Allendale Apartments

Allendale Apartments is an existing 164-unit affordable multi-family apartment community located in Baltimore, Maryland.  Originally built in 1985 and renovated in 2017, the property consists of a single 12-story elevator serviced building on 2.7 acres of land.  All of the community’s units are covered by a long-term Section 8 contract.  The amenity package includes an on-site management office, a large community room with attached kitchenette, a computer room, and a central laundry room.  AGM obtained a HUD insured mortgage of $9,247,400 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.

Heritage Forest Apartments

Heritage Forest Apartments is an existing affordable multi-family apartment community located in Newport News, Virginia.  Originally built within two phases in 2011 and 2014 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the community consists of 248 total units within garden apartment buildings and a freestanding clubhouse.  All of the community’s units have income restrictions ranging from households earning up to 60% of area median income (AMI) and below.  The amenity package includes a resident clubhouse, swimming pool, splash park, and playground.  AGM obtained HUD insured mortgages for both Phase I and Phase II under the 223(a)(7) refinance program.  Phase I had a mortgage amount of $8,609,900 and Phase II had a mortgage amount $6,339,600.  The refinance of the existing mortgages reduced the fixed interest rate while extending the term of each mortgage back to the original term of 40 years.

Haven Apartment Homes

Haven Apartment Homes is an existing 244-unit market rate multi-family apartment community located in Virginia Beach, Virginia.  The property was originally built in 1972 and renovated between 2015-2017.  The community consists of twelve 2-story townhome style buildings, eight 2-story garden style apartment buildings, and a recently renovated leasing office.  The community’s amenity package includes a pool, pool house, and fitness center.  AGM obtained a HUD insured mortgage of $28,937,200 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to 35 years.

Victory Terrace

Victory Terrace is an existing 72-unit senior mixed-income multi-family apartment community located in Potomac, Maryland.  Originally built in 2003 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the property consists of one, four-story elevator-serviced apartment building.  The community’s units are age-restricted and have mixed affordability with the majority of units income restricted based on LIHTC requirements with the remaining units unrestricted market rate.  The amenity package includes a resident lounge, recreation area, computer room, meditation room, salon, library, fitness room, and laundry facilities.  AGM obtained a HUD insured mortgage of $5,666,200 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the mortgage term.

Princess Anne Townhouses

Princess Anne Townhouses is an existing 120-unit affordable rental property in Princess Anne, Maryland.  The project consists of 12 townhouse style apartment buildings and a freestanding clubhouse.  All of the units will be affordable, restricted to households earning at or below 60% of area median income (AMI).  Amenities at the property include a community room, shared green space, on-site leasing, and a playground.  Utilizing HUD’s Section 221(d)(4) program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $13,000,000 at a fixed interest rate and a 40-year term.  Equity of approximately $6,375,000 was provided through the sale of 4% low-income housing tax credits (LIHTC).   Additional sources include a Rental Housing Works (RHW) loan, HOME loan, Affordable Housing Trust funds, and Multifamily Energy Efficiency (MEEHA) funds.

Terrace Lane Apartments

Terrace Lane Apartments is an existing 138-unit affordable multi-family apartment community located in Lexington, North Carolina.  Originally built in 1984 and substantially rehabilitated in 2016 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the property consists of 48 residential buildings with all of the community’s units covered under a long-term Section 8 contract.  AGM obtained a HUD insured mortgage of $4,960,600 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the mortgage term.

Southside Village Apartments

Southside Village Apartments is an existing 130-unit affordable multi-family apartment community located in Lexington, North Carolina.  Originally built in 1965 and substantially rehabilitated in 2016 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the property consists of 68 residential buildings with all of the community’s units covered under a long-term Section 8 contract.  AGM obtained a HUD insured mortgage of $4,957,200 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the mortgage term.

Crescent Residential Properties of Winder

Crescent Residential Properties of Winder is an existing 282-unit affordable multi-family apartment community located in Winder, Georgia.  The community was substantially rehabilitated with a HUD-insured 221(d)(4) loan in 2016.  The property consists of six property sites containing 138 residential buildings.  All of the community’s units are covered under a long-term Section 8 contract.  AGM obtained a HUD insured mortgage of $9,599,800 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.

The Pointe at Pickett Farms

The Pointe at Pickett Farm I is an existing affordable multi-family apartment community located in Norfolk, Virginia.  Originally built within two phases in 2015 and 2016 with HUD insured financing and Low Income Housing Tax Credits (LIHTC), the community consists of 300 total units within garden walkup apartment buildings and a freestanding clubhouse.  The community’s units have a range of income restrictions for households earning 60% of area median income (AMI) and below.  The amenity package includes a resident lounge, swimming pool, playground area, and fitness center.  AGM obtained a HUD insured mortgage for both phases under the 223(a)(7) refinance program.  Phase I had a mortgage amount of $8,712,700 and Phase II had a mortgage amount of $14,363,800.  The refinance of the existing mortgages reduced the fixed interest rate while extending the term of the mortgages back to the original term of 40 years.

White Marsh Pointe at Eagle Landing

White Marsh Pointe at Eagle Landing consists of two contiguous apartment communities consisting of 206 rental units in Suffolk, Virginia. The community will include 113 renovated units in addition to 93 newly constructed units to replace previous public housing. The project will have townhouse-style buildings, garden walk-up buildings, and a newly constructed freestanding community building. All of the units will be covered under a long-term Section 8 contract and will be restricted to households earning either 50% or 60% of area median income (AMI). Utilizing HUD’s Section 18 Demolition/Disposition program and Section 221(d)(4) program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $23,100,000 at a fixed interest rate and a 40-year term. Equity of approximately $12,794,894 was provided through the sale of 4% low-income housing tax credits (LIHTC). Additional sources include a $1,200,000 loan from the Suffolk Redevelopment and Housing Authority, a $275,000 loan from the City of Suffolk, and a $500,000 AHP loan.

