Oak Hill Brackenridge

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Oak Hill Brackenridge is a 140-unit new construction market rate multifamily project located in Pittsburgh, Pennsylvania.  Located on 3.5 acres within the larger Oak Hill planned community, the project will consist of four separate, three- and four-story garden style apartment buildings.  Residents will have access to amenities throughout the greater Oak Hill community including a state of the art fitness club, two swimming pools, playgrounds, basketball courts, tennis courts, and on-site surface parking.  Utilizing HUD's Section 221(d)(4) New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $30,580,600 at a fixed interest rate with a 40-year term.

Cherry Grove

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Cherry Grove Apartments is an existing 76-unit affordable family apartment development located in Altoona, Pennsylvania.  The property consists of seven, two-story apartment structures, a single-story community building, and a maintenance building.  Utilizing HUD’s Section 221(d)(4) program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $6,041,000 with a 40-year at a fixed interest rate.  Equity of approximately $3,732,529 was provided through the sale of 4% low-income housing tax credits (LIHTC).

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Myles Perkins

Myles has spent more than 15 years in commercial real estate with experience in asset management, acquisitions, dispositions, and financing. Prior to joining AGM he was a Vice President of asset management with The JBG Companies in Chevy Chase, MD. Before joining JBG, Myles was an investment analyst for the Akridge Companies in Washington, DC. He also spent several years underwriting and originating GSE debt at Reilly Mortgage Group before it was acquired by Wells Fargo. B.A. Geography, Bucknell University; MBA, Darden School of Business, The University of Virginia.

Lancaster House South

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Lancaster House South is a 150-unit elderly apartment building located in Lancaster, Pennsylvania. This 11-story building was originally constructed in 1979 with a HUD Section 202 direct loan. AGM structured the refinance and recapitalization of the project using a combination of two HUD-insured loans. A new $4,290,900 first mortgage was made using Section 223(f) in accordance with all of HUD’s Section 202 refinance requirements. A Section 241 Supplemental loan of $4,445,400 was processed and closed simultaneously. This second mortgage funded the majority of the renovations. Debt service savings from the prior Section 202 loan plus a Section 8 rent increase to market rent will provide the revenue needed to service this loan. Both loans were funded for 35 years.

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Myles Perkins

Myles has spent more than 15 years in commercial real estate with experience in asset management, acquisitions, dispositions, and financing. Prior to joining AGM he was a Vice President of asset management with The JBG Companies in Chevy Chase, MD. Before joining JBG, Myles was an investment analyst for the Akridge Companies in Washington, DC. He also spent several years underwriting and originating GSE debt at Reilly Mortgage Group before it was acquired by Wells Fargo. B.A. Geography, Bucknell University; MBA, Darden School of Business, The University of Virginia.

Rooney Apartments

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Rooney Apartments is a 150-unit senior high-rise property in Bethlehem, Pennsylvania. The property includes 8,000 square feet of commercial space. Using HUD's Section 231 Substantial Rehabilitation program, AGM obtained a HUD-insured mortgage of $5,088,100 with a 40-year term plus the construction period. The Pennsylvania Housing Finance Authority (PHFA) contributed $1,500,000 in PennHomes funds. PHFA awarded tax credits which generated $7,800,000. The project involves acquisition and $30,800 per unit in repairs to replace windows, roof, kitchen cabinets, dishwashers, lights, and carpets. New through-wall air conditioning units and two sun rooms will be added. The project includes 42 efficiencies, 105 one-bedrooms, and 3 two-bedrooms.

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Myles Perkins

Myles has spent more than 15 years in commercial real estate with experience in asset management, acquisitions, dispositions, and financing. Prior to joining AGM he was a Vice President of asset management with The JBG Companies in Chevy Chase, MD. Before joining JBG, Myles was an investment analyst for the Akridge Companies in Washington, DC. He also spent several years underwriting and originating GSE debt at Reilly Mortgage Group before it was acquired by Wells Fargo. B.A. Geography, Bucknell University; MBA, Darden School of Business, The University of Virginia.