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 Terr...