The Presidio

The Presidio is a 250-unit new construction market rate multifamily project located in Charlottesville, Virginia. Located on 20.42 acres, The Presidio will consist of a combination of three-story garden style and four-story elevator serviced buildings and a freestanding clubhouse. Residents will have access to amenities including a lounge, cyber café, fitness center, yoga studio, swimming pool, outdoor grilling station, and fire pit area. Utilizing HUD's Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $55,257,400 at a fixed interest rate with a 40-year term.

Riverwatch I

Riverwatch I is an existing 84-unit mixed income multi-family apartment community located in Elkridge, Maryland.  Originally built in 2017 with Low Income Housing Tax Credits (LIHTC), the property consists of ten, three-story townhouse buildings and a freestanding clubhouse.  Three of the residential buildings include elevators.  The community’s units have income restrictions ranging from households earning up to 50% of area median income (AMI) to market rate.  The amenity package includes individual entrances to all units, a garage for all townhouse units, a leasing office, a playground, a gazebo, a patio and walking trails along the Patapsco River.   AGM obtained a HUD insured mortgage of $14,126,200 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.

The Meadows

The Meadows is an existing 102-unit market rate multifamily community located in Cambridge, Maryland.  Located on 10.20 acres of land, the project consists of three separate three-story walk-up buildings, two three-story elevator serviced buildings, a community clubhouse building, and ample surface parking.  Onsite amenities include clubroom/resident lounge with a kitchen, a business center, a fitness center, and an outdoor pool.  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $12,315,900 with a 35-year term at a fixed interest rate.

Greenspring Overlook

Greenspring Overlook is an existing 189-unit affordable rental property in Baltimore, Maryland.  The project consists of 13 residential buildings including a leasing office/community building centrally located on the property.  A long-term Section 8 contract covers 188 of the 189 units.  Amenities at the property include a large community room, shared green space, a playground, and available daycare/after school services.  Utilizing HUD’s Section 221(d)(4) program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $12,500,000 at a fixed interest rate and a 40-year term.  Equity of approximately $9,529,577 was provided through the sale of 4% low-income housing tax credits (LIHTC).   Additional sources include an EmPower loan, Rental Housing Program (RHP) loan, HOME loan, and Affordable Housing Program (AHP) loan.

Reserve at Stoney Creek II

Reserve at Stoney Creek II is an existing 76-unit market rate multi-family apartment community located in Pasadena, Maryland.  Originally built in 2016, the property consists of three, four story elevator-serviced buildings with structured parking.  The community’s amenity package includes a pool, a fitness center, and central clubhouse which are shared between Phases I and II.   AGM obtained a HUD insured mortgage of $13,832,400 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.

Riverwoods at Tollgate

Riverwoods at Tollgate is an existing 84-unit mixed income multi-family apartment community located in Abingdon, Maryland.  Originally built in 2017 with 9% Low Income Housing Tax Credits (LIHTC), the property consists of four, three-story garden walkup apartment buildings and a freestanding clubhouse.  The community’s units have income restrictions ranging from households earning up to 30% of area median income (AMI) to market rate.  The amenity package includes a business center, dog park, fitness center, laundry facilities, on-site leasing office, playground, outdoor area with firepit, and walking paths to local establishments.   AGM obtained a HUD insured mortgage of $7,983,500 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.

Fountains at Tidwell

Fountains at Tidwell is an existing 188-unit mixed-income multifamily community located in Houston, Texas.  Located on 22 acres of land, the project consists of 47 one and two-story garden style buildings, detached garages, swimming pool, and a community/leasing building.  Of the 188 units, 11 are restricted to households earning at or below 30% of area median income (AMI), 61 units are restricted to 50% AMI, 69 are restricted at 60% of AMI, and the remaining 47 units are market rate.  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $10,600,000 with a 35-year term at a fixed interest rate.

Tanglewood Lake Apartments

Tanglewood Lake Apartments is an existing 180-unit market rate multifamily community located in Elizabeth City, North Carolina.  Located on 16.33 acres of land, the project consists of 10 separate three-story walk-up garden apartment buildings, six garage buildings, and a central clubhouse.  The community has an extensive amenity package including a swimming pool, club room, fitness gym, grilling station, dog park, business center, and ample surface parking.  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $20,560,000 with a 35-year term at a fixed interest rate

Beacon on 5th

Beacon on 5th is an existing 242-unit market rate multifamily community located in Charlottesville, Virginia.  Located on 11.67 acres of land, the project consists of six separate three-story walk-up garden apartment buildings, 32 townhouse units, two carriage homes, a community clubhouse building, and surface parking.  Onsite amenities include an expansive fitness area, yoga studio, cardio area, massage room, cybercafé, resident lounge, and resort style pool with grilling area and fire pit.  Throughout the community are several pocket parks with water features and lounge areas.  Utilizing HUD's Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $49,920,000 with a 35-year term at a fixed interest rate.

1111 Light Street

1111 Light is an existing 93-unit market rate multi-family apartment community located in the Federal Hill neighborhood of Baltimore, Maryland.  Originally built in 2012, the property consists of an elevator-serviced midrise building with approximately 30,000 square feet of commercial space.  The community’s amenity package includes a clubroom with connecting courtyard, fireplace, billiards area, outdoor grills, roof-top deck, fitness center, and available controlled access structured parking.   AGM obtained a HUD insured mortgage of $27,671,200 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.