a discounted cash flow methodology. Terra Property Trust&#8217;s valuation considers fair value of each respective loan held for investment in the portfolio using an estimated market yield. In following this methodology, loans are evaluated individually, and management takes into account, in determining the risk-adjusted discount rate for each of the Company&#8217;s loans, relevant factors, including available current market data on applicable yields of comparable debt/preferred equity instruments; market credit spreads and yield curves; the investment&#8217;s yield; covenants of the investment, including prepayment provisions; the portfolio company&#8217;s ability to make payments, its net operating income, debt-service coverage ratio (&#8220;DSCR&#8221;); construction progress reports and construction budget analysis; the nature, quality, and realizable value of any collateral (and loan-to-value ratio); and the forces that influence the local markets in which the asset (the collateral) is purchased and sold, such as capitalization rates, occupancy rates, rental rates, replacement costs and the anticipated duration of each real estate-related loan. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Manager designates a valuation committee to oversee the entire valuation process of the Company&#8217;s Level 3 investments. The valuation committee is comprised of members of the Manager&#8217;s senior management, deal and portfolio management teams, who meet on a quarterly basis, or more frequently as needed, to review the Company investments being valued as well as the inputs used in the proprietary valuation model. Valuations determined by the valuation committee are supported by pertinent data and, in addition to a proprietary valuation model, are based on market data, industry accepted third-party valuation models and discount rates or other methods the valuation committee deems to be appropriate.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables summarize the valuation techniques and significant unobservable inputs used by the Company to value the Level 3 investments as of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. The tables are not intended to be all-inclusive, but instead identify the significant unobservable inputs relevant to the determination of fair values. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Valuation Technique</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unobservable Inputs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Asset Category</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Minimum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maximum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discounted cash flow </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discount rate </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14.35</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Valuation Technique</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unobservable Inputs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Asset Category</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Minimum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maximum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discounted cash flow </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discount rate </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.56</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13.50</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_______________</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Discounted cash flows and discount rates applied to Terra Property Trust&#8217;s assets and liabilities.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> Termination Units outstanding.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation and Principles of Consolidation</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) and include all of the Company&#8217;s accounts and those of its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The accompanying interim financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company is an investment company, as defined under U.S. GAAP, and applies accounting and reporting guidance in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) ASC Topic 946, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Services&#160;-&#160;Investment Companies</font><font style="font-family:inherit;font-size:10pt;">. </font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Cash and Cash Equivalents</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments, with original maturities of ninety days or less when purchased, as cash equivalents.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents are exposed to concentrations of credit risk. The Company maintains all of its cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 6. Commitments and Contingencies</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company enters into contracts that contain a variety of indemnification provisions. The Company&#8217;s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Manager has reviewed the Company&#8217;s existing contracts and expects the risk of loss to the Company to be remote.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is not currently subject to any material legal proceedings and, to the Company&#8217;s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company&#8217;s rights under contracts with its portfolio companies. While the outcome of any legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material adverse effect upon its financial condition or results of operations.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity Investment in Terra Property Trust</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust represents the Company&#8217;s equity interest in Terra Property Trust, which was initially recorded at cost. Subsequent to the asset contribution, the equity investment is reported, at each reporting date, at fair value on the consolidated statements of financial condition. Change in fair value is reported in net change in unrealized appreciation or depreciation on investment on the consolidated statements of operations.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables summarize the valuation techniques and significant unobservable inputs used by the Company to value the Level 3 investments as of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. The tables are not intended to be all-inclusive, but instead identify the significant unobservable inputs relevant to the determination of fair values. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Valuation Technique</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unobservable Inputs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">September 30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Asset Category</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Minimum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maximum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discounted cash flow </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discount rate </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">7.30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14.35</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:17%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="4" rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Primary Valuation Technique</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Unobservable Inputs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Asset Category</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Minimum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maximum</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Weighted Average</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Assets:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discounted cash flow </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Discount rate </font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.56</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">16.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13.50</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_______________</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Discounted cash flows and discount rates applied to Terra Property Trust&#8217;s assets and liabilities.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the Company&#8217;s equity investment in Terra Property Trust at fair value on a recurring basis as of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">: </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September&#160;30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value Measurements</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investment:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:41%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value Measurements</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Level 3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investment:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Changes in Level 3 investment for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> were as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:70%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Equity Investment in Terra Property Trust</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">290,419,317</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Return of capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7,066,860</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,012,486</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(355,600</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">920,026</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">277,326,857</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment for the period </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;relating to those Level 3 assets that were still held by the Company </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(355,600</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">920,026</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company adopted the provisions of ASC 820, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement</font><font style="font-family:inherit;font-size:10pt;"> (&#8220;ASC 820&#8221;), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 established a fair value hierarchy that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level&#160;1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements). Investments measured and reported at fair value are classified and disclosed into one of the following categories based on the inputs as follows:</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;1 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;2 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Pricing inputs are other than quoted prices in active markets, including, but not limited to, quoted prices for similar assets and liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Level&#160;3 </font><font style="font-family:inherit;font-size:10pt;">&#8212; Significant unobservable inputs are based on the best information available in the circumstances, to the extent observable inputs are not available, including the Company&#8217;s own assumptions used in determining the fair value of investments. Fair value for these investments are determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance, and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment&#8217;s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company&#8217;s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 5. Risks and Uncertainties</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s investment in Terra Property Trust is highly illiquid and there is no assurance that the Company will achieve its investment objectives, including targeted returns. Terra Property Trust&#8217;s loans are highly illiquid. Due to the illiquidity of the loans, valuation of the loans may be difficult, as there generally will be no established markets for these loans. As the Company&#8217;s investment is carried at fair value with fair value changes recognized in the consolidated statements of operations, all changes in market conditions would directly affect the Company&#8217;s members&#8217; capital.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of the Company&#8217;s taxable income. The Company, however, may be liable for New York City Unincorporated Business Tax (the &#8220;NYC UBT&#8221;) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, none of the Company&#8217;s income was subject to the NYC UBT. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the consolidated financial statements and tax basis assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Such deferred tax assets and liabilities were not material.</font></div><div style="line-height:120%;text-align:justify;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, nor did the Company have any unrecognized tax benefits as of the periods presented herein. The Company recognizes interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in its consolidated statements of operations. For the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company did not incur any interest or penalties. Although the Company files federal and state tax returns, its primary tax jurisdiction is federal. The Company&#8217;s inception-to-date federal tax years remain subject to examination by the Internal Revenue Service. </font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following summarizes the Company&#8217;s financial highlights for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:63%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Per unit operating performance:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net asset value per unit, beginning of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,143</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,423</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Increase in members&#8217; capital from operations </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:10pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investment income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,240</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(53</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">135</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total increase in members&#8217; capital from operations</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,569</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,375</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions to member </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:10pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capital distributions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,372</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,401</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net decrease in members&#8217; capital resulting from distributions</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,372</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capital share transactions:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net increase in members&#8217; capital resulting from capital share transactions</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net asset value per unit, end of period</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40,340</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,405</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ratios to average net assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.17</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.22</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investment income</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IRR, beginning of period</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.26</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IRR, end of period</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.70</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.07</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_______________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were </font><font style="font-family:inherit;font-size:10pt;">6,670</font><font style="font-family:inherit;font-size:10pt;"> units and </font><font style="font-family:inherit;font-size:10pt;">6,801</font><font style="font-family:inherit;font-size:10pt;"> units for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 8. Financial Highlights </font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The financial highlights represent the per unit operating performance, return and ratios for the non-managing members&#8217; class, taken as a whole, for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. These financial highlights consist of the operating performance, the internal rate of return (&#8220;IRR&#8221;) since inception of the Company, and the expense and net investment income ratios which are annualized except for the non-recurring expenses. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The IRR, net of all fees and carried interest (if any), is computed based on actual dates of the cash inflows (capital contributions), outflows (capital distributions), and the ending capital at the end of the respective period (residual value) of the non-managing members&#8217; capital account.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following summarizes the Company&#8217;s financial highlights for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:63%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Per unit operating performance:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net asset value per unit, beginning of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,143</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,423</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Increase in members&#8217; capital from operations </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font><font style="font-family:inherit;font-size:10pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investment income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,240</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net change in unrealized (depreciation) appreciation on investment</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(53</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">135</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total increase in members&#8217; capital from operations</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,569</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,375</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions to member </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(2)</sup></font><font style="font-family:inherit;font-size:10pt;">:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capital distributions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,372</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,401</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net decrease in members&#8217; capital resulting from distributions</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,372</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capital share transactions:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net increase in members&#8217; capital resulting from capital share transactions</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net asset value per unit, end of period</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40,340</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,405</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Ratios to average net assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.17</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.22</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investment income</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8.61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7.13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IRR, beginning of period</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.26</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5.43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IRR, end of period</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.70</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6.07</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">_______________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were </font><font style="font-family:inherit;font-size:10pt;">6,670</font><font style="font-family:inherit;font-size:10pt;"> units and </font><font style="font-family:inherit;font-size:10pt;">6,801</font><font style="font-family:inherit;font-size:10pt;"> units for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 7. Members&#8217; Capital</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;">6,643.4</font><font style="font-family:inherit;font-size:10pt;"> units and </font><font style="font-family:inherit;font-size:10pt;">6,697.4</font><font style="font-family:inherit;font-size:10pt;"> units outstanding, respectively, and the net asset value per unit was </font><font style="font-family:inherit;font-size:10pt;">$40,340</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$41,143</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Capital Contributions</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of January 31, 2015, the offering period ended and the Company stopped accepting capital contributions.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Capital Distributions</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At the discretion of the Manager, the Company may make distributions from net cash flow from operations, net disposition proceeds, or other cash available for distribution. Distributions are made to holders of Continuing Income Units (regular units of limited liability company interest in the Company) in proportion to their unit holdings until they receive a return of their initial Deemed Capital Contribution, as defined in the operating agreement, plus a preferred return ranging from </font><font style="font-family:inherit;font-size:10pt;">8.5%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">9.0%</font><font style="font-family:inherit;font-size:10pt;"> depending on the historical preferred return applicable to their Terra Fund units, after which time distributions are made </font><font style="font-family:inherit;font-size:10pt;">15%</font><font style="font-family:inherit;font-size:10pt;"> to the Manager which the Company referred to as the carried interest distribution, and </font><font style="font-family:inherit;font-size:10pt;">85%</font><font style="font-family:inherit;font-size:10pt;"> to the holders of Continuing Income Units. The preferred return applicable to the Continuing Income Units sold in the offering concurrent with the Merger is </font><font style="font-family:inherit;font-size:10pt;">8.5%</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, holders of Termination Units (membership interest in the Company that were issued to members of Terra Funds 1 through 4 who chose to enter the liquidation phase of their investments) receive monthly distributions at a fixed rate of </font><font style="font-family:inherit;font-size:10pt;">6.0%</font><font style="font-family:inherit;font-size:10pt;"> per annum of the Unreturned Invested Capital (capital contributions less cumulative stated distributions of principal and less any amounts paid in redemption). </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company made total distributions to non-manager members of </font><font style="font-family:inherit;font-size:10pt;">$22.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$23.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company did not make any carried interest distributions to the Manager. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Capital Redemptions </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the Merger, members of Terra Funds 1 through 4 who wished to enter the liquidation phase of their investments chose to receive Termination Units as merger consideration. These Termination Units will be redeemed on the original expected liquidation dates of the funds. For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">3.6</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">7.9</font><font style="font-family:inherit;font-size:10pt;"> Continuing Income Units, respectively, were redeemed for </font><font style="font-family:inherit;font-size:10pt;">$0.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.3 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and </font><font style="font-family:inherit;font-size:10pt;">50.4</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">121.1</font><font style="font-family:inherit;font-size:10pt;">Termination Units, respectively, were redeemed for </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$5.0 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. As of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;">, there were no Termination Units outstanding.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At the discretion of the Manager, a reserve of </font><font style="font-family:inherit;font-size:10pt;">5%</font><font style="font-family:inherit;font-size:10pt;"> of cash from operations may be established in order to repurchase units from non-managing members. The Manager is under no obligation to redeem non-managing members&#8217; units. As of </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, no such reserve was established.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Allocation of Income (Loss)</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Profits and losses are allocated to the members in proportion to the units held in a given calendar year. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Member Units</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each membership interest through the original offering was offered for a price of $</font><font style="font-family:inherit;font-size:10pt;">50,000</font><font style="font-family:inherit;font-size:10pt;"> per unit. The membership interests in Terra Funds 1 through 4 were exchanged for units of the Company at a price of $</font><font style="font-family:inherit;font-size:10pt;">43,410</font><font style="font-family:inherit;font-size:10pt;"> per unit, which was the exchange value per unit of the Company on December 31, 2015, and the units in the offering concurrent with the Merger was offered at a price of $</font><font style="font-family:inherit;font-size:10pt;">47,000</font><font style="font-family:inherit;font-size:10pt;"> per unit. The following table provides a roll forward of the units outstanding of the Company for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="19" rowspan="1"></td></tr><tr><td style="width:29%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Managing</font></div><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Member</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Non-Managing Members</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Managing<br clear="none"/>Member</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Non-Managing Members</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Units outstanding, beginning of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,826.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,826.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Early redemption of Continuing </font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;Income Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Termination Units redeemed</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(121.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(121.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Units outstanding, end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,643.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,643.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 1. Business</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Terra Secured Income Fund 5, LLC (and, together with its consolidated subsidiaries, the &#8220;Company&#8221;), is a specialized real estate finance company that originates, structures, funds and manages high yielding commercial real estate investments, including mezzanine loans, first mortgage loans, subordinated mortgage loans and preferred equity investments throughout the United States. The Company&#8217;s investments finance the acquisition, construction, development or redevelopment of quality commercial real estate in the United States. The Company focuses on smaller, middle market loans in the approximately $3 million to $50 million range which are financing properties in primary and secondary markets because it believes these loans are subject to less competition, offer higher risk adjusted returns than larger loans with similar risk metrics and facilitate portfolio diversification. The Company was formed as a Delaware limited liability company on April 24, 2013 and commenced operations on August 8, 2013. The Company makes substantially all of its investments and conduct substantially all of its real estate lending business through Terra Property Trust, which has elected to be taxed as a real estate investment trust (&#8220;REIT&#8221;) for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016. The Company&#8217;s objectives are to (i) preserve its members&#8217; capital contributions, (ii) realize income from its investments and (iii) make monthly distributions to its members from cash generated from investments. There can be no assurances that the Company will be successful in meeting its objectives.</font></div><div style="line-height:120%;text-align:justify;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In December 2015, the members approved the merger of Terra Secured Income Fund, LLC (&#8220;Terra Fund 1&#8221;), Terra Secured Income Fund 2, LLC (&#8220;Terra Fund 2&#8221;), Terra Secured Income Fund 3, LLC (&#8220;Terra Fund 3&#8221;) and Terra Secured Income Fund 4, LLC (&#8220;Terra Fund 4&#8221;) with and into subsidiaries of the Company (individually, each a &#8220;Terra Fund&#8221; and collectively, the &#8220;Terra Funds&#8221;) through a series of separate mergers effective January 1, 2016 (collectively, the &#8220;Merger&#8221;). Following the Merger, the Company contributed the consolidated portfolio of net assets of the five Terra Funds to Terra Property Trust, a newly-formed and wholly-owned subsidiary of the Company that elected to be taxed as a REIT, in exchange for the shares of common stock of Terra Property Trust. Upon completion of the Merger, the Company became the parent company of Terra Funds 1 through 4 and the direct and indirect sole common stockholder of, and began conducting substantially all of its real estate lending business through, Terra Property Trust. The Company does not consolidate Terra Property Trust as Terra Property Trust is not an investment company. </font></div><div style="line-height:120%;text-align:justify;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s investment activities were externally managed by Terra Income Advisors, a private investment firm affiliated with the Company until February 8, 2018 when Terra Capital Partners, LLC (&#8220;Terra Capital Partners&#8221;), the Company&#8217;s sponsor, caused a new subsidiary of Terra Capital Partners, Terra Fund Advisors, LLC (&#8220;Terra Fund Advisors&#8221;), to be admitted as the replacement manager of the Company. When used herein the term &#8220;Manager&#8221; refers to Terra Income Advisors for periods prior to February 8, 2018 and refers to Terra Fund Advisors beginning on such date. The Company does not currently have any employees and does not expect to have any employees. Services necessary for the Company&#8217;s business are provided by individuals who are employees of the Manager or its affiliates or by individuals who were contracted by the Company or by the Manager or its affiliates to work on behalf of the Company pursuant to the terms of the operating agreement, as amended.</font></div><div style="line-height:120%;text-align:justify;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company will continue in existence until December 31, 2023; however, the Company expects to be terminated or to consummate an alternative liquidity transaction on or prior to the five-year anniversary of the completion of the Company&#8217;s original offering, which was January 31, 2015, unless extended for up to a maximum of two one-year extensions at the discretion of the Manager, in order to facilitate an orderly liquidation or to consummate such alternative liquidity transaction.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncement</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued Accounting Standards Update (&#8220;ASU&#8221;) 2014-09, Revenue from Contracts with Customers (Topic 606) (&#8220;ASU 2014-09&#8221;). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. The Company adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on its consolidated financial statements and disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued ASU 2016-01, Financial Instruments &#8212; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (&#8220;ASU 2016-01&#8221;). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity&#8217;s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on its consolidated financial statements and disclosures. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (&#8220;ASU 2016-02&#8221;). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on the Company&#8217;s consolidated financial statements and disclosures as the Company does not have any lease arrangements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB&#8217;s Emerging Issues Task Force (&#8220;ASU 2016-15&#8221;). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on its consolidated financial statements and disclosures. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2018, the Securities and Exchange Commission (the &#8220;SEC&#8221;) adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a &#8220;smaller reporting company&#8221; if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on the Company.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework &#8212; Changes to the Disclosure Requirements for Fair Value Measurement (&#8220;ASU 2018-13&#8221;). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements and disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the &#8220;Final Rule&#8221;). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders&#8217; equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November 5, 2018; however, the SEC would not object if a filer&#8217;s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. The Company intends to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on the Company&#8217;s consolidated financial statements and disclosures.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 4. Related Party Transactions</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Axar Transaction</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 8, 2018, Terra Capital Partners caused (i) a new subsidiary of Terra Capital Partners, Terra REIT Advisors to become the external manager of Terra Property Trust, (ii) a new subsidiary of Terra Capital Partners, Terra Fund Advisors, to be admitted as the replacement manager of the Company and the equity interests in Terra Fund Advisors to be distributed to the equity owners of Terra Capital Partners on a pro rata basis and (iii) the equity interests in another subsidiary of Terra Capital Partners, Terra Income Advisors, which also serves as the external advisor to Terra Income Fund 6, Inc. (&#8220;Terra Fund 6&#8221;), to be distributed to the equity owners of Terra Capital Partners on a pro rata basis. After the completion of the above steps, an affiliate of Axar Capital Management L.P. (&#8220;Axar&#8221;) entered into an investment agreement with Terra Capital Partners and its affiliates (which is referred to collectively as the &#8220;Axar Transaction&#8221;), pursuant to which an affiliate of Axar acquired from the respective owners thereof: (i) a 49% economic interest in the Terra Fund Advisors; (ii) a 65.7% economic and voting interest in Terra Capital Partners (and thereby Terra REIT Advisors); and (iii) an initial 49% economic interest in Terra Income Advisors, with an agreement to acquire an additional 16.7% economic interest, and for the entire 65.7% stake to become a voting interest in Terra Income Advisors, subject to requisite approval by a majority of the outstanding voting securities (as defined by the Investment Company Act of 1940, as amended) of Terra Fund 6 of a new advisory and administrative services agreement between Terra Income Advisors and Terra Fund 6 and upon the satisfaction of certain other conditions.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Operating Agreement </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company had an operating agreement, as amended, with Terra Income Advisors whereby Terra Income Advisors was responsible for the Company&#8217;s day-to-day operations. As part of the Axar Transaction, on February 8, 2018, Terra Income Advisors assigned all of its rights, title and interest in the Company pursuant to the Amended and Restated Limited Liability Company Agreement of the Company, dated January 1, 2016, to Terra Fund Advisors. The operating agreement, as amended, is scheduled to terminate on December 31, 2023 unless the Company is dissolved earlier. Starting January 1, 2016, the Company conducts all of its real estate lending business through Terra Property Trust. As such, Terra Property Trust is responsible for management compensation paid and operating expenses reimbursed to its manager pursuant to a management agreement with the manager. </font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Management Agreement</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As part of the Axar Transaction, Terra Income Advisors, Terra Property Trust&#8217;s manager prior to February 8, 2018, assigned all of its rights, title and interest in and to its then current external management agreement with Terra Property Trust to Terra REIT Advisors and immediately thereafter, Terra REIT Advisors and Terra Property Trust amended and restated such management agreement. Such amended and restated management agreement has the same economic terms and is in all material respects otherwise on the same terms as the management agreement between Terra Income Advisors and Terra Property Trust in effect immediately prior to the Axar Transaction, except for the identity of the manager. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Dividend Income</font></div><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;">As discussed in </font><a style="font-family:inherit;font-size:10pt;" href="#s1FBDD835C4B15666B2BDAFF23B93BB53"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">, for the </font><font style="font-family:inherit;font-size:10pt;">three months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company received approximately </font><font style="font-family:inherit;font-size:10pt;">$8.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$13.1 million</font><font style="font-family:inherit;font-size:10pt;"> of distributions from Terra Property Trust, respectively, of which </font><font style="font-family:inherit;font-size:10pt;">$2.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$8.7 million</font><font style="font-family:inherit;font-size:10pt;"> was a return of capital, respectively. For the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company received approximately </font><font style="font-family:inherit;font-size:10pt;">$24.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$29.7 million</font><font style="font-family:inherit;font-size:10pt;"> of distributions from Terra Property Trust, respectively, of which </font><font style="font-family:inherit;font-size:10pt;">$7.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$14.0 million</font><font style="font-family:inherit;font-size:10pt;"> was a return of capital, respectively. </font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Dividend Income: </font><font style="font-family:inherit;font-size:10pt;">Dividend income associated with the Company&#8217;s ownership of Terra Property Trust is recognized on the record date as declared by Terra Property Trust. Any excess of dividends over Terra Property Trust&#8217;s net income are recorded as return of capital. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Operating Income: </font><font style="font-family:inherit;font-size:10pt;">All other income is recognized when earned.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Each membership interest through the original offering was offered for a price of $</font><font style="font-family:inherit;font-size:10pt;">50,000</font><font style="font-family:inherit;font-size:10pt;"> per unit. The membership interests in Terra Funds 1 through 4 were exchanged for units of the Company at a price of $</font><font style="font-family:inherit;font-size:10pt;">43,410</font><font style="font-family:inherit;font-size:10pt;"> per unit, which was the exchange value per unit of the Company on December 31, 2015, and the units in the offering concurrent with the Merger was offered at a price of $</font><font style="font-family:inherit;font-size:10pt;">47,000</font><font style="font-family:inherit;font-size:10pt;"> per unit. The following table provides a roll forward of the units outstanding of the Company for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="19" rowspan="1"></td></tr><tr><td style="width:29%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Managing</font></div><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Member</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Non-Managing Members</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Managing<br clear="none"/>Member</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Non-Managing Members</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Units outstanding, beginning of period</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,826.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,826.5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Early redemption of Continuing </font></div><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;Income Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3.6</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7.9</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Termination Units redeemed</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50.4</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(121.