Foxchase Apartments
Foxchase Village Apartments is a 134-unit apartment community in St. Mary's County, Maryland. Using HUD's 221(d)(4) program for Substantial Rehabilitation, AGM Financial Services, Inc. obtained a $10,308,700 loan which was funded with tax exempt bonds by Maryland's DHCD. The mortgage has a fixed interest rate of 5.9% with a 40 year term after a 12-month construction period. Equity of approximately $3,100,000 was provided through 4% Low Income Housing Tax Credits. The buyer plans renovations of $15,500 per unit and will maintain the property as affordable housing. The Foxchase Village Apartments consists of 8 two and three story garden apartment buildings built in 1989, with 134 two bedroom apartments and a community clubhouse with swimming pool.

Lansdowne Apartments
Lansdowne Apartments is a 168-unit garden apartment complex in Baltimore County, Maryland. Using HUD's 221(d)(4) program for Substantial Rehabilitation, AGM Financial Services, Inc. provided the credit enhancement for a tax exempt bond of $9,521,300 with a fixed interest rate of 5.9% issued by Maryland's Department of Housing and Community Development. The bond provides for a 14-month construction period followed by a fully amortizing 40 year term. The renovation cost is $33,149 per unit. Equity of $3,907,133 was provided through the syndication of 4% Low Income Housing Tax Credits. The Lansdowne Apartment unit mix is 44 one bedroom, 106 two bedroom and 18 three bedroom apartments with extensive open area on site.

Brenneman Farm
AGM provided a $28 million 221(d)(4) FHA insured mortgage, using the Multi Family Accelerated Processing Program (MAP) for the acquisition and construction of the Brenneman Farm Apartments, developed by Brenneman Farms Apts., LLC, in Virginia Beach, Virginia. The Brennaman Farm Apartment complex is a market rate 304 unit garden apartment complex, with 32 one bedroom, 224 two bedroom and 48 three bedroom apartments. Amenities include a community center, 32 detached garages, 96 units with a lake views, and 76 units with fireplaces and vaulted ceilings. Site control is in the form of a private ground lease for 75 years.

Caru Apartments
Caru Apartments is a 244-unit apartment complex in Roanoke, Virginia. Using HUD's 221(d)(4) program for Substantial Rehabilitation, AGM Financial Services, Inc. obtained a $5,324,200 loan at 5.71% interest rate with a 40 year term after a 12-month construction period. Renovations cost $18,200 per unit. Equity of $7,013,900 was provided through 9% Low Income Housing Tax Credits.

Christina Landing
Christina Landing Apartments is a 173-unit luxury high rise apartment complex to be built in Wilmington, Delaware. Using HUD's 221(d)(4) program for New Construction, AGM Financial Services, Inc. assisted the developer on obtaining a $28,785,200 construction/permanent loan at 5.71% with a 40 year term after the 18 month construction period.

Greentree North
Greentree North is a 96-unit garden apartment community built in 1981 and located in North Charleston, South Carolina. The purchase of Greentree North was financed under the HUD 223(f) program. The new $3,149,200 HUD-insured loan has a 35 year term and an interest rate of 5.37%. The buyer will undertake moderate renovations.

Washington Gardens
Washington Gardens is a 100-unit garden apartment community located in Hagerstown, Maryland. Built in 1982 and serving primarily Section 8 residents, this property was recapitalized through HUD?s Mark-to-Market (M2M) program. A new HUD 223(a)(7) first mortgage of $1,523,600 was combined with a substantial restructuring note in the form of a new second mortgage. The new 30 year loan had a 5.50% interest rate with no prepayment lockout. Following the M2M refinance, a TPA occurred, placing the recapitalized property in the hands of new ownership.