New York, New York – January 27, 2014 - Terrace Capital (TC), a full service real estate investment bank, announces bankruptcy, exit financing for a class B shopping center located in the Milwaukee, WI, MSA. The permanent, non-recourse, CMBS financing had a 10 year term, a 25 year amortization and a 75% loan to value. Cash flow and occupancy was recovering from a downward trend caused by the recession, however diversified, sustainable income from a variety of new local tenants allowed TC to craft a viable exit plan to assure creditors and the bankruptcy court that a reliable exit strategy was now in place.

1. FOR IMMEDIATE RELEASE
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Terrace Capital Secures Non-recourse Financing for a Bankrupt Shopping Center.
New York, New York – January 27, 2014 - Terrace Capital (TC), a full service real estate
investment bank, announces bankruptcy, exit financing for a class B shopping center located in
the Milwaukee, WI, MSA. The permanent, non-recourse, CMBS financing had a 10 year term, a
25 year amortization and a 75% loan to value. Cash flow and occupancy was recovering from a
downward trend caused by the recession, however diversified, sustainable income from a variety
of new local tenants allowed TC to craft a viable exit plan to assure creditors and the bankruptcy
court that a reliable exit strategy was now in place.
According to a senior originator at Terrace Capital, “typically, a bridge loan is first utilized for
financing a property when exiting a chapter 11 bankruptcy, though through careful analysis of
the property submarket and the circumstances revolving around the actions which prompted the
filing, Terrace was able to structure a permanent loan, with an immediate funding. Bypassing
the costly use of bridge financing, provided an estimated savings of approximately $750,000 for
the borrower". Senior members of Terrace Capital have spent the last four years working with
now defunct lenders and bankruptcy courts, restructuring or reorganizing capital stacks to help
borrowers emerge from chapter 11 filings. TC's effective communication with both creditors
and the bankruptcy court, allowed the court to get comfortable and find in favor of the borrower's
plan for the emergence of the chapter 11 protection for the Milwaukee center.
Terrace Capital focuses on non-recourse, high leverage senior & subordinate debt and preferred
equity with investments starting at $5MM on income producing retail, office, industrial,
multifamily, self-storage and hospitality properties located throughout the United States,
including Puerto Rico and Alaska.

2. The Firm is a leader in providing permanent mortgages and equity for wide range of real estate
transactions.
For more information about Terrace Capital and the services it provides, go to
www.terracecapital.com.