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(121.1</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Units outstanding, end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,643.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,643.4</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,697.5</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the summarized financial&#160;information of Terra Property Trust:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:66%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September&#160;30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December&#160;31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of loans held for investment</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">339,615,579</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">357,093,730</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate owned, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,756,051</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,064,173</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51,899,445</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">437,435,803</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">408,993,175</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage loan payable and obligations under participation agreements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(145,573,187</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(110,175,525</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(23,431,489</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(23,307,944</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(169,004,676</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(133,483,469</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stockholder&#8217;s equity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,431,127</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,509,706</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="17" rowspan="1"></td></tr><tr><td style="width:34%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Three Months Ended September 30,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Nine Months Ended September 30, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">2017</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,788,205</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,651,677</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35,751,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,197,274</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7,300,400</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,598,716</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(17,921,479</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(12,379,894</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Realized gain on investments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(604,169</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(114,209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,487,805</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,448,792</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,829,718</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,703,171</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 2. Summary of Significant Accounting Policies</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation and Principles of Consolidation</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) and include all of the Company&#8217;s accounts and those of its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The accompanying interim financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company is an investment company, as defined under U.S. GAAP, and applies accounting and reporting guidance in accordance with Financial Accounting Standards Board (&#8220;FASB&#8221;) ASC Topic 946, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Services&#160;-&#160;Investment Companies</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of gains (losses), income and expenses during the reporting period. Actual results could significantly differ from those estimates. The most significant estimates inherent in the preparation of the Company&#8217;s consolidated financial statements is the valuation of investments (</font><a style="font-family:inherit;font-size:10pt;" href="#s1FBDD835C4B15666B2BDAFF23B93BB53"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity Investment in Terra Property Trust</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity investment in Terra Property Trust represents the Company&#8217;s equity interest in Terra Property Trust, which was initially recorded at cost. Subsequent to the asset contribution, the equity investment is reported, at each reporting date, at fair value on the consolidated statements of financial condition. Change in fair value is reported in net change in unrealized appreciation or depreciation on investment on the consolidated statements of operations. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Dividend Income: </font><font style="font-family:inherit;font-size:10pt;">Dividend income associated with the Company&#8217;s ownership of Terra Property Trust is recognized on the record date as declared by Terra Property Trust. Any excess of dividends over Terra Property Trust&#8217;s net income are recorded as return of capital. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Operating Income: </font><font style="font-family:inherit;font-size:10pt;">All other income is recognized when earned.</font></div><div style="line-height:120%;text-align:justify;text-indent:28px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Cash and Cash Equivalents</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers all highly liquid investments, with original maturities of ninety days or less when purchased, as cash equivalents.</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents are exposed to concentrations of credit risk. The Company maintains all of its cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation. </font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;font-style:italic;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of the Company&#8217;s taxable income. The Company, however, may be liable for New York City Unincorporated Business Tax (the &#8220;NYC UBT&#8221;) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, none of the Company&#8217;s income was subject to the NYC UBT. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the consolidated financial statements and tax basis assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Such deferred tax assets and liabilities were not material.</font></div><div style="line-height:120%;text-align:justify;text-indent:37px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Income Taxes</font><font style="font-family:inherit;font-size:10pt;">, nor did the Company have any unrecognized tax benefits as of the periods presented herein. The Company recognizes interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in its consolidated statements of operations. For the </font><font style="font-family:inherit;font-size:10pt;">three and nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">, the Company did not incur any interest or penalties. Although the Company files federal and state tax returns, its primary tax jurisdiction is federal. The Company&#8217;s inception-to-date federal tax years remain subject to examination by the Internal Revenue Service. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncement</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued Accounting Standards Update (&#8220;ASU&#8221;) 2014-09, Revenue from Contracts with Customers (Topic 606) (&#8220;ASU 2014-09&#8221;). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. The Company adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on its consolidated financial statements and disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued ASU 2016-01, Financial Instruments &#8212; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (&#8220;ASU 2016-01&#8221;). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity&#8217;s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on its consolidated financial statements and disclosures. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (&#8220;ASU 2016-02&#8221;). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on the Company&#8217;s consolidated financial statements and disclosures as the Company does not have any lease arrangements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB&#8217;s Emerging Issues Task Force (&#8220;ASU 2016-15&#8221;). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on its consolidated financial statements and disclosures. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2018, the Securities and Exchange Commission (the &#8220;SEC&#8221;) adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a &#8220;smaller reporting company&#8221; if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on the Company.</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework &#8212; Changes to the Disclosure Requirements for Fair Value Measurement (&#8220;ASU 2018-13&#8221;). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements and disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the &#8220;Final Rule&#8221;). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders&#8217; equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November 5, 2018; however, the SEC would not object if a filer&#8217;s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. The Company intends to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on the Company&#8217;s consolidated financial statements and disclosures.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Note 9. Subsequent Events</font></div><div style="line-height:120%;text-align:justify;padding-left:10px;text-indent:-10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management has evaluated subsequent events through the date the consolidated financial statements were available to be issued. Management has determined that there are no material events that would require adjustment to, or disclosure in, the Company&#8217;s consolidated financial statements.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of the Company&#8217;s investment at </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="23" rowspan="1"></td></tr><tr><td style="width:26%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">September 30, 2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">December 31, 2017</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Investment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">% of Members&#8217; Capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Fair Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">% of Members&#8217; Capital</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,912,990 common shares </font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;of Terra Property Trust, Inc.</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,335,112</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268,006,493</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,401,972</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,428,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100.0</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">%</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of gains (losses), income and expenses during the reporting period. Actual results could significantly differ from those estimates. The most significant estimates inherent in the preparation of the Company&#8217;s consolidated financial statements is the valuation of investments (</font><a style="font-family:inherit;font-size:10pt;" href="#s1FBDD835C4B15666B2BDAFF23B93BB53"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></div> Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities. Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors, LLC (“Terra Income Advisors”), an affiliate of our sponsor and Terra Property Trust’s manager. Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra REIT Advisors. The loan participations from Terra Property Trust do not qualify for sale accounting under Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition. Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra Income Advisors. This loan was repaid on October 17, 2018. On September 29, 2017, Terra Property Trust entered into agreement with the borrower to provide funding commitment of up to $8.7 million. As of December 31, 2017, $0.4 million has been funded. Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement. This loan was repaid on January 17, 2018. This loan was repaid on January 26, 2018. Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date. Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by Terra REIT Advisors. Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra REIT Advisors. The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were 6,670 units and 6,801 units for the nine months ended September 30, 2018 and 2017, respectively. On June 27, 2018, Terra Property Trust entered into a participation agreement with Terra Income Fund 6, Inc. to purchase a 25% interest, or $4.3 million, in a mezzanine loan. As of September 30, 2018, none of the commitment has been funded. Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors. Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra REIT Advisors, LLC (“Terra REIT Advisors”), Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy. Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by a subsidiary of Terra Income Advisors. Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $275.4 million as of December 31, 2017. Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement. Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra Income Advisors, Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy. Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra Income Advisors. Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $268.0 million as of September 30, 2018. In addition to its net loan portfolio, on July 30, 2018, Terra Property Trust foreclosed on a multi-tenant office building encumbering a $54.0 million first mortgage in exchange for the relief of the first mortgage and related fees and expenses. As of September 30, 2018, the office building had a carrying value of $56.8 million and the mortgage loan payable encumbering the office building was $44.8 million for a net carrying value of approximately $12.0 million. The per unit data for distributions reflects the actual amount of distributions paid per share during the periods. The loan participations from Terra Property Trust do not qualify for sale accounting under ASC Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition. EX-101.SCH 6 tsif-20180930.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2101100 - Disclosure - Business link:presentationLink link:calculationLink link:definitionLink 2401402 - Disclosure - Business (Details) link:presentationLink link:calculationLink link:definitionLink 2126100 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 2426402 - Disclosure - Commitments and Contingencies (Details) link:presentationLink link:calculationLink link:definitionLink 2326301 - Disclosure - Commitments and Contingencies (Tables) link:presentationLink link:calculationLink link:definitionLink 1008000 - Statement - Consolidated Scheules of Investments Statement link:presentationLink link:calculationLink link:definitionLink 1006000 - Statement - Consolidated Statements of Cash Flows link:presentationLink link:calculationLink link:definitionLink 1004000 - Statement - Consolidated Statements of Changes in Members' Capital link:presentationLink link:calculationLink link:definitionLink 1004501 - Statement - Consolidated Statements of Changes in Members' Capital (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 1001000 - Statement - Consolidated Statements of Financial Condition link:presentationLink link:calculationLink link:definitionLink 1001501 - Statement - Consolidated Statements of Financial Condition (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 1003000 - Statement - Consolidated Statements of Operations link:presentationLink link:calculationLink link:definitionLink 0001000 - Document - Document Entity Information Document link:presentationLink link:calculationLink link:definitionLink 2129100 - Disclosure - Financial Highlights link:presentationLink link:calculationLink link:definitionLink 2429402 - Disclosure - Financial Highlights (Details) link:presentationLink link:calculationLink link:definitionLink 2329301 - Disclosure - Financial Highlights (Tables) link:presentationLink link:calculationLink link:definitionLink 2119100 - Disclosure - Investment and Fair Value link:presentationLink link:calculationLink link:definitionLink 2419406 - Disclosure - Investment and Fair Value (Equity Investment at Fair Value on a recurring basis) (Details) link:presentationLink link:calculationLink link:definitionLink 2419402 - Disclosure - Investment and Fair Value (Narratives) (Details) link:presentationLink link:calculationLink link:definitionLink 2419405 - Disclosure - Investment and Fair Value (Summary of Financial Information 2) (Details) link:presentationLink link:calculationLink link:definitionLink 2419404 - Disclosure - Investment and Fair Value (Summary of Financial Information of Terra Property Trust) (Details) link:presentationLink link:calculationLink link:definitionLink 2419403 - Disclosure - Investment and Fair Value (Summary of the Investments) (Details) link:presentationLink link:calculationLink link:definitionLink 2319301 - Disclosure - Investment and Fair Value (Tables) link:presentationLink link:calculationLink link:definitionLink 2419408 - Disclosure - Investment and Fair Value (Valuation techniques and significant unobservable inputs) (Details) link:presentationLink link:calculationLink link:definitionLink 2419407 - Disclosure - Investments and Fair Value (Changes in Level 3) (Details) link:presentationLink link:calculationLink link:definitionLink 2127100 - Disclosure - Members' Capital link:presentationLink link:calculationLink link:definitionLink 2427402 - Disclosure - Members' Capital (Details) link:presentationLink link:calculationLink link:definitionLink 2427404 - Disclosure - Members' Capital Members' Capital (Members' Units Outstanding) (Details) link:presentationLink link:calculationLink link:definitionLink 2427403 - Disclosure - Members' Capital Members' Capital (Narratives) (Details) link:presentationLink link:calculationLink link:definitionLink 2327301 - Disclosure - Members' Capital (Tables) link:presentationLink link:calculationLink link:definitionLink 2122100 - Disclosure - Related Party Transactions link:presentationLink link:calculationLink link:definitionLink 2422402 - Disclosure - Related Party Transactions (Details) link:presentationLink link:calculationLink link:definitionLink 2322301 - Disclosure - Related Party Transactions (Tables) link:presentationLink link:calculationLink link:definitionLink 2125100 - Disclosure - Significant Risk Factors link:presentationLink link:calculationLink link:definitionLink 2425402 - Disclosure - Significant Risk Factors (Details) link:presentationLink link:calculationLink link:definitionLink 2325301 - Disclosure - Significant Risk Factors (Tables) link:presentationLink link:calculationLink link:definitionLink 2130100 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 2330301 - Disclosure - Subsequent Events (Tables) link:presentationLink link:calculationLink link:definitionLink 2104100 - Disclosure - Summary of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 2404403 - Disclosure - Summary of Significant Accounting Policies (Details) link:presentationLink link:calculationLink link:definitionLink 2204201 - Disclosure - Summary of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 2304302 - Disclosure - Summary of Significant Accounting Policies (Tables) link:presentationLink link:calculationLink link:definitionLink 2301301 - Disclosure - (Tables) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 7 tsif-20180930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 8 tsif-20180930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 9 tsif-20180930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Accounting Policies [Abstract] Summary of Significant Accounting Policies Significant Accounting Policies [Text Block] Investment Company, Financial Highlights [Abstract] Investment Company, Financial Highlights [Table] Investment Company, Financial Highlights [Table] Capital Units by Class [Axis] Capital Units by Class [Axis] Capital Unit, Class [Domain] Capital Unit, Class [Domain] Non-managing Member Class Non-managing Member Class [Member] Non-managing Member Class [Member] Financial Highlights Investment Company, Financial Highlights [Line Items] Investment Company, Financial Highlights [Roll Forward] Investment Company, Financial Highlights [Roll Forward] Net asset value per unit Net Asset Value Per Share Increase in members’ capital from operations (1): Investment Company, Investment Income (Loss) from Operations, Per Share [Abstract] Net investment income Investment Company, Investment Income (Loss), Per Share Net change in unrealized (depreciation) appreciation on investment Investment Company, Gain (Loss) on Investment, Per Share Total increase in members’ capital from operations Investment Company, Investment Income (Loss) from Operations, Per Share Distributions to member (2): Investment Company Distribution [Abstract] Investment Company Distribution [Abstract] Capital distributions Investment Company, Distribution to Shareholders, Per Share Net decrease in members’ capital resulting from distributions Increase Decrease In Members Capital Resulting From Distributions Per Share Increase Decrease In Members Capital Resulting From Distributions Capital share transactions: Capital Share transactions [Abstract] Capital Share transactions [Abstract] Other (3) Capital Share Transactions Other Per Shares Capital Share Transactions Other Per Shares Net increase in members’ capital resulting from capital share transactions Increase Decrease in Members Capital Resulting From Capital Share Transactions Per Share Increase Decrease in Members Capital Resulting From Capital Share Transactions Per Share Net asset value per unit Ratios to average net assets: Investment Company, Financial Ratios [Abstract] Expenses Investment Company, Expense Ratio Including Incentive Fee Net investment income Investment Company, Investment Income (Loss) Ratio Internal Rate of Return since Inception Investment Company, Internal Rate of Return since Inception Weighted Average Membership Units Outstanding Weighted Average Membership Units Outstanding Weighted Average Membership Units Outstanding Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies Disclosure [Text Block] Members capital [Abstract] Members capital [Abstract] Investments [Abstract] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table] Fair Value, Hierarchy [Axis] Fair Value, Hierarchy [Axis] Fair Value Hierarchy [Domain] Fair Value Hierarchy [Domain] Level 3 Fair Value, Inputs, Level 3 [Member] Range [Axis] Range [Axis] Range [Domain] Range [Domain] Minimum Minimum [Member] Maximum Maximum [Member] Weighted Average Weighted Average [Member] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] Fair Value Investment Owned, at Fair Value Primary Valuation Techniques Fair Value Measurements, Valuation Techniques Discount rate Fair Value Inputs, Discount Rate Investment [Abstract] Investment [Abstract] Schedule of Related Party Transactions, by Related Party [Table] Schedule of Related Party Transactions, by Related Party [Table] Consolidated Entities [Axis] Consolidated Entities [Axis] Consolidated Entities [Domain] Consolidated Entities [Domain] Terra Property Trust Terra Property Trust [Member] Terra Property Trust. Investment [Axis] Investment [Axis] Investment [Domain] Investment [Domain] Controlled Controlled [Member] Controlled [Member] Shareholders' Equity Class [Axis] Shareholders' Equity Class [Axis] Fair Value by Shareholders' Equity Class [Domain] Fair Value by Shareholders' Equity Class [Domain] Rights Offering Rights Offering [Member] Rights Offering [Member] Investments Related Party Transaction [Line Items] Proceeds from Equity Method Investment, Distribution Proceeds from Equity Method Investment, Distribution Common Stock, Shares, Outstanding Common Stock, Shares, Outstanding Cost Investment Owned, at Cost % of Members Capital Investment Owned, Percent of Net Assets Investment [Table] Investment [Table] Investment Investment [Line Items] Return of capital on investment Proceeds from Equity Method Investment, Distribution, Return of Capital Carrying value of investments Equity Method Investment, Summarized Financial Information, Noncurrent Assets Real estate owned, net Other Real Estate, Foreclosed Assets, and Repossessed Assets Other assets Equity Method Investment, Summarized Financial Information, Current Assets Total assets Equity Method Investment, Summarized Financial Information, Assets Mortgage loan payable and obligations under participation agreements Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities Accounts payable, accrued expenses and other liabilities Equity Method Investment, Summarized Financial Information, Current Liabilities Total liabilities Equity Method Investment, Summarized Financial Information, Liabilities Stockholder’s equity Equity Method Investment Summarized Financial Information, Equity Related Party Transactions [Abstract] Related Party [Axis] Related Party [Axis] Related Party [Domain] Related Party [Domain] Terra Fund Advisors Terra Fund Advisors [Member] Terra Fund Advisors [Member] Terra Capital Partners Terra Capital Partners [Member] Terra Capital Partners [Member] Terra REIT Advisors Terra REIT Advisors [Member] Terra REIT Advisors [Member] Terra Income Advisors Terra Income Advisors [Member] Terra Income Advisors [Member] Related Party Transaction [Axis] Related Party Transaction [Axis] Related Party Transaction [Domain] Related Party Transaction [Domain] Initial Acquisition Initial Acquisition [Member] Initial Acquisition [Member] Additional Acquisition Additional Acquisition [Member] Additional Acquisition [Member] Total Total [Member] Total [Member] Proceeds from Equity Method Investment, Distribution, Return of Capital Ownership Interest Sale of Stock, Percentage of Ownership after Transaction LLC exit date Limited Liability Company or Limited Partnership, Business, Cessation Date Limited Liability Company (LLC) Members' Equity [Abstract] Schedule of Capital Units [Table] Schedule of Capital Units [Table] Non-managing Member Non-managing Member [Member] Non-managing Member [Member] Members Components [Axis] Partner Capital Components [Axis] Members Components [Domain] Partner Capital Components [Domain] Non-managing Members Non-managing Members [Member] Non-managing Members [Member] Managing Member Managing Member [Member] Managing Member [Member] Initial Offering Initial Offering [Member] Initial Offering [Member] Managing Member or General Partner [Axis] Managing Member or General Partner [Axis] Incentive Distribution, Recipient [Domain] Incentive Distribution, Recipient [Domain] Distribution Type [Axis] Distribution Type [Axis] Distribution Type [Domain] Distribution Type [Domain] Continuing Income Units Holder Continuing Income Units Holder [Member] Continuing Income Units Holder [Member] Termination Units Holder Termination Units Holder [Member] Termination Units Holder [Member] Manager Manager Or Limited Partner [Member] Manager Or Limited Partner. Members Capital Capital Unit [Line Items] Cash Reserve For Member Units Repurchase Cash Reserve For Member Units Repurchase Cash Reserve For Member Units Repurchase Common Unit, Outstanding Net Asset Value Per Share Member units redemption Limited Liability Company Member Units Redeemed Limited Liability Company Member Units Redeemed Percent of distribution made to members depends on the historical preferred return applicale to Terra Fund units DistributionMadeToLimitedLiabilityCompanyLLCMemberDistributionsDeclaredPercent Percentage of ownership amount of cash distributions declared to unit-holder of a limited liability company (LLC). Distribution Percent Incentive Distribution Distribution Percent Percent of incentive dividend declared and paid to managing member or general partner. Capital distributions Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Declared Redemption value Payments for Repurchase of Private Placement Percent Of Cash Repurchase Capital Units Percent Of Cash Repurchase Capital Units Percent Of Cash Repurchase Capital Units Shares Issued, Price Per Share Shares Issued, Price Per Share Statement [Table] Statement [Table] Scenario [Axis] Scenario [Axis] Scenario, Unspecified [Domain] Scenario, Unspecified [Domain] Report Date [Axis] Report Date [Axis] Financial Statement Filing Date [Domain] Financial Statement Filing Date [Domain] Equity Components [Axis] Equity Components [Axis] Equity Component [Domain] Equity Component [Domain] Class of Stock [Axis] Class of Stock [Axis] Class of Stock [Domain] Class of Stock [Domain] Adjustments for New Accounting Pronouncements [Axis] Adjustments for New Accounting Pronouncements [Axis] Type of Adoption [Domain] Type of Adoption [Domain] Adjustments for Change in Accounting Principle [Axis] Adjustments for Change in Accounting Principle [Axis] Adjustments for Change in Accounting Principle [Domain] Adjustments for Change in Accounting Principle [Domain] Adjustments for Error Corrections [Axis] Adjustments for Error Corrections [Axis] Adjustments for Error Correction [Domain] Adjustments for Error Correction [Domain] Statement Statement [Line Items] Limited Liability Companies LLCs [Abstract] Limited Liability Companies LLCs [Abstract] Business Nature of Operations [Text Block] Members' Capital Members' Equity Notes Disclosure [Text Block] Investments, All Other Investments [Abstract] Financial Instruments Disclosure [Text Block] Financial Instruments Disclosure [Text Block] Document And Entity Information [Abstract] Document And Entity Information [Abstract] Entity Registrant Name Entity Registrant Name Entity Central Index Key Entity Central Index Key Current Fiscal Year End Date Current Fiscal Year End Date Document Type Document Type Document Period End Date Document Period End Date Document Fiscal Year Focus Document Fiscal Year Focus Document Fiscal Period Focus Document Fiscal Period Focus Amendment Flag Amendment Flag Entity Filer Category Entity Filer Category Entity Common Stock, Shares Outstanding Entity Common Stock, Shares Outstanding Entity Current Reporting Status Entity Current Reporting Status Entity Public Float Entity Public Float Income Statement [Abstract] Investment income - controlled Investment Income Controlled [Abstract] Investment Income Controlled [Abstract] Dividend income Investment Income, Dividend Investment income Investment Income, Net [Abstract] Other operating income Other Operating Income Total investment income Gross Investment Income, Operating Operating expenses Operating Expenses [Abstract] Professional fees Professional Fees Other Other Cost and Expense, Operating Total operating expenses Operating Costs and Expenses Net investment income Investment Income, Net Net change in unrealized (depreciation) appreciation on investment — controlled Unrealized Gain (Loss) on Investments Net increase in members’ capital resulting from operations Net Income Attributable To Limited Liability Company Members Net Income Attributable To Limited Liability Company Members Schedule of Investments [Abstract] Schedule of Investments [Table] Schedule of Investments [Table] Balance Sheet Location [Axis] Balance Sheet Location [Axis] Balance Sheet Location [Domain] Balance Sheet Location [Domain] Obligations Under Participation Agreements Obligations Under Participation Agreements [Member] Obligations Under Participation Agreements [Member] Investment Net Investment Net [Member] Investment Net [Member] Non-controlled Non-controlled [Member] Non-controlled [Member] Business Combination, Separately Recognized Transactions [Axis] Business Combination, Separately Recognized Transactions [Axis] Business Combination, Separately Recognized Transactions [Domain] Business Combination, Separately Recognized Transactions [Domain] Subsequent Acquisition Subsequent Acquisition [Member] Subsequent Acquisition [Member] Asset Class [Axis] Asset Class [Axis] Asset Class [Domain] Asset Class [Domain] Participation Interests Retained Interest [Member] Investment Type [Axis] Investment Type [Axis] Investments [Domain] Investments [Domain] Mezzanine Loan Mezzanine Loan [Member] Mezzanine Loan [Member] Preferred Equity Investment Preferred Equity Investment [Member] Preferred Equity Investment [Member] First Mortgage First Mortgage [Member] Revolving Credit Facility Revolving Credit Facility [Member] Real Estate Real Estate [Member] 150 Blackstone River Road, LLC 150 Blackstone River Road, LLC [Member] 150 Blackstone River Road, LLC 140 Schermerhorn Street Mezz LLC 140 Schermerhorn Street Mezz LLC [Member] 140 Schermerhorn Street Mezz LLC [Member] 221 W 17th Street Owner LLC 221 W 17th Street Owner LLC [Member] 221 W 17th Street Owner LLC [Member] 2539 Morse, LLC 2539 Morse LLC [Member] 2539 Morse LLC [Member] 37 Gables Member LLC 37 Gables Member LLC [Member] 37 Gables Member LLC [Member] 575 CAD I LLC 575 CAD I LLC [Member] 575 CAD I LLC [Member] Austin H. I. Owner LLC Austin H. I. Owner LLC [Member] Austin H. I. Owner LLC [Member] CGI 1100 Biscayne Management Holdco, LLC CGI 1100 Biscayne Management Holdco LLC [Member] CGI 1100 Biscayne Management Holdco LLC [Member] High Pointe Mezzanine Investments, LLC High Pointe Mezzanine Investments,, LLC [Member] High Pointe Mezzanine Investments,, LLC [Member] Kingsport 925-Mezz LLC Kingsport 925-Mezz LLC [Member] Kingsport 925-Mezz LLC [Member] KOP Hotel XXXI Mezz LP KOP Hotel XXXI Mezz LP [Member] KOP Hotel XXXI Mezz LP [Member] LD Milipitas Mezz, LLC LD Milipitas Mezz, LLC [Member] LD Milipitas Mezz, LLC [Member] Northland Museo Member, LLC Northland Museo Member, LLC [Member] Northland Museo Member, LLC [Member] SparQ Mezz Borrower, LLC SparQ Mezz Borrower, LLC [Member] SparQ Mezz Borrower, LLC Stonewall Station Mezz LLC Stonewall Station Mezz LLC [Member] Stonewall Station Mezz LLC [Member] WWML96MEZZ, LLC WWML96MEZZ, LLC [Member] WWML96MEZZ, LLC [Member] ASA Mgt Holdings LLC ASA Mgt Holdings LLC [Member] ASA Mgt Holdings LLC [Member] City Gardens 333 LLC City Gardens 333 LLC [Member] City Gardens 333 LLC [Member] Greystone Gables Holdings Member LLC Greystone Gables Holdings Member LLC [Member] Greystone Gables Holdings Member LLC [Member] L.A. Warner Hotel Partners, LLC L.A. Warner Hotel Partners, LLC [Member] L.A. Warner Hotel Partners, LLC [Member] NB Private Capital LLC NB Private Capital LLC [Member] NB Private Capital LLC [Member] Nelson Brothers Professional Real Estate, LLC Nelson Brothers Professional Real Estate, LLC [Member] Nelson Brothers Professional Real Estate, LLC [Member] Orange Grove Property Investors LLC Orange Grove Property Investors LLC [Member] Orange Grove Property Investors LLC [Member] REEC Harlem Holdings Company LLC REEC Harlem Holdings Company LLC [Member] REEC Harlem Holdings Company LLC [Member] RS JZ Driggs, LLC RS JZ Driggs, LLC [Member] RS JZ Driggs, LLC [Member] SVA Mgt Holdings LLC SVA Mgt Holdings LLC [Member] SVA Mgt Holdings LLC [Member] The Bristol at Southport, LLC The Bristol at Southport, LLC [Member] The Bristol at Southport, LLC Windy Hill PV Seven CM LLC Windy Hill PV Seven CM LLC [Member] Windy Hill PV Seven CM LLC [Member] WWML96, LLC WWML96, LLC [Member] WWML96, LLC [Member] Millennium Waterfront Associates, L.P. Millennium Waterfront Associates, L.P. [Member] Millennium Waterfront Associates, L.P. [Member] OHM Atlanta Owner, LLC OHM Atlanta Owner, LLC [Member] OHM Atlanta Owner, LLC [Member] TSG-Parcel 1, LLC TSG-Parcel 1, LLC [Member] TSG-Parcel 1, LLC [Member] AHF-Heritage 1, LLC AHF-Heritage 1, LLC [Member] AHF-Heritage 1, LLC [Member] Palmer City-Core Stockton Street, LLC Palmer City-Core Stockton Street, LLC [Member] Palmer City-Core Stockton Street, LLC [Member] Maguire Partners-1733 Ocean, LLC Maguire Partners-1733 Ocean, LLC [Member] Maguire Partners-1733 Ocean, LLC [Member] BPG Office Partners III/IV LLC BPG Office Partners III/IV LLC [Member] BPG Office Partners III/IV LLC [Member] RS JZ 2700 NW2, LLC RS JZ 2700 NW2, LLC [Member] RS JZ 2700 NW2, LLC [Member] YMP Georgia Portfolio Mezzanine, LLC YMP Georgia Portfolio Mezzanine, LLC [Member] YMP Georgia Portfolio Mezzanine, LLC [Member] Muncie Mezz, LLC Muncie Mezz, LLC [Member] Muncie Mezz, LLC [Member] Milestone Greensboro Holdings, LLC Milestone Greensboro Holdings, LLC [Member] Milestone Greensboro Holdings, LLC [Member] Cape Church Mezz, LLC Cape Church Mezz, LLC [Member] Cape Church Mezz, LLC [Member] Pollin Hotels PDX Mezzanine, LLC Pollin Hotels PDX Mezzanine, LLC [Member] Pollin Hotels PDX Mezzanine, LLC [Member] NB Factory JV, LLC NB Factory JV, LLC [Member] NB Factory JV, LLC [Member] Investment Geographic Region [Axis] Investment Geographic Region [Axis] Investment Geographic Region [Domain] Investment Geographic Region [Domain] US UNITED STATES Investment Geographic State [Axis] Investment Geographic State [Axis] Investment Geographic State [Axis] Investment Geographic State [Domain] Investment Geographic State [Domain] [Domain] for Investment Geographic State [Axis] AL ALABAMA CA CALIFORNIA GA GEORGIA DE DELAWARE FL FLORIDA IL ILLINOIS IN INDIANA MA MASSACHUSETTS NC NORTH CAROLINA NY NEW YORK OH OHIO OR OREGON PA PENNSYLVANIA SC SOUTH CAROLINA TN TENNESSEE TX TEXAS UT UTAH WA WASHINGTON Other States Other States [Member] Other States [Member] Real Estate, Type of Property [Axis] Real Estate, Type of Property [Axis] Real Estate [Domain] Real Estate [Domain] Multifamily Multifamily [Member] Hotel Hotel [Member] Other Real Estate Type Other Real Estate Type [Member] Other Real Estate Type [Member] Student Housing Student Housing [Member] Student Housing [Member] Industrial Industrial [Member] Industrial Office Building Office Building [Member] Land Land [Member] Condominium Condominium [Member] Condominium [Member] Investment Interest Rate Type [Axis] Investment Interest Rate Type [Axis] Description of the interest rate as being fixed, variable, stepped, etc. Investment Interest Rate Type [Domain] Investment Interest Rate Type [Domain] [Domain] for Description of the interest rate as being fixed, variable, stepped, etc. Current Current Rate [Member] Current Rate [Member] PIK Payments In Kind Rate [Member] Payments In Kind Rate [Member] Variable Rate [Axis] Variable Rate [Axis] Variable Rate [Domain] Variable Rate [Domain] LIBOR London Interbank Offered Rate (LIBOR) [Member] Schedule of Investments Schedule of Investments [Line Items] Equity Method Investment, Ownership Percentage Equity Method Investment, Ownership Percentage Interest Rate Mortgage Loans on Real Estate, Interest Rate Loans Receivable, Description of Variable Rate Basis Loans Receivable, Description of Variable Rate Basis Loans Receivable, Basis Spread on Variable Rate Loans Receivable, Basis Spread on Variable Rate LIBOR Floor Derivative, Floor Interest Rate Current rate Investment Interest Rate Deferred rate Deferred Interest Rate The deferred interest rate for investments that have an interest rate. Exit Fee End of Term Payment Percentage of end of term payment Acquisition Date Investment Owned, Restricted, Acquisition Date Maturity Date Investment Maturity Date Principal Amount Investment Owned, Balance, Principal Amount Allowance for loan losses Loans and Leases Receivable, Allowance Total Commitment Other Commitment Ownership Interest Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest First mortgage Loans Receivable, Gross, Commercial, Mortgage Real estate Mortgage loan payable Mortgage Loans on Real Estate Net real estate investment Real Estate Investment Property, Net Related Party Transactions Disclosure [Text Block] Related Party Transactions Disclosure [Text Block] Financial Highlights Investment Company, Financial Highlights [Table Text Block] Financial Highlights Investment Company, Financial Highlights [Text Block] Managing Member Managing Members [Member] Managing Members [Member] Non-managing Members Changes in Members' Capital [Roll Forward] Increase (Decrease) in Partners' Capital [Roll Forward] Balance, beginning of period Members' Capital Capital distributions Capital redemptions Stock Repurchased During Period, Value Increase in members’ capital resulting from operations: Increase Decrease In Members' Capital Resulting From Operations [Abstract] Increase Decrease In Members' Capital Resulting From Operations [Abstract] Net change in unrealized depreciation or appreciation on investment Net increase in members’ capital resulting from operations Balance, end of period Summary Investment Holdings Summary Investment Holdings [Table Text Block] Summary of financial information Condensed Financial Statements [Table Text Block] Summary of Company's equity investment at fair value on a recurring basis Fair Value, Assets Measured on Recurring Basis [Table Text Block] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] Statement of Financial Position [Abstract] Assets Assets [Abstract] Equity investment in Terra Property Trust, Inc. at fair value — controlled (cost of $268,335,112 and $275,401,972, respectively) Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value Other assets Other Assets Total assets Assets, Fair Value Disclosure Liabilities and Members' Capital Liabilities and Equity [Abstract] Liabilities Liabilities [Abstract] Accounts payable and accrued expenses Accounts Payable and Other Accrued Liabilities Total liabilities Liabilities Commitments and Contingencies Commitments and Contingencies Members' capital: Members' Equity [Abstract] Managing member Members capital attributable to managing member Amount of member capital in limited liability company (LLC) attributable to managing member. Non-managing members Members capital attributable to non-managing members Amount of member capital in limited liability company (LLC) attributable to non-managing members. Total members’ capital Total liabilities and members' capital Liabilities and Equity Investments And Fair Value Measurements [Text Block] Investments And Fair Value Measurements [Text Block] Investments And Fair Value Measurements [Text Block] Investment Owned, at Cost Revenues Equity Method Investment, Summarized Financial Information, Revenue Expenses Equity Method Investment Summarized Financial Information Expenses Equity Method Investment Summarized Financial Information Expenses Loss on sale of investments Gain (Loss) on Sale of Investments Net income Equity Method Investment, Summarized Financial Information, Net Income (Loss) Schedule of Subsidiary of Limited Liability Company or Limited Partnership [Table] Schedule of Subsidiary of Limited Liability Company or Limited Partnership [Table] Consolidation Items [Axis] Consolidation Items [Axis] Consolidation Items [Domain] Consolidation Items [Domain] Subsidiary of Limited Liability Company or Limited Partnership [Line Items] Subsidiary of Limited Liability Company or Limited Partnership [Line Items] Operation date Operations Commenced Date LLC formation state Limited Liability Company or Limited Partnership, Business, Formation State Investment in real estate loans Number of investment funds Number Of Investment Funds Number Of Investment Funds Number of extension Number Of Extension Number Of Extension Units outstanding, beginning of period Member units redemption Units outstanding, end of period Member Capital Termination Units Outstanding Member Capital Termination Units Outstanding [Table Text Block] Member Capital Termination Units Outstanding [Table Text Block] Schedule of Capital Units Schedule of Capital Units [Table Text Block] Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value Measurements, Recurring and Nonrecurring [Table] Level 1 Fair Value, Inputs, Level 1 [Member] Level 2 Fair Value, Inputs, Level 2 [Member] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Statement of Cash Flows [Abstract] Net increase in members’ capital resulting from operations Adjustments to reconcile net increase in members’ capital resulting from operations to net cash provided by operating activities: Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Net change in unrealized depreciation (appreciation) on investment Changes in operating assets and liabilities: Increase (Decrease) in Operating Capital [Abstract] (Increase) decrease in other assets Increase (Decrease) in Other Operating Assets Increase (decrease) in accounts payable and accrued expenses Increase (Decrease) in Accounts Payable and Accrued Liabilities Decrease in due to Terra Property Trust, Inc. Increase (Decrease) in Due to Affiliates Net cash provided by operating activities Net Cash Provided by (Used in) Operating Activities Cash flows from financing activities: Net Cash Provided by (Used in) Financing Activities [Abstract] Distributions paid Distribution Made to Limited Liability Company (LLC) Member, Cash Distributions Paid Payments for capital redemptions Net cash used in financing activities Net Cash Provided by (Used in) Financing Activities Net (decrease) increase in cash and cash equivalents Cash and Cash Equivalents, Period Increase (Decrease) Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Disclosure of Cash Flows Information: Supplemental Cash Flow Information [Abstract] Cash paid for income taxes Income Taxes Paid Cash paid for interest Interest Paid Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table] Assets Measured on Recurring Basis, Unobservable Input Reconciliation Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] Beginning balance Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value Return of capital Ending balance Net Change in unrealized (depreciation) appreciation on investment Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings Fair Value, Level 3 Transfers in, Description Fair Value, Level 3 Transfers in, Description Fair Value, Level 3 Transfers out, Description Fair Value, Level 3 Transfers out, Description Basis of Presentation and Principles of Consolidation Basis of Accounting, Policy [Policy Text Block] Use of Estimates Use of Estimates, Policy [Policy Text Block] Equity Investment Equity Method Investments [Policy Text Block] Revenue Recognition Revenue Recognition, Policy [Policy Text Block] Cash and Cash Equivalents Cash and Cash Equivalents, Policy [Policy Text Block] Income Taxes Income Tax, Policy [Policy Text Block] Fair Value Measurement Fair Value Measurement, Policy [Policy Text Block] New Accounting Pronouncements New Accounting Pronouncements, Policy [Policy Text Block] Subsequent Events [Abstract] Subsequent Events [Text Block] Subsequent Events [Text Block] EX-101.PRE 10 tsif-20180930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 11 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document Entity Information Document - USD ($)
