Terrace Capital offers mezzanine debt for commercial real estate projects, including new development, bridge opportunities and in conjunction with the TC permanent finance program.
Mezzanine debt is subordinate to first mortgage debt and is collateralized the by a borrower’s equity interest in the property. A strong preference is given to transactions where TC is providing senior debt.
$2MM and up
5- 10 years
Multifamily, Mobile Home Community, Office, Industrial, Self-Storage, Retail, Hotel
Pledge of equity interest.
Up to 90% of appraised value (Subject property type, sponsorship and market)
Minimum of 1.05x
1% and up
Yield Maintenance or Defeasance
Non-recourse, subject to standard carve-outs