Terrace Capital Secures Non-recourse Financing for a Bankrup
New York, New York – January 27, 2014 - Terrace Capital (TC), a full service real estate investment bank, announces bankruptcy, exit financing for a class B shopping center located in the Milwaukee, WI, MSA. The permanent, non-recourse, CMBS financing had a 10 year term, a 25 year amortization and a 75% loan to value. Cash flow and occupancy was recovering from a downward trend caused by the recession, however diversified, sustainable income from a variety of new local tenants allowed TC to craft a viable exit plan to assure creditors and the bankruptcy court that a reliable exit strategy was now in place.
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