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Rainbow Terrace Apartments

FHA New Construction & Substantial Rehab

Endorsed June 24, 2022

FHA #04235737

Deal Details

Location: Cleveland, Ohio
Mortgage Amount: $50.0M
Units: 468
Program: New Construction & Substantial Rehab
Lender: Berkadia Commercial Mortgage LLC
Fiscal Year: FY2022
LIHTC: Yes

Current Loan Status

Active

Outstanding Balance: $48.3M($50.0M original)
Interest Rate: 2.99%
Maturity: January 2064(38 years remaining)
Original Term: 40 years
Holder: KeyBank National Association
Servicer: KeyBank National Association

Source: HUD BF90 Active Insured Mortgages · Data as of February 2026

Data Sources

Endorsement data: HUD FHA Multifamily Firm Commitments and Endorsements Database

Active loan data: HUD BF90 Active Insured Mortgages, as of February 2026

hud.gov multifamily data

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