 9 Months Ended
Sep. 30, 2018
Nov. 09, 2018
Jun. 30, 2018
Document And Entity Information [Abstract]      
Entity Registrant Name Terra Secured Income Fund 5, LLC    
Entity Central Index Key 0001581874    
Current Fiscal Year End Date --12-31    
Document Type 10-Q    
Document Period End Date Sep. 30, 2018    
Document Fiscal Year Focus 2018    
Document Fiscal Period Focus Q3    
Amendment Flag false    
Entity Filer Category Smaller Reporting Company    
Entity Common Stock, Shares Outstanding   6,643.4  
Entity Current Reporting Status Yes    
Entity Public Float     $ 0
XML 12 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Financial Condition - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Assets    
Equity investment in Terra Property Trust, Inc. at fair value — controlled (cost of $268,335,112 and $275,401,972, respectively) $ 268,006,493 $ 275,428,953
Cash and cash equivalents 130,899 212,366
Other assets 20,551 3,864
Total assets 268,157,943 275,645,183
Liabilities    
Accounts payable and accrued expenses 165,048 95,728
Total liabilities 165,048 95,728
Commitments and Contingencies
Members' capital:    
Managing member 0 0
Non-managing members 267,992,895 275,549,455
Total members’ capital 267,992,895 275,549,455
Total liabilities and members' capital $ 268,157,943 $ 275,645,183
XML 13 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Financial Condition (Parentheticals) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Statement of Financial Position [Abstract]    
Investment Owned, at Cost $ 268,335,112 $ 275,401,972
XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Investment income - controlled        
Dividend income $ 5,487,805 $ 4,448,792 $ 17,829,718 $ 15,703,171
Investment income        
Other operating income 137 111 1,140 1,064
Total investment income 5,487,942 4,448,903 17,830,858 15,704,235
Operating expenses        
Professional fees 126,966 104,100 334,802 431,465
Other 2,891 3,448 10,832 35,761
Total operating expenses 129,857 107,548 345,634 467,226
Net investment income 5,358,085 4,341,355 17,485,224 15,237,009
Net change in unrealized (depreciation) appreciation on investment — controlled (179,846) 428,032 (355,600) 920,026
Net increase in members’ capital resulting from operations $ 5,178,239 $ 4,769,387 $ 17,129,624 $ 16,157,035
XML 15 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Changes in Members' Capital - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Changes in Members' Capital [Roll Forward]        
Balance, beginning of period     $ 275,549,455 $ 289,586,404
Capital distributions     (22,497,394) (23,127,464)
Capital redemptions     (2,188,790) (5,303,174)
Increase in members’ capital resulting from operations:        
Net investment income $ 5,358,085 $ 4,341,355 17,485,224 15,237,009
Net change in unrealized depreciation or appreciation on investment (179,846) 428,032 (355,600) 920,026
Net increase in members’ capital resulting from operations 5,178,239 4,769,387 17,129,624 16,157,035
Balance, end of period 267,992,895 277,312,801 267,992,895 277,312,801
Managing Member        
Changes in Members' Capital [Roll Forward]        
Balance, beginning of period     0 0
Capital distributions     0 0
Capital redemptions     0 0
Increase in members’ capital resulting from operations:        
Net investment income     0 0
Net change in unrealized depreciation or appreciation on investment     0 0
Net increase in members’ capital resulting from operations     0 0
Balance, end of period 0 0 0 0
Non-managing Members        
Changes in Members' Capital [Roll Forward]        
Balance, beginning of period     275,549,455 289,586,404
Capital distributions     (22,497,394) (23,127,464)
Capital redemptions     (2,188,790) (5,303,174)
Increase in members’ capital resulting from operations:        
Net investment income     17,485,224 15,237,009
Net change in unrealized depreciation or appreciation on investment     (355,600) 920,026
Net increase in members’ capital resulting from operations     17,129,624 16,157,035
Balance, end of period $ 267,992,895 $ 277,312,801 $ 267,992,895 $ 277,312,801
XML 16 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Statement of Cash Flows [Abstract]    
Net increase in members’ capital resulting from operations $ 17,129,624 $ 16,157,035
Adjustments to reconcile net increase in members’ capital resulting from operations to net cash provided by operating activities:    
Return of capital on investment 7,066,860 14,012,486
Net change in unrealized depreciation (appreciation) on investment 355,600 (920,026)
Changes in operating assets and liabilities:    
(Increase) decrease in other assets (16,716) 898
Increase (decrease) in accounts payable and accrued expenses 69,320 (251,702)
Decrease in due to Terra Property Trust, Inc. 0 (463,249)
Net cash provided by operating activities 24,604,688 28,535,442
Cash flows from financing activities:    
Distributions paid (22,497,365) (23,129,410)
Payments for capital redemptions (2,188,790) (5,279,768)
Net cash used in financing activities (24,686,155) (28,409,178)
Net (decrease) increase in cash and cash equivalents (81,467) 126,264
Cash and cash equivalents at beginning of period 212,366 41,520
Cash and cash equivalents at end of period 130,899 167,784
Supplemental Disclosure of Cash Flows Information:    
Cash paid for income taxes 0 0
Cash paid for interest $ 0 $ 0
XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Scheules of Investments Statement - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Schedule of Investments    
Common Stock, Shares, Outstanding 14,912,990 14,912,990
Cost $ 268,335,112 $ 275,401,972
Fair Value 268,006,493 275,428,953
Terra Property Trust    
Schedule of Investments    
Real estate 56,756,051 0
Terra Property Trust | US    
Schedule of Investments    
Principal Amount 337,134,835 353,060,995
Cost 339,991,182 357,093,730
Fair Value $ 339,339,196 [1] $ 357,234,672 [2]
% of Members Capital 126.60% [3] 130.00% [4]
Allowance for loan losses $ (375,603)  
Terra Property Trust | Real Estate    
Schedule of Investments    
First mortgage 54,000,000  
Real estate 56,800,000  
Mortgage loan payable 44,800,000  
Net real estate investment $ 12,000,000  
Terra Property Trust | Controlled    
Schedule of Investments    
Equity Method Investment, Ownership Percentage 100.00% 100.00%
Common Stock, Shares, Outstanding 14,912,990 14,912,990
Cost $ 268,335,112 $ 275,401,972
Fair Value $ 268,006,493 $ 275,428,953
% of Members Capital 100.00% 100.00%
Terra Property Trust | Controlled | Initial Acquisition    
Schedule of Investments    
Acquisition Date Jan. 01, 2016 Jan. 01, 2016
Terra Property Trust | Controlled | Subsequent Acquisition    
Schedule of Investments    
Acquisition Date Mar. 07, 2016 Mar. 07, 2016
Terra Property Trust | Non-controlled | US    
Schedule of Investments    
Principal Amount   $ 351,260,995
Cost   355,289,015
Fair Value [2]   $ 355,427,169
% of Members Capital [4]   129.10%
Terra Property Trust | Non-controlled | US | AL    
Schedule of Investments    
Principal Amount   $ 3,700,000
Cost   3,772,716
Fair Value [2]   $ 3,736,507
% of Members Capital [4]   1.40%
Terra Property Trust | Non-controlled | US | CA    
Schedule of Investments    
Principal Amount   $ 110,957,267
Cost   112,268,669
Fair Value [2]   $ 112,051,726
% of Members Capital [4]   40.80%
Terra Property Trust | Non-controlled | US | GA    
Schedule of Investments    
Principal Amount   $ 31,000,000
Cost   31,423,030
Fair Value [2]   $ 31,294,748
% of Members Capital [4]   11.40%
Terra Property Trust | Non-controlled | US | FL    
Schedule of Investments    
Principal Amount   $ 52,132,523
Cost   52,593,063
Fair Value [2]   $ 52,614,536
% of Members Capital [4]   19.10%
Terra Property Trust | Non-controlled | US | NY    
Schedule of Investments    
Principal Amount   $ 56,102,764
Cost   56,561,816
Fair Value [2]   $ 56,616,887
% of Members Capital [4]   20.50%
Terra Property Trust | Non-controlled | US | TX    
Schedule of Investments    
Principal Amount   $ 8,631,243
Cost   8,722,871
Fair Value [2]   $ 8,724,485
% of Members Capital [4]   3.20%
Terra Property Trust | Non-controlled | Mezzanine Loan | US    
Schedule of Investments    
Principal Amount $ 120,400,703  
Cost 121,655,948  
Fair Value [1] $ 121,251,127  
% of Members Capital [3] 45.30%  
Terra Property Trust | Non-controlled | Mezzanine Loan | 150 Blackstone River Road, LLC | US | MA | Industrial    
Schedule of Investments    
Interest Rate 8.50% 8.50%
Exit Fee 0.00%  
Acquisition Date Sep. 21, 2017 Sep. 21, 2017
Maturity Date Sep. 06, 2027 Sep. 06, 2027
Principal Amount $ 7,000,000 $ 7,000,000
Cost 7,000,000 7,000,000
Fair Value $ 6,799,810 [1] $ 7,000,000 [2]
% of Members Capital 2.50% [3] 2.50% [4]
Terra Property Trust | Non-controlled | Mezzanine Loan | 140 Schermerhorn Street Mezz LLC | US | NY | Hotel    
Schedule of Investments    
Interest Rate 12.00% [5],[6],[7] 12.00% [8],[9],[10]
Exit Fee [5],[6],[7] 1.00%  
Acquisition Date Nov. 16, 2016 [5],[6],[7] Nov. 16, 2016 [8],[9],[10]
Maturity Date Dec. 01, 2019 [5],[6],[7] Dec. 01, 2019 [8],[9],[10]
Principal Amount $ 15,000,000 [5],[6],[7] $ 15,000,000 [8],[9],[10]
Cost 15,130,200 [5],[6],[7] 15,118,900 [8],[9],[10]
Fair Value $ 15,174,078 [1],[5],[6],[7] $ 15,131,264 [2],[8],[9],[10]
% of Members Capital 5.70% [3],[5],[6],[7] 5.50% [4],[8],[9],[10]
Terra Property Trust | Non-controlled | Mezzanine Loan | 221 W 17th Street Owner LLC | US | NY | Condominium    
Schedule of Investments    
Interest Rate [6],[7],[11] 12.80%  
Exit Fee [6],[7],[11] 1.00%  
Acquisition Date [6],[7],[11] Jan. 19, 2018  
Maturity Date [6],[7],[11] Mar. 31, 2019  
Principal Amount [6],[7],[11] $ 4,700,000  
Cost [6],[7],[11] 4,744,073  
Fair Value [1],[6],[7],[11] $ 4,745,028  
% of Members Capital [3],[6],[7],[11] 1.80%  
Terra Property Trust | Non-controlled | Mezzanine Loan | 2539 Morse, LLC | US | CA | Student Housing    
Schedule of Investments    
Interest Rate 11.00% [6],[7],[11] 11.00%
Exit Fee [6],[7],[11] 1.00%  
Acquisition Date Oct. 20, 2017 [6],[7],[11] Oct. 20, 2017
Maturity Date Nov. 01, 2020 [6],[7],[11] Nov. 01, 2020
Principal Amount $ 4,666,666 [6],[7],[11] $ 2,333,333
Cost 4,703,686 [6],[7],[11] 2,350,365
Fair Value $ 4,708,032 [1],[6],[7],[11] $ 2,352,364 [2]
% of Members Capital 1.80% [3],[6],[7],[11] 0.90% [4]
Terra Property Trust | Non-controlled | Mezzanine Loan | 37 Gables Member LLC | US | FL | Multifamily    
Schedule of Investments    
Interest Rate 13.00% [7],[11] 13.00% [10],[12]
Exit Fee [7],[11] 1.00%  
Acquisition Date Jun. 16, 2016 [7],[11] Jun. 16, 2016 [10],[12]
Maturity Date Jun. 16, 2019 [7],[11] Jun. 16, 2019 [10],[12]
Principal Amount $ 5,750,000 [7],[11] $ 5,750,000 [10],[12]
Cost 5,802,382 [7],[11] 5,797,477 [10],[12]
Fair Value $ 5,806,875 [1],[7],[11] $ 5,804,127 [2],[10],[12]
% of Members Capital 2.20% [3],[7],[11] 2.10% [4],[10],[12]
Terra Property Trust | Non-controlled | Mezzanine Loan | 575 CAD I LLC | US | NY | Condominium    
Schedule of Investments    
Interest Rate [6],[7],[11] 14.50%  
Exit Fee [6],[7],[11] 1.00%  
Acquisition Date Jan. 31, 2017 [6],[7],[11] Jan. 31, 2017
Maturity Date Jul. 31, 2019 [6],[7],[11] Aug. 01, 2019
Principal Amount $ 14,517,192 [6],[7],[11] $ 12,512,370
Cost 14,641,091 [6],[7],[11] 12,609,885
Fair Value $ 14,644,145 [1],[6],[7],[11] $ 12,612,289 [2]
% of Members Capital 5.50% [3],[6],[7],[11] 4.60% [4]
Terra Property Trust | Non-controlled | Mezzanine Loan | 575 CAD I LLC | US | NY | Condominium | Current    
Schedule of Investments    
Current rate 12.00% [6],[7],[11] 12.00%
Terra Property Trust | Non-controlled | Mezzanine Loan | 575 CAD I LLC | US | NY | Condominium | PIK    
Schedule of Investments    
Deferred rate 2.50% [6],[7],[11] 2.50%
Terra Property Trust | Non-controlled | Mezzanine Loan | Austin H. I. Owner LLC | US | TX | Hotel    
Schedule of Investments    
Interest Rate 12.50% [6],[7] 12.50% [9],[10]
Exit Fee [6],[7] 1.00%  
Acquisition Date Sep. 30, 2015 [6],[7] Sep. 30, 2015 [9],[10]
Maturity Date Oct. 06, 2020 [6],[7] Oct. 06, 2020 [9],[10]
Principal Amount $ 3,500,000 [6],[7] $ 3,500,000 [9],[10]
Cost 3,527,143 [6],[7] 3,524,694 [9],[10]
Fair Value $ 3,505,642 [1],[6],[7] $ 3,527,956 [2],[9],[10]
% of Members Capital 1.30% [3],[6],[7] 1.30% [4],[9],[10]
Terra Property Trust | Non-controlled | Mezzanine Loan | CGI 1100 Biscayne Management Holdco, LLC | US | FL | Hotel    
Schedule of Investments    
Interest Rate [5],[7],[13] 16.00%  
Exit Fee [5],[7],[13] 1.00%  
Acquisition Date Nov. 17, 2017 [5],[7],[13] Nov. 17, 2017 [8],[10],[14]
Maturity Date May 17, 2019 [5],[7],[13] May 17, 2019 [8],[10],[14]
Principal Amount $ 23,450,016 [5],[7],[13] $ 24,522,523 [8],[10],[14]
Cost 23,653,730 [5],[7],[13] 24,717,857 [8],[10],[14]
Fair Value $ 23,672,509 [1],[5],[7],[13] $ 24,734,246 [2],[8],[10],[14]
% of Members Capital 8.80% [3],[5],[7],[13] 9.00% [4],[8],[10],[14]
Terra Property Trust | Non-controlled | Mezzanine Loan | CGI 1100 Biscayne Management Holdco, LLC | US | FL | Hotel | Current    
Schedule of Investments    
Current rate 12.00% [5],[7],[13] 12.00% [8],[10],[14]
Terra Property Trust | Non-controlled | Mezzanine Loan | CGI 1100 Biscayne Management Holdco, LLC | US | FL | Hotel | PIK    
Schedule of Investments    
Deferred rate 4.00% [5],[7],[13] 4.00% [8],[10],[14]
Terra Property Trust | Non-controlled | Mezzanine Loan | High Pointe Mezzanine Investments, LLC | US | SC | Student Housing    
Schedule of Investments    
Interest Rate 13.00% [7],[11] 13.00% [10],[12]
Exit Fee [7],[11] 1.00%  
Acquisition Date Dec. 27, 2013 [7],[11] Dec. 27, 2013 [10],[12]
Maturity Date Jan. 06, 2024 [7],[11] Jan. 06, 2024 [10],[12]
Principal Amount $ 3,000,000 [7],[11] $ 3,000,000 [10],[12]
Cost 3,337,345 [7],[11] 3,381,980 [10],[12]
Fair Value $ 3,059,075 [1],[7],[11] $ 3,416,021 [2],[10],[12]
% of Members Capital 1.10% [3],[7],[11] 1.20% [4],[10],[12]
Terra Property Trust | Non-controlled | Mezzanine Loan | Kingsport 925-Mezz LLC | US | TN | Multifamily    
Schedule of Investments    
Interest Rate 13.00% [7],[11] 13.00% [10],[12]
Exit Fee [7],[11] 1.00%  
Acquisition Date Jan. 06, 2014 [7],[11] Jan. 06, 2014 [10],[12]
Maturity Date Dec. 05, 2018 [7],[11] Dec. 05, 2018 [10],[12]
Principal Amount $ 3,000,000 [7],[11] $ 3,000,000 [10],[12]
Cost 3,045,087 [7],[11] 3,115,146 [10],[12]
Fair Value $ 3,037,332 [1],[7],[11] $ 3,099,690 [2],[10],[12]
% of Members Capital 1.10% [3],[7],[11] 1.10% [4],[10],[12]
Terra Property Trust | Non-controlled | Mezzanine Loan | KOP Hotel XXXI Mezz LP | US | PA | Hotel    
Schedule of Investments    
Interest Rate [6],[7],[15] 13.00%  
Exit Fee [6],[7],[15] 0.50%  
Acquisition Date [6],[7],[15] Nov. 24, 2015  
Maturity Date [6],[7],[15] Dec. 06, 2022  
Principal Amount [6],[7],[15] $ 1,800,000  
Cost [6],[7],[15] 1,805,201  
Fair Value [1],[6],[7],[15] $ 1,809,101  
% of Members Capital [3],[6],[7],[15] 0.70%  
Terra Property Trust | Non-controlled | Mezzanine Loan | LD Milipitas Mezz, LLC | US | CA | Hotel    
Schedule of Investments    
Interest Rate [15],[16] 13.00%  
Loans Receivable, Description of Variable Rate Basis [5],[7],[13] LIBOR  
Exit Fee [15],[16] 1.00%  
Acquisition Date [15],[16] Jun. 27, 2018  
Maturity Date [15],[16] Jun. 27, 2021  
Principal Amount [15],[16] $ 0  
Cost [15],[16] 0  
Fair Value [1],[15],[16] $ 0  
% of Members Capital [3],[15],[16] 0.00%  
Terra Property Trust | Non-controlled | Mezzanine Loan | LD Milipitas Mezz, LLC | US | CA | Hotel | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[7],[13] 10.25%  
LIBOR Floor [5],[7],[13] 2.80%  
Terra Property Trust | Non-controlled | Mezzanine Loan | Northland Museo Member, LLC | US | TX | Multifamily    
Schedule of Investments    
Interest Rate 12.00% [7],[11] 12.00% [10],[12]
Exit Fee [7],[11] 0.00%  
Acquisition Date Nov. 22, 2013 [7],[11] Nov. 22, 2013 [10],[12]
Maturity Date Dec. 06, 2018 [7],[11] Dec. 06, 2018 [10],[12]
Principal Amount $ 4,000,000 [7],[11] $ 4,000,000 [10],[12]
Cost 3,995,372 [7],[11] 3,974,543 [10],[12]
Fair Value $ 4,000,000 [1],[7],[11] $ 4,054,106 [2],[10],[12]
% of Members Capital 1.50% [3],[7],[11] 1.50% [4],[10],[12]
Terra Property Trust | Non-controlled | Mezzanine Loan | SparQ Mezz Borrower, LLC | US | CA | Multifamily    
Schedule of Investments    
Interest Rate 12.00% 12.00% [17]
Exit Fee 1.00%  
Acquisition Date Sep. 29, 2017 Sep. 29, 2017 [17]
Maturity Date Oct. 01, 2020 Oct. 01, 2020 [17]
Principal Amount $ 7,620,000 $ 449,140 [17]
Cost 7,679,794 452,358 [17]
Fair Value $ 7,687,489 [1] $ 452,772 [2],[17]
% of Members Capital 2.90% [3] 0.20% [4],[17]
Total Commitment   $ 8,700,000
Terra Property Trust | Non-controlled | Mezzanine Loan | Stonewall Station Mezz LLC | US | NC | Hotel    
Schedule of Investments    
Interest Rate [5],[7] 14.00%  
Exit Fee [5],[7] 1.00%  
Acquisition Date [5],[7] Jun. 01, 2018  
Maturity Date [5],[7] May 20, 2021  
Principal Amount [5],[7] $ 8,059,559  
Cost [5],[7] 8,114,824  
Fair Value [1],[5],[7] $ 8,122,926  
% of Members Capital [3],[5],[7] 3.00%  
Terra Property Trust | Non-controlled | Mezzanine Loan | Stonewall Station Mezz LLC | US | NC | Hotel | Current    
Schedule of Investments    
Current rate [5],[7] 12.00%  
Terra Property Trust | Non-controlled | Mezzanine Loan | Stonewall Station Mezz LLC | US | NC | Hotel | PIK    
Schedule of Investments    
Current rate [5],[7] 2.00%  
Terra Property Trust | Non-controlled | Mezzanine Loan | WWML96MEZZ, LLC | US | NY | Condominium    
Schedule of Investments    
Interest Rate 13.00% 13.00%
Exit Fee 1.00%  
Acquisition Date Dec. 18, 2015 Dec. 18, 2015
Maturity Date Dec. 31, 2018 Dec. 31, 2018
Principal Amount $ 14,337,270 $ 9,925,340
Cost 14,476,020 10,012,399
Fair Value $ 14,479,085 [1] $ 10,023,515 [2]
% of Members Capital 5.40% [3] 3.60% [4]
Terra Property Trust | Non-controlled | Mezzanine Loan | AHF-Heritage 1, LLC | US | TX | Multifamily    
Schedule of Investments    
Interest Rate   14.00%
Acquisition Date   Jul. 30, 2012
Maturity Date   Aug. 11, 2022
Principal Amount   $ 1,131,243
Cost   1,223,634
Fair Value [2]   $ 1,142,423
% of Members Capital [4]   0.40%
Terra Property Trust | Non-controlled | Mezzanine Loan | BPG Office Partners III/IV LLC | US | DE | Office Building    
Schedule of Investments    
Interest Rate [9],[10],[12]   13.50%
Acquisition Date [9],[10],[12]   Jun. 05, 2015
Maturity Date [9],[10],[12]   Jun. 05, 2018
Principal Amount [9],[10],[12]   $ 10,000,000
Cost [9],[10],[12]   10,094,309
Fair Value [2],[9],[10],[12]   $ 10,098,872
% of Members Capital [4],[9],[10],[12]   3.70%
Terra Property Trust | Non-controlled | Mezzanine Loan | YMP Georgia Portfolio Mezzanine, LLC | US | GA | Multifamily    
Schedule of Investments    
Interest Rate   14.00%
Acquisition Date   Dec. 19, 2013
Maturity Date   Jan. 06, 2019
Principal Amount   $ 3,500,000
Cost   3,663,309
Fair Value [2]   $ 3,535,027
% of Members Capital [4]   1.30%
Terra Property Trust | Non-controlled | Mezzanine Loan | Muncie Mezz, LLC | US | IN | Student Housing    
Schedule of Investments    
Interest Rate   13.00%
Acquisition Date   Aug. 29, 2013
Maturity Date   Sep. 06, 2023
Principal Amount   $ 2,700,000
Cost   2,689,608
Fair Value [2]   $ 3,033,655
% of Members Capital [4]   1.10%
Terra Property Trust | Non-controlled | Mezzanine Loan | Milestone Greensboro Holdings, LLC | US | NC | Hotel    
Schedule of Investments    
Interest Rate [10],[12]   14.00%
Acquisition Date [10],[12]   Mar. 01, 2013
Maturity Date [10],[12]   Mar. 01, 2018
Principal Amount [10],[12]   $ 3,500,000
Cost [10],[12]   3,537,223
Fair Value [2],[10],[12]   $ 3,534,591
% of Members Capital [4],[10],[12]   1.30%
Terra Property Trust | Non-controlled | Mezzanine Loan | Cape Church Mezz, LLC | US | NY | Condominium    
Schedule of Investments    
Interest Rate [10],[12],[18]   12.00%
Acquisition Date [10],[12],[18]   Mar. 15, 2016
Maturity Date [10],[12],[18]   Jul. 15, 2019
Principal Amount [10],[12],[18]   $ 17,178,883
Cost [10],[12],[18]   17,321,426
Fair Value [2],[10],[12],[18]   $ 17,348,948
% of Members Capital [4],[10],[12],[18]   6.30%
Terra Property Trust | Non-controlled | Mezzanine Loan | Pollin Hotels PDX Mezzanine, LLC | US | OR | Hotel    
Schedule of Investments    
Interest Rate [10],[12]   13.00%
Acquisition Date [10],[12]   Sep. 23, 2013
Maturity Date [10],[12]   Oct. 06, 2018
Principal Amount [10],[12]   $ 5,000,000
Cost [10],[12]   5,181,187
Fair Value [2],[10],[12]   $ 5,196,794
% of Members Capital [4],[10],[12]   1.90%
Terra Property Trust | Non-controlled | Preferred Equity Investment | US    
Schedule of Investments    
Principal Amount $ 156,909,132  
Cost 157,911,984  
Fair Value [1] $ 157,670,863  
% of Members Capital [3] 58.90%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | ASA Mgt Holdings LLC | US | AL | Multifamily    
Schedule of Investments    
Interest Rate 16.00% 16.00%
Exit Fee 1.00%  
Acquisition Date Apr. 07, 2012 Apr. 07, 2012
Maturity Date Aug. 01, 2022 Aug. 01, 2022
Principal Amount $ 2,100,000 $ 2,100,000
Cost 2,136,357 2,139,967
Fair Value $ 2,120,720 [1] $ 2,120,720 [2]
% of Members Capital 0.80% [3] 0.80% [4]
Terra Property Trust | Non-controlled | Preferred Equity Investment | City Gardens 333 LLC | US | CA | Student Housing    
Schedule of Investments    
Interest Rate [5],[7],[13] 12.20%  
Loans Receivable, Description of Variable Rate Basis [5],[7],[13] LIBOR  
Exit Fee [5],[7],[13] 0.00%  
Acquisition Date [5],[7],[13] Apr. 11, 2018  
Maturity Date [5],[7],[13] Apr. 01, 2021  
Principal Amount [5],[7],[13] $ 19,497,232  
Cost [5],[7],[13] 19,497,232  
Fair Value [1],[5],[7],[13] $ 19,497,232  
% of Members Capital [3],[5],[7],[13] 7.30%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | City Gardens 333 LLC | US | CA | Student Housing | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[7],[13] 9.95%  
LIBOR Floor [5],[7],[13] 2.00%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Greystone Gables Holdings Member LLC | US | FL | Multifamily    
Schedule of Investments    
Interest Rate 13.00% [7],[11] 13.00% [10],[12]
Exit Fee [7],[11] 1.00%  
Acquisition Date Jun. 16, 2016 [7],[11] Jun. 16, 2016 [10],[12]
Maturity Date Jun. 16, 2019 [7],[11] Jun. 16, 2019 [10],[12]
Principal Amount $ 500,000 [7],[11] $ 500,000 [10],[12]
Cost 504,555 [7],[11] 504,129 [10],[12]
Fair Value $ 504,946 [1],[7],[11] $ 504,707 [2],[10],[12]
% of Members Capital 0.20% [3],[7],[11] 0.20% [4],[10],[12]
Terra Property Trust | Non-controlled | Preferred Equity Investment | L.A. Warner Hotel Partners, LLC | US | CA | Hotel    
Schedule of Investments    
Interest Rate 12.00% [6],[7],[11],[19] 12.00% [9],[10],[12]
Exit Fee [6],[7],[11],[19] 1.00%  
Acquisition Date Jul. 25, 2014 [6],[7],[11],[19] Jul. 25, 2014 [9],[10],[12]
Maturity Date Aug. 02, 2019 [6],[7],[11],[19] Aug. 04, 2018 [9],[10],[12]
Principal Amount $ 32,100,000 [6],[7],[11],[19] $ 32,100,000 [9],[10],[12]
Cost 32,541,303 [6],[7],[11],[19] 32,640,675 [9],[10],[12]
Fair Value $ 32,417,778 [1],[6],[7],[11],[19] $ 32,417,778 [2],[9],[10],[12]
% of Members Capital 12.10% [3],[6],[7],[11],[19] 11.80% [4],[9],[10],[12]
Terra Property Trust | Non-controlled | Preferred Equity Investment | NB Private Capital LLC | US | IL | Student Housing    
Schedule of Investments    
Interest Rate [5],[7],[13] 14.00%  
Loans Receivable, Description of Variable Rate Basis [5],[7],[13] LIBOR  
Exit Fee [5],[7],[13] 1.00%  
Acquisition Date [5],[7],[13] Jul. 27, 2018  
Maturity Date [5],[7],[13] Jul. 27, 2020  
Principal Amount [5],[7],[13] $ 25,500,000  
Cost [5],[7],[13] 25,598,552  
Fair Value [1],[5],[7],[13] $ 25,598,552  
% of Members Capital [3],[5],[7],[13] 9.60%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | NB Private Capital LLC | US | IL | Student Housing | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[7],[13] 10.50%  
LIBOR Floor [5],[7],[13] 3.50%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Nelson Brothers Professional Real Estate, LLC | US | OH | Student Housing    
Schedule of Investments    
Interest Rate 14.00%  
Exit Fee 1.00%  
Acquisition Date Jul. 27, 2016  
Maturity Date Feb. 01, 2019  
Principal Amount $ 4,575,000  
Cost 4,620,750  
Fair Value [1] $ 4,620,215  
% of Members Capital [3] 1.70%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Orange Grove Property Investors LLC | US | CA | Condominium    
Schedule of Investments    
Interest Rate [5],[7] 12.00%  
Loans Receivable, Description of Variable Rate Basis [5],[7] LIBOR  
Exit Fee [5],[7] 1.00%  
Acquisition Date [5],[7] May 24, 2018  
Maturity Date [5],[7] Jun. 01, 2021  
Principal Amount [5],[7] $ 8,350,000  
Cost [5],[7] 8,410,443  
Fair Value [1],[5],[7] $ 8,414,279  
% of Members Capital [3],[5],[7] 3.10%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Orange Grove Property Investors LLC | US | CA | Condominium | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[7] 8.00%  
LIBOR Floor [5],[7] 4.00%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | REEC Harlem Holdings Company LLC | US | NY | Land    
Schedule of Investments    
Interest Rate 14.80%  
Loans Receivable, Description of Variable Rate Basis LIBOR  
Exit Fee 0.00%  
Acquisition Date Mar. 09, 2018  
Maturity Date Mar. 09, 2023  
Principal Amount $ 20,619,375  
Cost 20,619,375  
Fair Value [1] $ 20,619,375  
% of Members Capital [3] 7.70%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | REEC Harlem Holdings Company LLC | US | NY | Land | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate 12.50%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | RS JZ Driggs, LLC | US | NY | Multifamily    
Schedule of Investments    
Interest Rate 12.30%  
Exit Fee [5],[7] 1.00%  
Acquisition Date May 01, 2018  
Maturity Date [5],[7] May 01, 2020  
Principal Amount [5],[7] $ 2,384,501  
Cost [5],[7] 2,404,103  
Fair Value [1],[5],[7] $ 2,404,103  
% of Members Capital [3],[5],[7] 0.90%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | SVA Mgt Holdings LLC | US | AL | Multifamily    
Schedule of Investments    
Interest Rate 16.00% 16.00%
Exit Fee 1.00%  
Acquisition Date Apr. 07, 2012 Apr. 07, 2012
Maturity Date Aug. 01, 2022 Aug. 01, 2022
Principal Amount $ 1,600,000 $ 1,600,000
Cost 1,629,622 1,632,749
Fair Value $ 1,615,786 [1] $ 1,615,787 [2]
% of Members Capital 0.60% [3] 0.60% [4]
Terra Property Trust | Non-controlled | Preferred Equity Investment | The Bristol at Southport, LLC | US | WA | Multifamily    
Schedule of Investments    
Interest Rate [6],[7],[11],[13] 12.00%  
Exit Fee [6],[7],[11],[13] 1.00%  
Acquisition Date Sep. 22, 2017 [6],[7],[11],[13] Sep. 22, 2017 [10],[14]
Maturity Date Sep. 22, 2022 [6],[7],[11],[13] Sep. 22, 2022 [10],[14]
Principal Amount $ 22,984,018 [6],[7],[11],[13] $ 22,616,528 [10],[14]
Cost 23,123,032 [6],[7],[11],[13] 22,743,477 [10],[14]
Fair Value $ 23,030,885 [1],[6],[7],[11],[13] $ 22,807,927 [2],[10],[14]
% of Members Capital 8.60% [3],[6],[7],[11],[13] 8.30% [4],[10],[14]
Terra Property Trust | Non-controlled | Preferred Equity Investment | The Bristol at Southport, LLC | US | WA | Multifamily | Current    
Schedule of Investments    
Current rate 10.00% [6],[7],[11],[13] 10.00% [10],[14]
Terra Property Trust | Non-controlled | Preferred Equity Investment | The Bristol at Southport, LLC | US | WA | Multifamily | PIK    
Schedule of Investments    
Current rate 2.00% [6],[7],[11],[13] 2.00% [10],[14]
Terra Property Trust | Non-controlled | Preferred Equity Investment | Windy Hill PV Seven CM LLC | US | CA | Office Building    
Schedule of Investments    
Interest Rate 12.50%  
Exit Fee 1.00%  
Acquisition Date Jan. 09, 2018  
Maturity Date Jan. 09, 2021  
Principal Amount $ 15,149,586  
Cost 15,262,246  
Fair Value [1] $ 15,262,246  
% of Members Capital [3] 5.70%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Windy Hill PV Seven CM LLC | US | CA | Office Building | Current    
Schedule of Investments    
Current rate 10.00%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | Windy Hill PV Seven CM LLC | US | CA | Office Building | PIK    
Schedule of Investments    
Current rate 2.50%  
Terra Property Trust | Non-controlled | Preferred Equity Investment | WWML96, LLC | US | NY | Condominium    
Schedule of Investments    
Interest Rate 13.00% 13.00%
Exit Fee 1.00%  
Acquisition Date Dec. 18, 2015 Dec. 18, 2015
Maturity Date Dec. 31, 2018 Dec. 31, 2018
Principal Amount $ 1,549,420 $ 1,486,171
Cost 1,564,414 1,499,206
Fair Value $ 1,564,746 [1] $ 1,500,871 [2]
% of Members Capital 0.60% [3] 0.50% [4]
Terra Property Trust | Non-controlled | Preferred Equity Investment | Palmer City-Core Stockton Street, LLC | US | CA | Hotel    
Schedule of Investments    
Interest Rate [20]   12.00%
Acquisition Date [20]   Jan. 17, 2014
Maturity Date [20]   Jan. 17, 2018
Principal Amount [20]   $ 4,325,000
Cost [20]   4,368,250
Fair Value [2],[20]   $ 4,367,816
% of Members Capital [4],[20]   1.60%
Terra Property Trust | Non-controlled | Preferred Equity Investment | NB Factory JV, LLC | US | UT | Student Housing    
Schedule of Investments    
Interest Rate [8],[10]   15.00%
Acquisition Date [8],[10]   Jun. 29, 2017
Maturity Date [8],[10]   Jun. 26, 2020
Principal Amount [8],[10]   $ 3,595,670
Cost [8],[10]   3,595,670
Fair Value [2],[8],[10]   $ 3,595,670
% of Members Capital [4],[8],[10]   1.20%
Terra Property Trust | Non-controlled | First Mortgage | US    
Schedule of Investments    
Principal Amount $ 59,825,000  
Cost 60,423,250  
Fair Value [1] $ 60,417,206  
% of Members Capital [3] 22.60%  
Terra Property Trust | Non-controlled | First Mortgage | Millennium Waterfront Associates, L.P. | US | PA | Land    
Schedule of Investments    
Interest Rate 12.00% 12.00%
Exit Fee 1.00%  
Acquisition Date Jul. 02, 2015 Jul. 02, 2015
Maturity Date Dec. 28, 2018 Dec. 28, 2018
Principal Amount $ 14,325,000 $ 14,325,000
Cost 14,468,250 14,468,250
Fair Value $ 14,466,812 [1] $ 14,466,812 [2]
% of Members Capital 5.40% [3] 5.30% [4]
Terra Property Trust | Non-controlled | First Mortgage | OHM Atlanta Owner, LLC | US | GA | Land    
Schedule of Investments    
Interest Rate 12.00% [5],[7],[13] 12.00% [8],[10],[14]
Loans Receivable, Description of Variable Rate Basis [5],[7],[13] LIBOR  
Exit Fee [5],[7],[13] 1.00%  
Acquisition Date Jun. 20, 2017 [5],[7],[13] Jun. 20, 2017 [8],[10],[14]
Maturity Date Dec. 20, 2018 [5],[7],[13] Jun. 20, 2018 [8],[10],[14]
Principal Amount $ 27,500,000 [5],[7],[13] $ 27,500,000 [8],[10],[14]
Cost 27,775,000 [5],[7],[13] 27,759,721 [8],[10],[14]
Fair Value $ 27,772,240 [1],[5],[7],[13] $ 27,759,721 [2],[8],[10],[14]
% of Members Capital 10.40% [3],[5],[7],[13] 10.10% [4],[8],[10],[14]
Terra Property Trust | Non-controlled | First Mortgage | OHM Atlanta Owner, LLC | US | GA | Land | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[7],[13] 9.00%  
LIBOR Floor [5],[7],[13] 3.00%  
Terra Property Trust | Non-controlled | First Mortgage | TSG-Parcel 1, LLC | US | CA | Land    
Schedule of Investments    
Interest Rate 12.30% [5],[6],[7] 12.00% [8],[9],[10]
Loans Receivable, Description of Variable Rate Basis [5],[6],[7] LIBOR  
Exit Fee [5],[6],[7] 1.00%  
Acquisition Date Jul. 10, 2015 [5],[6],[7] Jul. 10, 2015 [8],[9],[10]
Maturity Date Dec. 31, 2018 [5],[6],[7] Apr. 10, 2018 [8],[9],[10]
Principal Amount $ 18,000,000 [5],[6],[7] $ 18,000,000 [8],[9],[10]
Cost 18,180,000 [5],[6],[7] 18,180,000 [8],[9],[10]
Fair Value $ 18,178,154 [1],[5],[6],[7] $ 18,178,193 [2],[8],[9],[10]
% of Members Capital 6.80% [3],[5],[6],[7] 6.60% [4],[8],[9],[10]
Terra Property Trust | Non-controlled | First Mortgage | TSG-Parcel 1, LLC | US | CA | Land | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate [5],[6],[7] 10.00%  
LIBOR Floor [5],[6],[7] 2.00%  
Terra Property Trust | Non-controlled | First Mortgage | Maguire Partners-1733 Ocean, LLC | US | CA | Office Building    
Schedule of Investments    
Loans Receivable, Description of Variable Rate Basis   LIBOR
Acquisition Date   Mar. 07, 2016
Maturity Date   Mar. 09, 2018
Principal Amount   $ 53,749,794
Cost   54,277,021
Fair Value [2]   $ 54,282,803
% of Members Capital [4]   19.70%
Terra Property Trust | Non-controlled | First Mortgage | Maguire Partners-1733 Ocean, LLC | US | CA | Office Building | LIBOR    
Schedule of Investments    
Loans Receivable, Basis Spread on Variable Rate   8.50%
Terra Property Trust | Non-controlled | First Mortgage | RS JZ 2700 NW2, LLC | US | FL | Land    
Schedule of Investments    
Interest Rate [9],[10]   12.00%
Acquisition Date [9],[10]   Sep. 01, 2016
Maturity Date [9],[10]   Mar. 01, 2018
Principal Amount [9],[10]   $ 21,360,000
Cost [9],[10]   21,573,600
Fair Value [2],[9],[10]   $ 21,571,456
% of Members Capital [4],[9],[10]   7.80%
Terra Property Trust | Non-controlled | Revolving Credit Facility | Nelson Brothers Professional Real Estate, LLC | US | Other States | Other Real Estate Type    
Schedule of Investments    
Interest Rate   14.00%
Acquisition Date   Aug. 31, 2016
Maturity Date   Feb. 01, 2019
Principal Amount   $ 14,000,000
Cost   14,140,000
Fair Value [2]   $ 14,138,248
% of Members Capital [4]   5.10%
Terra Property Trust | Non-controlled | Participation Interests | US    
Schedule of Investments    
Principal Amount   $ 1,800,000
Cost   1,804,715
Fair Value [2]   $ 1,807,503
% of Members Capital [4]   1.00%
Terra Property Trust | Non-controlled | Participation Interests | Mezzanine Loan | KOP Hotel XXXI Mezz LP | US | PA | Hotel    
Schedule of Investments    
Interest Rate [9],[10],[21]   13.00%
Acquisition Date [9],[10],[21]   Nov. 24, 2015
Maturity Date [9],[10],[21]   Dec. 06, 2022
Principal Amount [9],[10],[21]   $ 1,800,000
Cost [9],[10],[21]   1,804,715
Fair Value [2],[9],[10],[21]   $ 1,807,503
% of Members Capital [4],[9],[10],[21]   1.00%
Terra Property Trust | Non-controlled | Participation Interests | Mezzanine Loan | LD Milipitas Mezz, LLC | US | CA | Hotel    
Schedule of Investments    
Total Commitment $ 4,300,000  
Ownership Interest 25.00%  
Obligations Under Participation Agreements | Terra Property Trust | US    
Schedule of Investments    
Principal Amount $ 99,800,355 [5],[6],[7],[11],[13] $ 75,077,891 [8],[9],[10],[12],[14]
Cost 100,740,686 [5],[6],[7],[11],[13] 76,053,279 [8],[9],[10],[12],[14]
Fair Value $ 100,562,730 [1],[5],[6],[7],[11],[13] $ 75,991,436 [2],[8],[9],[10],[12],[14]
% of Members Capital 37.50% [3],[5],[6],[7],[11],[13] 28.00% [4],[8],[9],[10],[12],[14]
Investment Net | Terra Property Trust | US    
Schedule of Investments    
Principal Amount $ 237,334,480 [22] $ 277,983,104
Cost 238,874,893 [22] 281,040,451
Fair Value $ 238,776,466 [1],[22] $ 281,243,236 [2]
% of Members Capital 89.10% [22] 102.00% [4]
[1] Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra REIT Advisors, LLC (“Terra REIT Advisors”), Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy.
[2] Because there is no readily available market for these loans, these loans were valued using significant unobservable inputs under Level 3 of the fair value hierarchy and were approved in good faith by Terra Income Advisors, Terra Property Trust’s manager, pursuant to Terra Property Trust’s valuation policy.
[3] Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $268.0 million as of September 30, 2018.
[4] Percentages are based on the fair value of the Company’s investment in Terra Property Trust of $275.4 million as of December 31, 2017.
[5] Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors, LLC (“Terra Income Advisors”), an affiliate of our sponsor and Terra Property Trust’s manager.
[6] Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra REIT Advisors.
[7] The loan participations from Terra Property Trust do not qualify for sale accounting under Accounting Standards Codification (“ASC”) Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition.
[8] Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Income Fund 6, Inc., an affiliated fund advised by Terra Income Advisors.
[9] Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Secured Income Fund 5 International, an affiliated fund advised by Terra Income Advisors.
[10] The loan participations from Terra Property Trust do not qualify for sale accounting under ASC Topic 860, Transfers and Servicing, and therefore, the gross amount of these loans remain in the consolidated statements of financial condition.
[11] Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra REIT Advisors.
[12] Terra Property Trust sold a portion of its interests in these loans via participation agreements to Terra Income Fund International, an affiliated fund advised by Terra Income Advisors.
[13] Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by Terra REIT Advisors.
[14] Terra Property Trust sold a portion of its interest in this loan through a participation agreement to Terra Property Trust 2, Inc., an affiliated fund managed by a subsidiary of Terra Income Advisors.
[15] Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement.
[16] On June 27, 2018, Terra Property Trust entered into a participation agreement with Terra Income Fund 6, Inc. to purchase a 25% interest, or $4.3 million, in a mezzanine loan. As of September 30, 2018, none of the commitment has been funded.
[17] On September 29, 2017, Terra Property Trust entered into agreement with the borrower to provide funding commitment of up to $8.7 million. As of December 31, 2017, $0.4 million has been funded.
[18] This loan was repaid on January 26, 2018.
[19] This loan was repaid on October 17, 2018.
[20] This loan was repaid on January 17, 2018.
[21] Terra Property Trust purchased its interest in this loan from Terra Income Fund 6, Inc. through a participation agreement.
[22] In addition to its net loan portfolio, on July 30, 2018, Terra Property Trust foreclosed on a multi-tenant office building encumbering a $54.0 million first mortgage in exchange for the relief of the first mortgage and related fees and expenses. As of September 30, 2018, the office building had a carrying value of $56.8 million and the mortgage loan payable encumbering the office building was $44.8 million for a net carrying value of approximately $12.0 million.
XML 18 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business
 9 Months Ended
Sep. 30, 2018
Limited Liability Companies LLCs [Abstract]  
Business
Note 1. Business
 
