Terrace Capital, a full service real estate investment bank, announces the origination of a $21.5MM mortgage on six self storage facilities located in Texas. The high leverage, acquisition financing provided a 100% loan-to-cost mortgage on three of the six facilities.
Terrace Capital announced today that it has secured $7MM in non-recourse, mortgage financing for a portfolio of three Baymont Inn & Suites, limited-service hotels, located in Battle Creek & Kalamazoo, MI.
The proceeds of this $13.50MM, 75% loan-to-value mortgage was used by the borrower, Hughes Equities, LLC, for the repayment of existing floating rate debt, attempting to head off a rise in long term interest rates.
The proceeds of this $8MM, 75% loan-to-value mortgage was used by the borrower, 1733 Sheepshead Bay, LLC, for the repayment of existing debt and equity for the development of several new projects in Brooklyn.
The proceeds of this $7.8MM, 75% loan-to-value mortgage was used by the borrower, JDS Development & Management, for the repayment of existing debt and equity for the acquisition of several apartment units that were previously sold when the project was originally developed as condominium.
Terrace Capital announced today that it has secured $61MM in non-recourse financing for a portfolio of single tenant, industrial properties located in nine states, scattered throughout the United States (www.terracecapital.com) .
Terrace Capital announced today that it has secured $13.7MM in non-recourse financing for a 152-room, Class A, full-service Sheraton hotel in Augusta, Georgia.
Satisfied Users & 
Approved Press Releases
