As a busy CFO for a private REIT, I generally would not take the time write a review about an organization, unless it was a negative one. After two years of searching for capital to expand our industrial portfolio and having virtually no luck, we found success with Terrace Capital. The firm underwrote a private placement (Reg D 506) transaction, which yielded $86MM in preferred equity. The process was long and tedious; though in the end it was a triumphant one. Joel Grossman - CFO
Posted: 4/22/2011 • Link to this review
Frankly, I was surprised at their ability to come up with creative solutions where most Banks declined the loan. They were able to fit a "square" peg in a "round" hole. I look forward to working with them in the future. Robert Malone
Posted: 8/22/2010 • Link to this review
I'm a real estate attorney that recently secured a construction loan for an apartment complex in Jersey City, NJ for a prestigious developer client of mine. Overall it was a positive experience, in a very difficult construction loan market. We found the Terrace process to be more detailed than we would have liked, but the terms were very reasonable (5.5%, interest only, 70% LTC) We had approached several traditional banks in Northern NJ and NY, which ultimately could not get their arms around the value of the location and potential for the project. Terrace spent the time needed to grasp the significance of what we were contemplating. We have submitted another project to Terrace at the beginning of August, though have not heard back regarding their appetite for the deal. Mike Rosenstein, Esq.
Posted: 8/10/2010 • Link to this review