Terra Secured Income Fund 5, LLC (and, together with its consolidated subsidiaries, the “Company”), is a specialized real estate finance company that originates, structures, funds and manages high yielding commercial real estate investments, including mezzanine loans, first mortgage loans, subordinated mortgage loans and preferred equity investments throughout the United States. The Company’s investments finance the acquisition, construction, development or redevelopment of quality commercial real estate in the United States. The Company focuses on smaller, middle market loans in the approximately $3 million to $50 million range which are financing properties in primary and secondary markets because it believes these loans are subject to less competition, offer higher risk adjusted returns than larger loans with similar risk metrics and facilitate portfolio diversification. The Company was formed as a Delaware limited liability company on April 24, 2013 and commenced operations on August 8, 2013. The Company makes substantially all of its investments and conduct substantially all of its real estate lending business through Terra Property Trust, which has elected to be taxed as a real estate investment trust (“REIT”) for U.S. federal income tax purposes commencing with its taxable year ended December 31, 2016. The Company’s objectives are to (i) preserve its members’ capital contributions, (ii) realize income from its investments and (iii) make monthly distributions to its members from cash generated from investments. There can be no assurances that the Company will be successful in meeting its objectives.

In December 2015, the members approved the merger of Terra Secured Income Fund, LLC (“Terra Fund 1”), Terra Secured Income Fund 2, LLC (“Terra Fund 2”), Terra Secured Income Fund 3, LLC (“Terra Fund 3”) and Terra Secured Income Fund 4, LLC (“Terra Fund 4”) with and into subsidiaries of the Company (individually, each a “Terra Fund” and collectively, the “Terra Funds”) through a series of separate mergers effective January 1, 2016 (collectively, the “Merger”). Following the Merger, the Company contributed the consolidated portfolio of net assets of the five Terra Funds to Terra Property Trust, a newly-formed and wholly-owned subsidiary of the Company that elected to be taxed as a REIT, in exchange for the shares of common stock of Terra Property Trust. Upon completion of the Merger, the Company became the parent company of Terra Funds 1 through 4 and the direct and indirect sole common stockholder of, and began conducting substantially all of its real estate lending business through, Terra Property Trust. The Company does not consolidate Terra Property Trust as Terra Property Trust is not an investment company.

