Auburn Pointe Apartments
Monday, January 8, 2018 at 10:38PM
Philip Perkins in 2017 Closings, Multi-family, Virginia

Auburn Pointe Apartments is an existing 274-unit affordable multifamily apartment community located in Newport News, Virginia.  The project is located on 13.53 acres of land and consists of 12, one and two-story buildings with a separate rental office and pool building.  All of the units are restricted to tenants earning at or below 50% and 60% of area median income (AMI).  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $15,756,900 with a 35-year term at a fixed interest rate.

Article originally appeared on AGM Financial Services: Financing Communities with FHA (http://www.agmfinancial.com/).
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