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Apr142019

Glen Forest Senior Apartment Homes 

Glen Forest Senior Apartment Homes is an existing 100-unit mixed-income age-restricted apartment community located in Glen Burnie, Maryland.  Tenancy is restricted to households headed by an individual aged 62 years or older.  The project is located on 4.56 acres of land and consists of one, four-story elevator-serviced building.  The community offers units 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 $6,069,500 with a 35-year term at a fixed interest rate.

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