The Company’s investment activities were externally managed by Terra Income Advisors, a private investment firm affiliated with the Company until February 8, 2018 when Terra Capital Partners, LLC (“Terra Capital Partners”), the Company’s sponsor, caused a new subsidiary of Terra Capital Partners, Terra Fund Advisors, LLC (“Terra Fund Advisors”), to be admitted as the replacement manager of the Company. When used herein the term “Manager” refers to Terra Income Advisors for periods prior to February 8, 2018 and refers to Terra Fund Advisors beginning on such date. The Company does not currently have any employees and does not expect to have any employees. Services necessary for the Company’s business are provided by individuals who are employees of the Manager or its affiliates or by individuals who were contracted by the Company or by the Manager or its affiliates to work on behalf of the Company pursuant to the terms of the operating agreement, as amended.

The Company will continue in existence until December 31, 2023; however, the Company expects to be terminated or to consummate an alternative liquidity transaction on or prior to the five-year anniversary of the completion of the Company’s original offering, which was January 31, 2015, unless extended for up to a maximum of two one-year extensions at the discretion of the Manager, in order to facilitate an orderly liquidation or to consummate such alternative liquidity transaction.
XML 19 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note 2. Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and include all of the Company’s accounts and those of its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The accompanying interim financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company is an investment company, as defined under U.S. GAAP, and applies accounting and reporting guidance in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 946, Financial Services - Investment Companies.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of gains (losses), income and expenses during the reporting period. Actual results could significantly differ from those estimates. The most significant estimates inherent in the preparation of the Company’s consolidated financial statements is the valuation of investments (Note 3).

