The Harris Apartments, a Class A portfolio of five residential complexes with 79 units, are located in Chicago, IL. The buildings have one, two & three bedroom apartments, high end finishes and are well located; with access to all urban life has to offer in some of the most desirable neighborhoods of Northern Chicago, including Lincoln Square, Wrigleyville and Wicker Park.
According to a senior underwriter at Terrace Capital, the Fannie Mae program generally provides the most advantageous rates for non-recourse, multifamily loans though there are multiple markets in the US where Fannie Mae and Freddie Mac are unwilling to lend at a 75% LTV. These markets are called “Pre-review”
Terrace Capital focuses on non-recourse loans and preferred equity of $5MM and greater on income producing retail, office, industrial, multifamily, self-storage and hotel properties throughout the continental United States.
The Firm is a leader in structuring permanent mortgages and equity for a wide range of real estate transactions.
For more information about Terrace Capital and the services it provides, go to www.terracecapital.com.