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Home | December 2012News | Terrace Capital, Inc. Announces- $4.75MM Non-Recourse, Multifamily Loan- Johnson City, TN
 
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  • Terrace Capital, Inc. Announces- $4.75MM Non-Recourse, Multifamily Loan- Johnson City, TN
  • Terrace Capital, Inc. Announces- $4.75MM Non-Recourse, Multifamily Loan- Johnson City, TN
  • December 11, 2012
  • Terrace Capital announces the funding of a $4.75MM Fannie Mae multifamily mortgage on the Poplar Ridge Apartments located in Johnson City, TN.

    The proceeds were used by the Sponsor, Mark Corcoran, for the repayment of existing debt and equity for future acquisitions. The mortgage had a 10 year fixed term, a 3.74% rate and a 30 year amortization schedule and was fund within a week of commitment. Mr. Corcoran, utilized the services of Terrace Capital to navigate the complex stream of Fannie Mae paperwork and the tedious nature of the process.

    The Poplar Ridge Apartments is Class A, residential complex with 103 units and is located a...
  • View more at: http://www.1888pressrelease.com/terrace-capital-inc-announces-4-75mm-non-recourse-multi-pr-443312.html
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