Westminster Portfolio 
Sunday, April 14, 2019 at 5:21PM
Philip Perkins in 2018 Closings, Affordable Housing (Section 8), North Carolina, South Carolina

AGM recently closed a portfolio of 11 properties located across North Carolina and South Carolina.  The properties range in size from 63 and 156 units and are largely garden-style walk-up apartments with Section 8 contracts.  Using HUD's Section 223(f) refinance program, AGM obtained HUD-insured mortgages for each property with total proceeds exceeding $30,000,000 for the portfolio.  Each mortgage is non-recourse and fully amortizing at a fixed interest rate. 

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