Terrace Capital has recently arranged for a Fannie Mae guaranty on an $8.87MM, first mortgage, multifamily portfolio located in Chicago, IL.
The proceeds were used by the Sponsor, Leon Harris, for the repayment of existing debt and equity for future acquisitions. The mortgage had a 10 year fixed term, a 4.20% rate and a 30 year amortization schedule and was collateralized by five multifamily complexes. Mr. Harris, utilized the services...