Equity Investment in Terra Property Trust

Equity investment in Terra Property Trust represents the Company’s equity interest in Terra Property Trust, which was initially recorded at cost. Subsequent to the asset contribution, the equity investment is reported, at each reporting date, at fair value on the consolidated statements of financial condition. Change in fair value is reported in net change in unrealized appreciation or depreciation on investment on the consolidated statements of operations.

Revenue Recognition

Dividend Income: Dividend income associated with the Company’s ownership of Terra Property Trust is recognized on the record date as declared by Terra Property Trust. Any excess of dividends over Terra Property Trust’s net income are recorded as return of capital.

Other Operating Income: All other income is recognized when earned.

Cash and Cash Equivalents

The Company considers all highly liquid investments, with original maturities of ninety days or less when purchased, as cash equivalents. Cash and cash equivalents are exposed to concentrations of credit risk. The Company maintains all of its cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation.
 
Income Taxes

No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of the Company’s taxable income. The Company, however, may be liable for New York City Unincorporated Business Tax (the “NYC UBT”) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the three and nine months ended September 30, 2018 and 2017, none of the Company’s income was subject to the NYC UBT.

Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the consolidated financial statements and tax basis assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Such deferred tax assets and liabilities were not material.

The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, Income Taxes, nor did the Company have any unrecognized tax benefits as of the periods presented herein. The Company recognizes interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in its consolidated statements of operations. For the three and nine months ended September 30, 2018 and 2017, the Company did not incur any interest or penalties. Although the Company files federal and state tax returns, its primary tax jurisdiction is federal. The Company’s inception-to-date federal tax years remain subject to examination by the Internal Revenue Service.

Recent Accounting Pronouncement
    
In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. The Company adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on its consolidated financial statements and disclosures.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity’s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on its consolidated financial statements and disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on the Company’s consolidated financial statements and disclosures as the Company does not have any lease arrangements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB’s Emerging Issues Task Force (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on its consolidated financial statements and disclosures.

In June 2018, the Securities and Exchange Commission (the “SEC”) adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a “smaller reporting company” if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on the Company.
    
In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements and disclosures.

In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the “Final Rule”). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders’ equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November 5, 2018; however, the SEC would not object if a filer’s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. The Company intends to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on the Company’s consolidated financial statements and disclosures.
XML 20 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value
 9 Months Ended
Sep. 30, 2018
Investments [Abstract]  
Investments And Fair Value Measurements [Text Block]
Note 3. Investment and Fair Value

Equity Investment in Terra Property Trust

The Company invests substantially all of its equity capital in the purchase of common shares of Terra Property Trust.

The following table presents a summary of the Company’s investment at September 30, 2018 and December 31, 2017:
 
 
September 30, 2018
 
December 31, 2017
Investment
 
Cost
 
Fair Value
 
% of Members’ Capital
 
Cost
 
Fair Value
 
% of Members’ Capital
14,912,990 common shares
   of Terra Property Trust, Inc.
 
$
268,335,112

 
$
268,006,493

 
100.0
%
 
$
275,401,972

 
$
275,428,953

 
100.0
%


For the three months ended September 30, 2018 and 2017, the Company received approximately $8.1 million and $13.1 million of distributions from Terra Property Trust, respectively, of which $2.6 million and $8.7 million was a return of capital, respectively. For the nine months ended September 30, 2018 and 2017, the Company received approximately $24.9 million and $29.7 million of distributions from Terra Property Trust, respectively, of which $7.1 million and $14.0 million were returns of capital, respectively.

The following tables present the summarized financial information of Terra Property Trust:
 
 
September 30, 2018
 
December 31, 2017
Carrying value of loans held for investment
 
$
339,615,579

 
$
357,093,730

Real estate owned, net
 
56,756,051

 
—

Other assets
 
41,064,173

 
51,899,445

Total assets
 
437,435,803

 
408,993,175

Mortgage loan payable and obligations under participation agreements
 
(145,573,187
)
 
(110,175,525
)
Accounts payable, accrued expenses and other liabilities
 
(23,431,489
)
 
(23,307,944
)
Total liabilities
 
(169,004,676
)
 
(133,483,469
)
Stockholder’s equity
 
$
268,431,127

 
$
275,509,706

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30, 2018
 
 
2018
 
2017
 
2018
 
2017
Revenues
 
$
12,788,205

 
$
9,651,677

 
$
35,751,197

 
$
28,197,274

Expenses
 
(7,300,400
)
 
(4,598,716
)
 
(17,921,479
)
 
(12,379,894
)
Realized gain on investments
 
—

 
(604,169
)
 
—

 
(114,209
)
Net income
 
$
5,487,805

 
$
4,448,792

 
$
17,829,718

 
$
15,703,171



Fair Value Measurements

The Company adopted the provisions of ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 established a fair value hierarchy that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Investments measured and reported at fair value are classified and disclosed into one of the following categories based on the inputs as follows:

        Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access.

        Level 2 — Pricing inputs are other than quoted prices in active markets, including, but not limited to, quoted prices for similar assets and liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.

        Level 3 — Significant unobservable inputs are based on the best information available in the circumstances, to the extent observable inputs are not available, including the Company’s own assumptions used in determining the fair value of investments. Fair value for these investments are determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance, and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment.
       
     In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.
    
Assets and Liabilities Reported at Fair Value

The following table summarizes the Company’s equity investment in Terra Property Trust at fair value on a recurring basis as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
268,006,493

 
$
268,006,493


 
December 31, 2017
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
275,428,953

 
$
275,428,953



Changes in Level 3 investment for the nine months ended September 30, 2018 and 2017 were as follows:
 
 
Equity Investment in Terra Property Trust
 
 
Nine Months Ended September 30,
 
 
2018
 
2017
Beginning balance
 
$
275,428,953

 
$
290,419,317

Return of capital
 
(7,066,860
)
 
(14,012,486
)
Net change in unrealized (depreciation) appreciation on investment
 
(355,600
)
 
920,026

Ending balance
 
$
268,006,493

 
$
277,326,857

Net change in unrealized (depreciation) appreciation on investment for the period
   relating to those Level 3 assets that were still held by the Company
 
$
(355,600
)
 
$
920,026



Transfers between levels, if any, are recognized at the beginning of the period in which transfers occur. For the three and nine months ended September 30, 2018 and 2017, there were no transfers.

The Company estimated that its other financial assets and liabilities had fair values that approximated their carrying values at September 30, 2018 and December 31, 2017 due to their short-term nature.

Valuation Process for Fair Value Measurement

Market quotations are not readily available for the Company’s investment in Terra Property Trust, which is included in Level 3 of the fair value hierarchy. The fair value of the Company’s sole investment takes into consideration the fair value of Terra Property Trust’s assets and liabilities which are valued utilizing a yield approach, i.e. a discounted cash flow methodology. Terra Property Trust’s valuation considers fair value of each respective loan held for investment in the portfolio using an estimated market yield. In following this methodology, loans are evaluated individually, and management takes into account, in determining the risk-adjusted discount rate for each of the Company’s loans, relevant factors, including available current market data on applicable yields of comparable debt/preferred equity instruments; market credit spreads and yield curves; the investment’s yield; covenants of the investment, including prepayment provisions; the portfolio company’s ability to make payments, its net operating income, debt-service coverage ratio (“DSCR”); construction progress reports and construction budget analysis; the nature, quality, and realizable value of any collateral (and loan-to-value ratio); and the forces that influence the local markets in which the asset (the collateral) is purchased and sold, such as capitalization rates, occupancy rates, rental rates, replacement costs and the anticipated duration of each real estate-related loan.

The Manager designates a valuation committee to oversee the entire valuation process of the Company’s Level 3 investments. The valuation committee is comprised of members of the Manager’s senior management, deal and portfolio management teams, who meet on a quarterly basis, or more frequently as needed, to review the Company investments being valued as well as the inputs used in the proprietary valuation model. Valuations determined by the valuation committee are supported by pertinent data and, in addition to a proprietary valuation model, are based on market data, industry accepted third-party valuation models and discount rates or other methods the valuation committee deems to be appropriate.

The following tables summarize the valuation techniques and significant unobservable inputs used by the Company to value the Level 3 investments as of September 30, 2018 and December 31, 2017. The tables are not intended to be all-inclusive, but instead identify the significant unobservable inputs relevant to the determination of fair values.
 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
September 30, 2018
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
268,006,493

 
Discounted cash flow (1)
 
Discount rate (1)
 
7.30
%
16.00
%
14.35
%

 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
December 31, 2017
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
275,428,953

 
Discounted cash flow (1)
 
Discount rate (1)
 
2.56
%
16.00
%
13.50
%
_______________
(1)
Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities.
XML 21 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions
 9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Note 4. Related Party Transactions

Axar Transaction

On February 8, 2018, Terra Capital Partners caused (i) a new subsidiary of Terra Capital Partners, Terra REIT Advisors to become the external manager of Terra Property Trust, (ii) a new subsidiary of Terra Capital Partners, Terra Fund Advisors, to be admitted as the replacement manager of the Company and the equity interests in Terra Fund Advisors to be distributed to the equity owners of Terra Capital Partners on a pro rata basis and (iii) the equity interests in another subsidiary of Terra Capital Partners, Terra Income Advisors, which also serves as the external advisor to Terra Income Fund 6, Inc. (“Terra Fund 6”), to be distributed to the equity owners of Terra Capital Partners on a pro rata basis. After the completion of the above steps, an affiliate of Axar Capital Management L.P. (“Axar”) entered into an investment agreement with Terra Capital Partners and its affiliates (which is referred to collectively as the “Axar Transaction”), pursuant to which an affiliate of Axar acquired from the respective owners thereof: (i) a 49% economic interest in the Terra Fund Advisors; (ii) a 65.7% economic and voting interest in Terra Capital Partners (and thereby Terra REIT Advisors); and (iii) an initial 49% economic interest in Terra Income Advisors, with an agreement to acquire an additional 16.7% economic interest, and for the entire 65.7% stake to become a voting interest in Terra Income Advisors, subject to requisite approval by a majority of the outstanding voting securities (as defined by the Investment Company Act of 1940, as amended) of Terra Fund 6 of a new advisory and administrative services agreement between Terra Income Advisors and Terra Fund 6 and upon the satisfaction of certain other conditions.

Operating Agreement

The Company had an operating agreement, as amended, with Terra Income Advisors whereby Terra Income Advisors was responsible for the Company’s day-to-day operations. As part of the Axar Transaction, on February 8, 2018, Terra Income Advisors assigned all of its rights, title and interest in the Company pursuant to the Amended and Restated Limited Liability Company Agreement of the Company, dated January 1, 2016, to Terra Fund Advisors. The operating agreement, as amended, is scheduled to terminate on December 31, 2023 unless the Company is dissolved earlier. Starting January 1, 2016, the Company conducts all of its real estate lending business through Terra Property Trust. As such, Terra Property Trust is responsible for management compensation paid and operating expenses reimbursed to its manager pursuant to a management agreement with the manager.
    
