1 | 17 | 2012
TerraCap Opens Second Real Estate Opportunity Fund
TerraCap Management Corp today announces the first
scheduled closing of its second real estate fund, TerraCap Partners II LP. The fund began raising capital for this fund during the summer of 2011 and has a target equity raise of $200 million.
11 | 14 | 2011
Bonita Springs City Council gives OK for homes at Palmira
The News-Press
Palmira managing partner Steve Hagenbuckle said building store and office buildings would not be a smart economic or financial decision because they'd likely stay vacant.
10 | 18 | 2011
More Homes Likely at Palmira in East Bonita Springs
The News-Press
“We prefer that it’s market-driven as opposed to something the organization is forced to do without the demand. Otherwise, we’d have more vacant commercial buildings,” said Palmira managing partner Steve Hagenbuckle.
07 | 22 | 2011
TerraCap Partners buys Palmira Village Land
Gulf Coast Business Review
The vacant property is entitled to serve as a town center mixed-used development for the surrounding Palmira Golf & Country Club community. The land has vested concurrencies for up to 275 multifamily units and up to 100,000 square feet of commercial space. The real estate investment firm considers the property a long-term hold, says TerraCap Partners’ general partner W. Stephen Hagenbuckle. “We’re inventorying it for the moment,” Hagenbuckle says. “It’s a great site. The Palmira [Golf &] Country Club is a fantastic community. This is the last developable piece in Palmira.” TerraCap partners recently purchased a similar 26.31 acres of vacant land north of Emerson Square Boulevard near Alico Road and U.S. 41 in Fort Myers for $1.7 million.
03 | 23 | 2011
Naples Rises From Florida Housing Swamp as Wealthy Buyers Return
Bloomberg
Land prices are rising as the real estate recovery takes hold, according to Steve Hagenbuckle, managing principal of real estate investment firm TerraCap Management Corp in Cape Coral, Florida. Undeveloped land with zoning approvals in Estero, north of Naples, sold to a public builder he declined to name for $40,000 per quarter-acre lot. Eight months ago, Toll Brothers Inc. (TOL) bought similar land for
$10,000, he said.
02 | 02 | 2011
TerraCap Fund Oversubscribed
Press King
Naples, FL: TerraCap Management Corp today announces the final closing of its first real estate fund, TerraCap Partners LP. The private placement was oversubsccribed by 5%.
12 | 14 | 2010
Builders say they are ready to be optimistic about the residential market again
The News Press
Steve Hagenbuckle, president of Terra Cap Management Corp., said the Cape Coral-based company has purchased 12 properties in the past 18 months totaling about 512 acres and about 2,400 residential units or lots.
08 | 26 | 2010
US-Häusermarkt bröckelt und bröckelt
Börsen-Zeitung
Derzeit würden in den USA jährlich nur noch etwa 550000 neue Häuser gebaut, gut ein Drittel des Durchschnittswerts der vergangenen 40 Jahre, sagte Stephen Hagenbuckle, Managing Principal von TerraCap, der Börsen-Zeitung. Diesen 550000 neuen Immobilien stünden etwa 350000 Objekte gegenüber, die abgerissen oder anderweitig vernichtet würden.
08 | 24 | 2010
Stocks Drop After Sharp Fall in July Home Sales
Associated Press
"Home sales have tumbled since a home buyer tax credit expired at the end of April, despite mortgage rates falling to record lows. Banks have also been selective in giving loans, which could be freezing out many potential buyers."
07 | 05 | 2010
Investors hope for some cheer from earnings
Financial Times
Companies should not have trouble meeting their forecasts, said Steve Hagenbuckle, managing partner at investment company TerraCap Partners, but that was largely because they had been successful in revising expectations to lower levels. “Many set themselves up to overachieve,” Mr Hagenbuckle said. “They should be able to make their numbers through a combination of cost-cutting, living off inventory and efficiency gains.”
05 | 21 | 2010
Eurozone woes to make for erratic market
Reuters
"With so much uncertainty in the bigger global picture, good housing indicators can be seen as an instant trigger to a market rally next week," said Steven Hagenbuckle, founder of TerraCap Partners, a private equity fund based in New York and Florida.
04 | 16 | 2010
Goldman charge derails Wall St win streak
Financial Times
“After the JPMorgan results this week, it’s hard to be a shining star,” said Steve Hagenbuckle, managing partner at New York-based TerraCap Partners.
