| Home | February 2013News | Terrace Capital, Inc. Announces- $7.8MM Non-Recourse Multifamily Loan- Jeffrey Luxury Apartments - Columbus, OH |
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 Terrace Capital, Inc. Announces- $7.8MM Non-Recourse Multifamily Loan- Jeffrey Luxury Apartments - Columbus, OH- Terrace Capital, Inc. Announces- $7.8MM Non-Recourse Multifamily Loan- Jeffrey Luxury Apartments - Columbus, OH
- February 15, 2013
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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.
The non recourse, mortgage had a 10 year fixed term and a 30 year amortization schedule. J. Daniel Schmidt, a principal at JDS Development, looks forward to continuing his distinguished track record of developing Class A multifamily properties in Ohio and other locations in the Eastern United States. Mr. Schmidt has clearly demonstrated his ability to turn functionally obsolete industrial developments in historically manufacturing based locations, into thriving, vibrant multifamily communities...
- View more at: http://www.1888pressrelease.com/terrace-capital-inc-announces-7-8mm-non-recourse-multifa-pr-455635.html
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