Management Agreement

As part of the Axar Transaction, Terra Income Advisors, Terra Property Trust’s manager prior to February 8, 2018, assigned all of its rights, title and interest in and to its then current external management agreement with Terra Property Trust to Terra REIT Advisors and immediately thereafter, Terra REIT Advisors and Terra Property Trust amended and restated such management agreement. Such amended and restated management agreement has the same economic terms and is in all material respects otherwise on the same terms as the management agreement between Terra Income Advisors and Terra Property Trust in effect immediately prior to the Axar Transaction, except for the identity of the manager.

Dividend Income
    
As discussed in Note 3, for the three months ended September 30, 2018 and 2017, the Company received approximately $8.1 million and $13.1 million of distributions from Terra Property Trust, respectively, of which $2.6 million and $8.7 million was a return of capital, respectively. For the nine months ended September 30, 2018 and 2017, the Company received approximately $24.9 million and $29.7 million of distributions from Terra Property Trust, respectively, of which $7.1 million and $14.0 million was a return of capital, respectively.
XML 22 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Significant Risk Factors
 9 Months Ended
Sep. 30, 2018
Investments, All Other Investments [Abstract]  
Financial Instruments Disclosure [Text Block]
Note 5. Risks and Uncertainties

The Company’s investment in Terra Property Trust is highly illiquid and there is no assurance that the Company will achieve its investment objectives, including targeted returns. Terra Property Trust’s loans are highly illiquid. Due to the illiquidity of the loans, valuation of the loans may be difficult, as there generally will be no established markets for these loans. As the Company’s investment is carried at fair value with fair value changes recognized in the consolidated statements of operations, all changes in market conditions would directly affect the Company’s members’ capital.
XML 23 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
Note 6. Commitments and Contingencies

The Company enters into contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown; however, the Company has not had prior claims or losses pursuant to these contracts. The Manager has reviewed the Company’s existing contracts and expects the risk of loss to the Company to be remote.

The Company is not currently subject to any material legal proceedings and, to the Company’s knowledge, no material legal proceedings are threatened against the Company. From time to time, the Company may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Company’s rights under contracts with its portfolio companies. While the outcome of any legal proceedings cannot be predicted with certainty, the Company does not expect that any such proceedings will have a material adverse effect upon its financial condition or results of operations.
XML 24 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
Members' Capital
 9 Months Ended
Sep. 30, 2018
Limited Liability Company (LLC) Members' Equity [Abstract]  
Members' Capital
Note 7. Members’ Capital

As of September 30, 2018 and December 31, 2017, the Company had 6,643.4 units and 6,697.4 units outstanding, respectively, and the net asset value per unit was $40,340 and $41,143, respectively.

Capital Contributions

As of January 31, 2015, the offering period ended and the Company stopped accepting capital contributions.

Capital Distributions

At the discretion of the Manager, the Company may make distributions from net cash flow from operations, net disposition proceeds, or other cash available for distribution. Distributions are made to holders of Continuing Income Units (regular units of limited liability company interest in the Company) in proportion to their unit holdings until they receive a return of their initial Deemed Capital Contribution, as defined in the operating agreement, plus a preferred return ranging from 8.5% to 9.0% depending on the historical preferred return applicable to their Terra Fund units, after which time distributions are made 15% to the Manager which the Company referred to as the carried interest distribution, and 85% to the holders of Continuing Income Units. The preferred return applicable to the Continuing Income Units sold in the offering concurrent with the Merger is 8.5%.

In addition, holders of Termination Units (membership interest in the Company that were issued to members of Terra Funds 1 through 4 who chose to enter the liquidation phase of their investments) receive monthly distributions at a fixed rate of 6.0% per annum of the Unreturned Invested Capital (capital contributions less cumulative stated distributions of principal and less any amounts paid in redemption).

For the nine months ended September 30, 2018 and 2017, the Company made total distributions to non-manager members of $22.5 million and $23.1 million, respectively. For the nine months ended September 30, 2018 and 2017, the Company did not make any carried interest distributions to the Manager.
 
Capital Redemptions

In the Merger, members of Terra Funds 1 through 4 who wished to enter the liquidation phase of their investments chose to receive Termination Units as merger consideration. These Termination Units will be redeemed on the original expected liquidation dates of the funds. For the nine months ended September 30, 2018 and 2017, 3.6 and 7.9 Continuing Income Units, respectively, were redeemed for $0.1 million and $0.3 million, respectively, and 50.4 and 121.1Termination Units, respectively, were redeemed for $2.1 million and $5.0 million, respectively. As of September 30, 2018, there were no Termination Units outstanding.
    
At the discretion of the Manager, a reserve of 5% of cash from operations may be established in order to repurchase units from non-managing members. The Manager is under no obligation to redeem non-managing members’ units. As of September 30, 2018 and December 31, 2017, no such reserve was established.

Allocation of Income (Loss)

Profits and losses are allocated to the members in proportion to the units held in a given calendar year.

Member Units

Each membership interest through the original offering was offered for a price of $50,000 per unit. The membership interests in Terra Funds 1 through 4 were exchanged for units of the Company at a price of $43,410 per unit, which was the exchange value per unit of the Company on December 31, 2015, and the units in the offering concurrent with the Merger was offered at a price of $47,000 per unit. The following table provides a roll forward of the units outstanding of the Company for the nine months ended September 30, 2018 and 2017:
 
 
Nine Months Ended September 30, 2018
 
Nine Months Ended September 30, 2017
 
 
Managing
Member
 
Non-Managing Members
 
Total
 
Managing
Member
 
Non-Managing Members
 
Total
Units outstanding, beginning of period
 
—

 
6,697.4

 
6,697.4

 
—

 
6,826.5

 
6,826.5

Early redemption of Continuing
   Income Units
 
—

 
(3.6
)
 
(3.6
)
 
—

 
(7.9
)
 
(7.9
)
Termination Units redeemed
 
—

 
(50.4
)
 
(50.4
)
 
—

 
(121.1
)
 
(121.1
)
Units outstanding, end of period
 
—

 
6,643.4

 
6,643.4

 
—

 
6,697.5

 
6,697.5
XML 25 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
Financial Highlights
 9 Months Ended
Sep. 30, 2018
Investment Company, Financial Highlights [Abstract]  
Financial Highlights
Note 8. Financial Highlights

The financial highlights represent the per unit operating performance, return and ratios for the non-managing members’ class, taken as a whole, for the nine months ended September 30, 2018 and 2017. These financial highlights consist of the operating performance, the internal rate of return (“IRR”) since inception of the Company, and the expense and net investment income ratios which are annualized except for the non-recurring expenses.

The IRR, net of all fees and carried interest (if any), is computed based on actual dates of the cash inflows (capital contributions), outflows (capital distributions), and the ending capital at the end of the respective period (residual value) of the non-managing members’ capital account.

The following summarizes the Company’s financial highlights for the nine months ended September 30, 2018 and 2017:
 
Nine Months Ended September 30,
 
2018
 
2017
Per unit operating performance:
 
 
 
Net asset value per unit, beginning of period
$
41,143

 
$
42,423

Increase in members’ capital from operations (1):
 
 
 
Net investment income
2,622

 
2,240

Net change in unrealized (depreciation) appreciation on investment
(53
)
 
135

Total increase in members’ capital from operations
2,569

 
2,375

Distributions to member (2):
 
 
 
Capital distributions
(3,372
)
 
(3,401
)
Net decrease in members’ capital resulting from distributions
(3,372
)
 
(3,401
)
Capital share transactions:
 
 
 
Other (3)
—

 
8

Net increase in members’ capital resulting from capital share transactions
—

 
8

Net asset value per unit, end of period
$
40,340

 
$
41,405

 
 
 
 
Ratios to average net assets:
 
 
 
Expenses
0.17
%
 
0.22
%
Net investment income
8.61
%
 
7.13
%
 
 
 
 
IRR, beginning of period
6.26
%
 
5.43
%
IRR, end of period
6.70
%
 
6.07
%

_______________
(1)
The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were 6,670 units and 6,801 units for the nine months ended September 30, 2018 and 2017, respectively.
(2)
The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.
(3)
Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.
XML 26 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
 9 Months Ended
Sep. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
Note 9. Subsequent Events

Management has evaluated subsequent events through the date the consolidated financial statements were available to be issued. Management has determined that there are no material events that would require adjustment to, or disclosure in, the Company’s consolidated financial statements.
XML 27 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2018
Accounting Policies [Abstract]  
Basis of Presentation and Principles of Consolidation
Basis of Presentation and Principles of Consolidation

The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and include all of the Company’s accounts and those of its consolidated subsidiaries. All intercompany balances and transactions have been eliminated. The accompanying interim financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Articles 6 or 10 of Regulation S-X. The Company is an investment company, as defined under U.S. GAAP, and applies accounting and reporting guidance in accordance with Financial Accounting Standards Board (“FASB”) ASC Topic 946, Financial Services - Investment Companies.
Use of Estimates
Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of gains (losses), income and expenses during the reporting period. Actual results could significantly differ from those estimates. The most significant estimates inherent in the preparation of the Company’s consolidated financial statements is the valuation of investments (Note 3).
Equity Investment
Equity Investment in Terra Property Trust

Equity investment in Terra Property Trust represents the Company’s equity interest in Terra Property Trust, which was initially recorded at cost. Subsequent to the asset contribution, the equity investment is reported, at each reporting date, at fair value on the consolidated statements of financial condition. Change in fair value is reported in net change in unrealized appreciation or depreciation on investment on the consolidated statements of operations.
Revenue Recognition
Revenue Recognition

Dividend Income: Dividend income associated with the Company’s ownership of Terra Property Trust is recognized on the record date as declared by Terra Property Trust. Any excess of dividends over Terra Property Trust’s net income are recorded as return of capital.

Other Operating Income: All other income is recognized when earned.
Cash and Cash Equivalents
Cash and Cash Equivalents

The Company considers all highly liquid investments, with original maturities of ninety days or less when purchased, as cash equivalents. Cash and cash equivalents are exposed to concentrations of credit risk. The Company maintains all of its cash at financial institutions which, at times, may exceed the amount insured by the Federal Deposit Insurance Corporation.
Income Taxes
Income Taxes

No provision for U.S. federal and state income taxes has been made in the accompanying consolidated financial statements, as individual members are responsible for their proportionate share of the Company’s taxable income. The Company, however, may be liable for New York City Unincorporated Business Tax (the “NYC UBT”) and similar taxes of various other municipalities. New York City imposes the NYC UBT at a statutory rate of 4% on net income generated from ordinary business activities carried on in New York City. For the three and nine months ended September 30, 2018 and 2017, none of the Company’s income was subject to the NYC UBT.

Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the consolidated financial statements and tax basis assets and liabilities using enacted tax rates in effect for the year in which differences are expected to reverse. Such deferred tax assets and liabilities were not material.

The Company did not have any uncertain tax positions that met the recognition or measurement criteria of ASC 740-10-25, Income Taxes, nor did the Company have any unrecognized tax benefits as of the periods presented herein. The Company recognizes interest and penalties, if any, related to unrecognized tax liabilities as income tax expense in its consolidated statements of operations. For the three and nine months ended September 30, 2018 and 2017, the Company did not incur any interest or penalties. Although the Company files federal and state tax returns, its primary tax jurisdiction is federal. The Company’s inception-to-date federal tax years remain subject to examination by the Internal Revenue Service.
Fair Value Measurement
The Company adopted the provisions of ASC 820, Fair Value Measurement (“ASC 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 established a fair value hierarchy that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment, the characteristics specific to the investment, and the state of the marketplace (including the existence and transparency of transactions between market participants). Investments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Investments measured and reported at fair value are classified and disclosed into one of the following categories based on the inputs as follows:

        Level 1 — Quoted prices (unadjusted) in active markets for identical assets and liabilities that the Company has the ability to access.

        Level 2 — Pricing inputs are other than quoted prices in active markets, including, but not limited to, quoted prices for similar assets and liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market corroborated inputs.

        Level 3 — Significant unobservable inputs are based on the best information available in the circumstances, to the extent observable inputs are not available, including the Company’s own assumptions used in determining the fair value of investments. Fair value for these investments are determined using valuation methodologies that consider a range of factors, including but not limited to the price at which the investment was acquired, the nature of the investment, local market conditions, trading values on public exchanges for comparable securities, current and projected operating performance, and financing transactions subsequent to the acquisition of the investment. The inputs into the determination of fair value require significant management judgment.
       
     In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the investment.
New Accounting Pronouncements
Recent Accounting Pronouncement
    
In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for the goods or services. The Company adopted this standard on January 1, 2018 using the cumulative effect transition method. The adoption of ASU 2014-09 did not have any impact on its consolidated financial statements and disclosures.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 retains many current requirements for the classification and measurement of financial instruments; however, it significantly revises an entity’s accounting related to (i) the classification and measurement of investments in equity securities and (ii) the presentation of certain fair value changes for financial liabilities measured at fair value. ASU 2016-01 also amends certain disclosure requirements associated with the fair value of financial instruments. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-01 did not have any impact on its consolidated financial statements and disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”). ASU 2016-02 outlines a new model for accounting by lessees, whereby their rights and obligations under substantially all leases, existing and new, would be capitalized and recorded on the balance sheet. For lessors, however, the accounting remains largely unchanged from the current model, with the distinction between operating and financing leases retained, but updated to align with certain changes to the lessee model and the new revenue recognition standard. The new standard also replaces existing sale-leaseback guidance with a new model applicable to both lessees and lessors. Additionally, the new standard requires extensive quantitative and qualitative disclosures. ASU 2016-02 is effective for U.S. GAAP public companies for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application will be permitted for all entities. The new standard must be adopted using a modified retrospective transition of the new guidance and provides for certain practical expedients. Transition will require application of the new model at the beginning of the earliest comparative period presented. This ASU is not expected to have any impact on the Company’s consolidated financial statements and disclosures as the Company does not have any lease arrangements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, a Consensus of the FASB’s Emerging Issues Task Force (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain transactions are classified in the statement of cash flows. ASU 2016-15 is effective for annual and interim periods beginning after December 15, 2017. The guidance requires application using a retrospective transition method. The Company adopted this standard on January 1, 2018. The adoption of ASU 2016-15 did not have any impact on its consolidated financial statements and disclosures.

In June 2018, the Securities and Exchange Commission (the “SEC”) adopted amendments that raise the thresholds in the smaller reporting company definition. Under the new definition, generally, a company qualifies as a “smaller reporting company” if: (i) it has public float of less than $250 million; or (ii) it has less than $100 million in annual revenues and no public float or public float of less than $700 million. These amendments did not have any impact on the Company.
    
In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure framework — Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). The objective of ASU 2018-13 is to improve the effectiveness of disclosures in the notes to financial statements by facilitating clear communication of information required by U.S. GAAP. The amendments in ASU 2018-13 added, removed and modified certain fair value measurement disclosure requirements. ASU 2018-13 is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted upon issuance of ASU 2018-13. The Company does not expect the adoption of ASU 2018-13 to have a material impact on its consolidated financial statements and disclosures.

In August 2018, the SEC adopted a final rule that eliminates or amends disclosure requirements that have become duplicative, overlapping, or outdated in light of other SEC disclosure requirements, U.S. GAAP, or changes in the information environment (the “Final Rule”). The Final Rule is intended to simplify and update the disclosure of information to investors and reduce compliance burdens for companies, without significantly altering the total mix of information available to investors. Among other items, the Final Rule requires registrants to include in their interim financial statements a reconciliation of changes in net assets or stockholders’ equity in the notes or as a separate statement. The Final Rule is effective for all filings made on or after November 5, 2018; however, the SEC would not object if a filer’s first presentation of the changes in net assets or stockholders' equity was included in its Form 10-Q for the quarter that begins after the effective date of the Final Rule. The Company intends to adopt the Final Rule in the first quarter of 2019. The adoption of the Final Rule is not expected to have a material impact on the Company’s consolidated financial statements and disclosures.
XML 28 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Tables) - Terra Property Trust
 9 Months Ended
Sep. 30, 2018
Investments  
Summary Investment Holdings
The following table presents a summary of the Company’s investment at September 30, 2018 and December 31, 2017:
 
 
September 30, 2018
 
December 31, 2017
Investment
 
Cost
 
Fair Value
 
% of Members’ Capital
 
Cost
 
Fair Value
 
% of Members’ Capital
14,912,990 common shares
   of Terra Property Trust, Inc.
 
$
268,335,112

 
$
268,006,493

 
100.0
%
 
$
275,401,972

 
$
275,428,953

 
100.0
%
Summary of financial information
The following tables present the summarized financial information of Terra Property Trust:
 
 
September 30, 2018
 
December 31, 2017
Carrying value of loans held for investment
 
$
339,615,579

 
$
357,093,730

Real estate owned, net
 
56,756,051

 
—

Other assets
 
41,064,173

 
51,899,445

Total assets
 
437,435,803

 
408,993,175

Mortgage loan payable and obligations under participation agreements
 
(145,573,187
)
 
(110,175,525
)
Accounts payable, accrued expenses and other liabilities
 
(23,431,489
)
 
(23,307,944
)
Total liabilities
 
(169,004,676
)
 
(133,483,469
)
Stockholder’s equity
 
$
268,431,127

 
$
275,509,706

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30, 2018
 
 
2018
 
2017
 
2018
 
2017
Revenues
 
$
12,788,205

 
$
9,651,677

 
$
35,751,197

 
$
28,197,274

Expenses
 
(7,300,400
)
 
(4,598,716
)
 
(17,921,479
)
 
(12,379,894
)
Realized gain on investments
 
—

 
(604,169
)
 
—

 
(114,209
)
Net income
 
$
5,487,805

 
$
4,448,792

 
$
17,829,718

 
$
15,703,171
Summary of Company's equity investment at fair value on a recurring basis
The following table summarizes the Company’s equity investment in Terra Property Trust at fair value on a recurring basis as of September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
268,006,493

 
$
268,006,493


 
December 31, 2017
 
Fair Value Measurements
 
Level 1
 
Level 2
 
Level 3
 
Total
Investment:
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
$
—

 
$
—

 
$
275,428,953

 
$
275,428,953
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Changes in Level 3 investment for the nine months ended September 30, 2018 and 2017 were as follows:
 
 
Equity Investment in Terra Property Trust
 
 
Nine Months Ended September 30,
 
 
2018
 
2017
Beginning balance
 
$
275,428,953

 
$
290,419,317

Return of capital
 
(7,066,860
)
 
(14,012,486
)
Net change in unrealized (depreciation) appreciation on investment
 
(355,600
)
 
920,026

Ending balance
 
$
268,006,493

 
$
277,326,857

Net change in unrealized (depreciation) appreciation on investment for the period
   relating to those Level 3 assets that were still held by the Company
 
$
(355,600
)
 
$
920,026
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques
The following tables summarize the valuation techniques and significant unobservable inputs used by the Company to value the Level 3 investments as of September 30, 2018 and December 31, 2017. The tables are not intended to be all-inclusive, but instead identify the significant unobservable inputs relevant to the determination of fair values.
 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
September 30, 2018
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
268,006,493

 
Discounted cash flow (1)
 
Discount rate (1)
 
7.30
%
16.00
%
14.35
%

 
 
Fair Value
Primary Valuation Technique
 
Unobservable Inputs
 
December 31, 2017
Asset Category
 
 
 
Minimum
Maximum
Weighted Average
Assets:
 
 
 
 
 
 
 
 
 
 
Equity investment in Terra Property Trust
 
$
275,428,953

 
Discounted cash flow (1)
 
Discount rate (1)
 
2.56
%
16.00
%
13.50
%
_______________
(1)
Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities.
XML 29 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
Members' Capital (Tables)
 9 Months Ended
Sep. 30, 2018
Limited Liability Company (LLC) Members' Equity [Abstract]  
Member Capital Termination Units Outstanding
Termination Units outstanding.
Schedule of Capital Units
Each membership interest through the original offering was offered for a price of $50,000 per unit. The membership interests in Terra Funds 1 through 4 were exchanged for units of the Company at a price of $43,410 per unit, which was the exchange value per unit of the Company on December 31, 2015, and the units in the offering concurrent with the Merger was offered at a price of $47,000 per unit. The following table provides a roll forward of the units outstanding of the Company for the nine months ended September 30, 2018 and 2017:
 
 
Nine Months Ended September 30, 2018
 
Nine Months Ended September 30, 2017
 
 
Managing
Member
 
Non-Managing Members
 
Total
 
Managing
Member
 
Non-Managing Members
 
Total
Units outstanding, beginning of period
 
—

 
6,697.4

 
6,697.4

 
—

 
6,826.5

 
6,826.5

Early redemption of Continuing
   Income Units
 
—

 
(3.6
)
 