02 | 08 | 2010
CIT Group names former Merrill Lynch CEO John Thain to lead as chairman and CEO
Associated Press
He's taking on an extremely challenging situation," said Steve Hagenbuckle, managing principle of private equity fund TerraCap Partners. "If he survives and rights the ship, then I think his legacy has been written. It's a perfect storm to come out a hero or come out a failure."
11 | 04 | 2009
GMAC Financial Services 3Q loss narrows
Associated Press
"Until they remedy the ResCap area, stop the bleeding there, they are going to have challenges," said Steve Hagenbuckle, managing principal at TerraCap Partners, a private-equity fund specializing in distressed real estate.
10 | 27 | 2009
Warding off defaults a priority for commercial sector
The Real Deal
Steve Hagenbuckle, founder and managing principal of TerraCap Partners, a real estate private equity fund based in Cape Coral, said banks should do everything possible to work out the loan with the property owner.
10 | 15 | 2009
Goldman Sachs profit tops $3B on strong trading
Associated Press
Goldman's image as one of the top players on Wall Street has helped it attract more business throughout the downturn, said Stephen Hagenbuckle, a managing principal of the private equity fund TerraCap Partners. Goldman "continues to get increased market share," Hagenbuckle said. "Initially it was a lack of competitors, but more recently it's been their performance."
09 | 30 | 2009
Stocks Tumble on Drop in Manufacturing Activity
Associated Press
Steve Hagenbuckle, managing principal for TerraCap Partners in New York, expects that corporate earnings will likely exceed expectations again in the third quarter and help boost the market."The corporate numbers will continue to be met or exceeded so I think we'll continue to run up," he said. "I don't think this is a major pullback."
09 | 25 | 2009
KB Home 3Q Loss Narrows; Shares Tumble
The Wall Street Journal
Housing gross margin improved to 11.1% in the third quarter, from 3.9% a year earlier, a sign of increased efficiency. "That's key," said Steve Hagenbuckle, managing principal of TerraCap Partners, a real-estate private-equity fund. "They're sticking to just a few basic floor plans that make sense and they're limiting features and finishes, which are both high-cost areas."
09 | 18 | 2009
Commercial Market Seeks New Lending Path
The Real Deal
Steve Hagenbuckle, founder and managing principal of TerraCap Partners, a real estate private equity fund based in Cape Coral, doesn't foresee any new instruments coming down the pike any time soon.
9 | 15| 2009
US Home Starts in August Seen Up at 600,000
Reuters
Inventories of existing homes and new construction will be at all-time lows, Hagenbuckle said. "Basically we are looking at a shortage of housing in the United States starting in Q3
and Q4 2010."
9 | 04 | 2009
Hovnanian: Done with Fort Myers?
The Wall Street Journal
Sales are picking up dramatically cutting inventory, as investors and first-time buyers take advantage of the lower prices, Mr. Hagenbuckle pointed out.
9 | 03 | 2009
Hovnanian Turns In a Narrower Loss
The Wall Street Journal
The Red Bank, N.J., home builder has been harder hit than many of its public peers by the worst housing downturn in generations. "They have too much debt and too little profit," said Steve Hagenbuckle, managing principal of TerraCap Partners, a real-estate private-equity fund.
8 | 25 | 2009
Builder Stocks Gain On Case-Shiller Data
Dow Jones
"All housing recovery fundamentals are now aligned," said Steve Hagenbuckle, managing principal of TerraCap Partners, a Florida-based distressed real-estate private equity fund. "Now it's just a matter of time."
8 | 07 | 2009
Wall St Week Ahead: Stocks' rally hinges on consumers and Fed
Reuters
"All the fundamentals for recovery are now aligned," said Steve Hagenbuckle, managing principal of TerraCap Partners, based in New York.
7 | 29 | 2009
U.S. housing turning corner but consumer mood darkens.
New York Times / Reuters
"The pressures are all working in alignment to support that we're at the turning point" in the worst housing market since the Great Depression, said Steve Hagenbuckle, managing principal for TerraCap Partners, a distressed real estate private equity fund in Cape Coral, Florida.
7 | 09 | 2009
US stock market awaits signs of revenue growth.
MarketWatch
"'Expectations for an eighth consecutive quarter of declining profits has been out there for a while, and we've seen the (market) response already built in, in the last week and a half as things pull back,' said Steve Hagenbuckle, managing partner of TerraCap Partners, a distress real estate private equity fund."
7 | 02 | 2009
Phantom Homes
Forbes.com
"Steven Hagenbuckle, managing principal at TerraCap Partners, a distressed real estate private equity fund, expects to see the beginning of the release of the phantom inventory in the next 90 to 180 days, though the inventory influx will come in different waves throughout the country."
