Love Funding, one of the nation’s leading providers of FHA multifamily and healthcare financing, announced the closing of three loans totaling $7.87 million to refinance multifamily projects in Tennessee that share the same owners.
Love Funding Senior Director Tammy Tate of the Knoxville office secured the financing through the U.S. Department of Housing and Urban Development’s 223(a)(7) loan insurance program. The program provides long-term, non-recourse refinancing for existing FHA-insured multifamily properties.

The properties being refinanced are: Willow Creek Apartments, a 134-unit market-rate apartment community in Knoxville; Charleston Square Townhomes, an 80-unit apartment and townhouse complex in Johnson City; and Colonial Village Apartments, a 44-unit apartment project in Columbia.
OSM Investment Company is the general partner involved in all three properties. They are managed by ISM Management LLC, a real estate firm founded in 2000 and based in Los Angeles that manages apartment communities in California, Nevada and Tennessee.
For more information, contact Tammy Tate.