(3.6
)
 
—

 
(7.9
)
 
(7.9
)
Termination Units redeemed
 
—

 
(50.4
)
 
(50.4
)
 
—

 
(121.1
)
 
(121.1
)
Units outstanding, end of period
 
—

 
6,643.4

 
6,643.4

 
—

 
6,697.5

 
6,697.5
XML 30 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
Financial Highlights (Tables)
 9 Months Ended
Sep. 30, 2018
Investment Company, Financial Highlights [Abstract]  
Financial Highlights
The following summarizes the Company’s financial highlights for the nine months ended September 30, 2018 and 2017:
 
Nine Months Ended September 30,
 
2018
 
2017
Per unit operating performance:
 
 
 
Net asset value per unit, beginning of period
$
41,143

 
$
42,423

Increase in members’ capital from operations (1):
 
 
 
Net investment income
2,622

 
2,240

Net change in unrealized (depreciation) appreciation on investment
(53
)
 
135

Total increase in members’ capital from operations
2,569

 
2,375

Distributions to member (2):
 
 
 
Capital distributions
(3,372
)
 
(3,401
)
Net decrease in members’ capital resulting from distributions
(3,372
)
 
(3,401
)
Capital share transactions:
 
 
 
Other (3)
—

 
8

Net increase in members’ capital resulting from capital share transactions
—

 
8

Net asset value per unit, end of period
$
40,340

 
$
41,405

 
 
 
 
Ratios to average net assets:
 
 
 
Expenses
0.17
%
 
0.22
%
Net investment income
8.61
%
 
7.13
%
 
 
 
 
IRR, beginning of period
6.26
%
 
5.43
%
IRR, end of period
6.70
%
 
6.07
%

_______________
(1)
The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were 6,670 units and 6,801 units for the nine months ended September 30, 2018 and 2017, respectively.
(2)
The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.
(3)
Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.
XML 31 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business (Details)
$ in Millions
 9 Months Ended
Sep. 30, 2018
USD ($)
Number_of_Funds
Extension
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]  
Operation date Aug. 08, 2013
LLC formation state Delaware
LLC exit date Dec. 31, 2023
Number of investment funds | Number_of_Funds 5
Number of extension | Extension 2
Minimum  
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]  
Investment in real estate loans $ 3
Maximum  
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]  
Investment in real estate loans $ 50
XML 32 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Narratives) (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Investments [Abstract]        
Proceeds from Equity Method Investment, Distribution $ 8,100,000 $ 13,100,000 $ 24,900,000 $ 29,700,000
Return of capital on investment $ 2,600,000 $ 8,700,000 $ 7,066,860 $ 14,012,486
XML 33 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Summary of the Investments) (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Investments          
Proceeds from Equity Method Investment, Distribution $ 8,100,000 $ 13,100,000 $ 24,900,000 $ 29,700,000  
Common Stock, Shares, Outstanding 14,912,990   14,912,990   14,912,990
Cost $ 268,335,112   $ 268,335,112   $ 275,401,972
Fair Value $ 268,006,493   $ 268,006,493   $ 275,428,953
Terra Property Trust | Controlled          
Investments          
Common Stock, Shares, Outstanding 14,912,990   14,912,990   14,912,990
Cost $ 268,335,112   $ 268,335,112   $ 275,401,972
Fair Value $ 268,006,493   $ 268,006,493   $ 275,428,953
% of Members Capital 100.00%   100.00%   100.00%
XML 34 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Summary of Financial Information of Terra Property Trust) (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Investment          
Proceeds from Equity Method Investment, Distribution $ 8,100,000 $ 13,100,000 $ 24,900,000 $ 29,700,000  
Return of capital on investment 2,600,000 $ 8,700,000 7,066,860 $ 14,012,486  
Terra Property Trust          
Investment          
Carrying value of investments 339,615,579   339,615,579   $ 357,093,730
Real estate owned, net 56,756,051   56,756,051   0
Other assets 41,064,173   41,064,173   51,899,445
Total assets 437,435,803   437,435,803   408,993,175
Mortgage loan payable and obligations under participation agreements (145,573,187)   (145,573,187)   (110,175,525)
Accounts payable, accrued expenses and other liabilities (23,431,489)   (23,431,489)   (23,307,944)
Total liabilities (169,004,676)   (169,004,676)   (133,483,469)
Stockholder’s equity $ 268,431,127   $ 268,431,127   $ 275,509,706
XML 35 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Summary of Financial Information 2) (Details) - Terra Property Trust - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Investments        
Revenues $ 12,788,205 $ 9,651,677 $ 35,751,197 $ 28,197,274
Expenses (7,300,400) (4,598,716) (17,921,479) (12,379,894)
Loss on sale of investments 0 (604,169) 0 (114,209)
Net income $ 5,487,805 $ 4,448,792 $ 17,829,718 $ 15,703,171
XML 36 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Equity Investment at Fair Value on a recurring basis) (Details) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 268,006,493 $ 275,428,953
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 0 0
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 268,006,493 $ 275,428,953
XML 37 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments and Fair Value (Changes in Level 3) (Details) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Return of capital $ (2,600,000) $ (8,700,000) $ (7,066,860) $ (14,012,486)  
Net change in unrealized depreciation or appreciation on investment $ (179,846) 428,032 $ (355,600) 920,026  
Common Stock, Shares, Outstanding 14,912,990   14,912,990   14,912,990
Level 3          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Beginning balance     $ 275,428,953 290,419,317 $ 290,419,317
Return of capital     (7,066,860) (14,012,486)  
Net change in unrealized depreciation or appreciation on investment     (355,600) 920,026  
Ending balance $ 268,006,493 $ 277,326,857 268,006,493 277,326,857 $ 275,428,953
Net Change in unrealized (depreciation) appreciation on investment     $ (355,600) $ 920,026  
Fair Value, Level 3 Transfers in, Description None None None None  
Fair Value, Level 3 Transfers out, Description None None None None  
Weighted Average | Level 3          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Discount rate [1]     14.35%   13.50%
Maximum | Level 3          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Discount rate [1]     16.00%   16.00%
Minimum | Level 3          
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]          
Discount rate [1]         2.56%
[1] Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities.
XML 38 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investment and Fair Value (Valuation techniques and significant unobservable inputs) (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Fair Value $ 268,006,493 $ 275,428,953
Level 3    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Fair Value $ 268,006,493 $ 275,428,953
Primary Valuation Techniques [1] Discounted cash flow (1) Discounted cash flow (1)
Level 3 | Minimum    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Discount rate [1]   2.56%
Level 3 | Maximum    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Discount rate [1] 16.00% 16.00%
Level 3 | Weighted Average    
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]    
Discount rate [1] 14.35% 13.50%
[1] Discounted cash flows and discount rates applied to Terra Property Trust’s assets and liabilities.
XML 39 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
Related Party Transactions (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Investments        
Proceeds from Equity Method Investment, Distribution $ 8,100,000 $ 13,100,000 $ 24,900,000 $ 29,700,000
Proceeds from Equity Method Investment, Distribution, Return of Capital $ 2,600,000 $ 8,700,000 $ 7,066,860 $ 14,012,486
LLC exit date     Dec. 31, 2023  
Terra Fund Advisors        
Investments        
Ownership Interest     49.00%  
Terra Capital Partners        
Investments        
Ownership Interest     65.70%  
Terra REIT Advisors        
Investments        
Ownership Interest     65.70%  
Terra Income Advisors | Initial Acquisition        
Investments        
Ownership Interest     49.00%  
Terra Income Advisors | Additional Acquisition        
Investments        
Ownership Interest     16.70%  
Terra Income Advisors | Total        
Investments        
Ownership Interest     65.70%  
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
Members' Capital Members' Capital (Narratives) (Details) - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Members Capital        
Common Unit, Outstanding 6,643.4 6,697.5 6,697.4 6,826.5
Net Asset Value Per Share $ 40,340   $ 41,143  
Capital distributions $ 22,497,394 $ 23,127,464    
Redemption value $ 2,188,790 $ 5,279,768    
Minimum        
Members Capital        
Percent of distribution made to members depends on the historical preferred return applicale to Terra Fund units 8.50% 8.50%    
Maximum        
Members Capital        
Percent of distribution made to members depends on the historical preferred return applicale to Terra Fund units 9.00% 9.00%    
Continuing Income Units Holder        
Members Capital        
Member units redemption 3.6 7.9    
Distribution Percent 85.00% 85.00%    
Shares Issued, Price Per Share $ 43,410      
Termination Units Holder        
Members Capital        
Member units redemption 50.4 121.1    
Percent of distribution made to members depends on the historical preferred return applicale to Terra Fund units 6.00% 6.00%    
Manager        
Members Capital        
Distribution Percent 15.00% 15.00%    
Non-managing Member        
Members Capital        
Cash Reserve For Member Units Repurchase $ 0   $ 0  
Percent Of Cash Repurchase Capital Units 5.00%   5.00%  
Rights Offering        
Members Capital        
Shares Issued, Price Per Share $ 47,000      
Rights Offering | Continuing Income Units Holder        
Members Capital        
Percent of distribution made to members depends on the historical preferred return applicale to Terra Fund units 8.50% 8.50%    
Initial Offering        
Members Capital        
Shares Issued, Price Per Share $ 50,000      
Non-managing Members        
Members Capital        
Capital distributions $ 22,497,394 $ 23,127,464    
Managing Member        
Members Capital        
Capital distributions $ 0 $ 0    
Non-managing Member        
Members Capital        
Common Unit, Outstanding 6,643.4 6,697.5 6,697.4 6,826.5
Non-managing Member | Continuing Income Units Holder        
Members Capital        
Member units redemption 3.6 7.9    
Redemption value $ 130,000 $ 260,000    
Non-managing Member | Termination Units Holder        
Members Capital        
Member units redemption 50.4 121.1    
Redemption value $ 2,100,000 $ 5,040,000    
XML 41 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Members' Capital Members' Capital (Members' Units Outstanding) (Details) - shares
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Members Capital    
Units outstanding, beginning of period 6,697.4 6,826.5
Units outstanding, end of period 6,643.4 6,697.5
Managing Member    
Members Capital    
Units outstanding, beginning of period 0.0 0.0
Units outstanding, end of period 0.0 0.0
Non-managing Member    
Members Capital    
Units outstanding, beginning of period 6,697.4 6,826.5
Units outstanding, end of period 6,643.4 6,697.5
Continuing Income Units Holder    
Members Capital    
Member units redemption (3.6) (7.9)
Continuing Income Units Holder | Managing Member    
Members Capital    
Member units redemption (0.0) (0.0)
Continuing Income Units Holder | Non-managing Member    
Members Capital    
Member units redemption (3.6) (7.9)
Termination Units Holder    
Members Capital    
Member units redemption (50.4) (121.1)
Termination Units Holder | Managing Member    
Members Capital    
Member units redemption (0.0) (0.0)
Termination Units Holder | Non-managing Member    
Members Capital    
Member units redemption (50.4) (121.1)
XML 42 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
Financial Highlights (Details) - $ / shares
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Investment Company, Financial Highlights [Roll Forward]        
Net asset value per unit $ 41,143      
Capital share transactions:        
Net asset value per unit 40,340   $ 41,143  
Non-managing Member Class        
Investment Company, Financial Highlights [Roll Forward]        
Net asset value per unit 41,143 $ 42,423 42,423  
Increase in members’ capital from operations (1):        
Net investment income [1] 2,622 2,240    
Net change in unrealized (depreciation) appreciation on investment [1] (53) 135    
Total increase in members’ capital from operations [1] 2,569 2,375    
Distributions to member (2):        
Capital distributions [2] (3,372) (3,401)    
Net decrease in members’ capital resulting from distributions [2] (3,372) (3,401)    
Capital share transactions:        
Other (3) [3] 0 8    
Net increase in members’ capital resulting from capital share transactions [3] 0 8    
Net asset value per unit $ 40,340 $ 41,405 $ 41,143 $ 42,423
Ratios to average net assets:        
Expenses 0.17% 0.22%    
Net investment income 8.61% 7.13%    
Internal Rate of Return since Inception 6.70% 6.07% 6.26% 5.43%
Weighted Average Membership Units Outstanding 6,670 6,801    
[1] The per unit data was derived by using the weighted average units outstanding during the applicable periods, which were 6,670 units and 6,801 units for the nine months ended September 30, 2018 and 2017, respectively.
[2] The per unit data for distributions reflects the actual amount of distributions paid per share during the periods.
[3] Represents the impact of the different unit amounts used in calculating per unit data as a result of calculating certain per unit data based upon the weighted average units outstanding during the period and certain per unit data based on the units outstanding as of a period end or transaction date.
EXCEL 43 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 44 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 45 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 47 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 279 134 1 true 112 0 false 6 false false R1.htm 0001000 - Document - Document Entity Information Document Sheet http://terrafund5.com/role/DocumentEntityInformationDocument Document Entity Information Document Cover 1 false false R2.htm 1001000 - Statement - Consolidated Statements of Financial Condition Sheet http://terrafund5.com/role/ConsolidatedStatementsOfFinancialCondition Consolidated Statements of Financial Condition Statements 2 false false R3.htm 1001501 - Statement - Consolidated Statements of Financial Condition (Parentheticals) Sheet http://terrafund5.com/role/ConsolidatedStatementsOfFinancialConditionParentheticals Consolidated Statements of Financial Condition (Parentheticals) Statements 3 false false R4.htm 1003000 - Statement - Consolidated Statements of Operations Sheet http://terrafund5.com/role/ConsolidatedStatementsOfOperations Consolidated Statements of Operations Statements 4 false false R5.htm 1004000 - Statement - Consolidated Statements of Changes in Members' Capital Sheet http://terrafund5.com/role/ConsolidatedStatementsOfChangesInMembersCapital Consolidated Statements of Changes in Members' Capital Statements 5 false false R6.htm 1006000 - Statement - Consolidated Statements of Cash Flows Sheet http://terrafund5.com/role/ConsolidatedStatementsOfCashFlows Consolidated Statements of Cash Flows Statements 6 false false R7.htm 1008000 - Statement - Consolidated Scheules of Investments Statement Sheet http://terrafund5.com/role/ConsolidatedScheulesOfInvestmentsStatement Consolidated Scheules of Investments Statement Statements 7 false false R8.htm 2101100 - Disclosure - Business Sheet http://terrafund5.com/role/Business Business Notes 8 false false R9.htm 2104100 - Disclosure - Summary of Significant Accounting Policies Sheet http://terrafund5.com/role/SummaryOfSignificantAccountingPolicies Summary of Significant Accounting Policies Notes 9 false false R10.htm 2119100 - Disclosure - Investment and Fair Value Sheet http://terrafund5.com/role/InvestmentAndFairValue Investment and Fair Value Notes 10 false false R11.htm 2122100 - Disclosure - Related Party Transactions Sheet http://terrafund5.com/role/RelatedPartyTransactions Related Party Transactions Notes 11 false false R12.htm 2125100 - Disclosure - Significant Risk Factors Sheet http://terrafund5.com/role/SignificantRiskFactors Significant Risk Factors Notes 12 false false R13.htm 2126100 - Disclosure - Commitments and Contingencies Sheet http://terrafund5.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 13 false false R14.htm 2127100 - Disclosure - Members' Capital Sheet http://terrafund5.com/role/MembersCapital Members' Capital Notes 14 false false R15.htm 2129100 - Disclosure - Financial Highlights Sheet http://terrafund5.com/role/FinancialHighlights Financial Highlights Notes 15 false false R16.htm 2130100 - Disclosure - Subsequent Events Sheet http://terrafund5.com/role/SubsequentEvents Subsequent Events Notes 16 false false R17.htm 2204201 - Disclosure - Summary of Significant Accounting Policies (Policies) Sheet http://terrafund5.com/role/SummaryOfSignificantAccountingPoliciesPolicies Summary of Significant Accounting Policies (Policies) Policies http://terrafund5.com/role/SummaryOfSignificantAccountingPolicies 17 false false R18.htm 2319301 - Disclosure - Investment and Fair Value (Tables) Sheet http://terrafund5.com/role/InvestmentAndFairValueTables Investment and Fair Value (Tables) Tables http://terrafund5.com/role/InvestmentAndFairValue 18 false false R19.htm 2327301 - Disclosure - Members' Capital (Tables) Sheet http://terrafund5.com/role/MembersCapitalTables Members' Capital (Tables) Tables http://terrafund5.com/role/MembersCapital 19 false false R20.htm 2329301 - Disclosure - Financial Highlights (Tables) Sheet http://terrafund5.com/role/FinancialHighlightsTables Financial Highlights (Tables) Tables http://terrafund5.com/role/FinancialHighlights 20 false false R21.htm 2401402 - Disclosure - Business (Details) Sheet http://terrafund5.com/role/BusinessDetails Business (Details) Details http://terrafund5.com/role/Business 21 false false R22.htm 2419402 - Disclosure - Investment and Fair Value (Narratives) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueNarrativesDetails Investment and Fair Value (Narratives) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 22 false false R23.htm 2419403 - Disclosure - Investment and Fair Value (Summary of the Investments) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueSummaryOfInvestmentsDetails Investment and Fair Value (Summary of the Investments) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 23 false false R24.htm 2419404 - Disclosure - Investment and Fair Value (Summary of Financial Information of Terra Property Trust) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueSummaryOfFinancialInformationOfTerraPropertyTrustDetails Investment and Fair Value (Summary of Financial Information of Terra Property Trust) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 24 false false R25.htm 2419405 - Disclosure - Investment and Fair Value (Summary of Financial Information 2) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueSummaryOfFinancialInformation2Details Investment and Fair Value (Summary of Financial Information 2) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 25 false false R26.htm 2419406 - Disclosure - Investment and Fair Value (Equity Investment at Fair Value on a recurring basis) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueEquityInvestmentAtFairValueOnRecurringBasisDetails Investment and Fair Value (Equity Investment at Fair Value on a recurring basis) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 26 false false R27.htm 2419407 - Disclosure - Investments and Fair Value (Changes in Level 3) (Details) Sheet http://terrafund5.com/role/InvestmentsAndFairValueChangesInLevel3Details Investments and Fair Value (Changes in Level 3) (Details) Details 27 false false R28.htm 2419408 - Disclosure - Investment and Fair Value (Valuation techniques and significant unobservable inputs) (Details) Sheet http://terrafund5.com/role/InvestmentAndFairValueValuationTechniquesAndSignificantUnobservableInputsDetails Investment and Fair Value (Valuation techniques and significant unobservable inputs) (Details) Details http://terrafund5.com/role/InvestmentAndFairValueTables 28 false false R29.htm 2422402 - Disclosure - Related Party Transactions (Details) Sheet http://terrafund5.com/role/RelatedPartyTransactionsDetails Related Party Transactions (Details) Details http://terrafund5.com/role/RelatedPartyTransactions 29 false false R30.htm 2427403 - Disclosure - Members' Capital Members' Capital (Narratives) (Details) Sheet http://terrafund5.com/role/MembersCapitalMembersCapitalNarrativesDetails Members' Capital Members' Capital (Narratives) (Details) Details 30 false false R31.htm 2427404 - Disclosure - Members' Capital Members' Capital (Members' Units Outstanding) (Details) Sheet http://terrafund5.com/role/MembersCapitalMembersCapitalMembersUnitsOutstandingDetails Members' Capital Members' Capital (Members' Units Outstanding) (Details) Details 31 false false R32.htm 2429402 - Disclosure - Financial Highlights (Details) Sheet http://terrafund5.com/role/FinancialHighlightsDetails Financial Highlights (Details) Details http://terrafund5.com/role/FinancialHighlightsTables 32 false false All Reports Book All Reports tsif-20180930.xml tsif-20180930.xsd tsif-20180930_cal.xml tsif-20180930_def.xml tsif-20180930_lab.xml tsif-20180930_pre.xml http://xbrl.sec.gov/dei/2014-01-31 http://fasb.org/us-gaap/2017-01-31 http://xbrl.sec.gov/invest/2013-01-31 http://xbrl.sec.gov/stpr/2011-01-31 http://xbrl.sec.gov/country/2017-01-31 true true ZIP 49 0001581874-18-000015-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001581874-18-000015-xbrl.zip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

  •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end