The Deal is Done: Governor’s Inn of Williamsburg, VA

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AGM Financial Services, Inc. is proud to announce the recent closing of a FHA-Insured $38,139,200 mortgage under the 221(d)(4) new construction program for Governor’s Inn in Williamsburg, VA. This new market rate community will be built on the site of a former hotel located close to the historic center of Colonial Williamsburg. The five elevator-served apartment buildings will provide a total of 162 units. A separate clubhouse will include a great room, cybercafé, fitness center, yoga studio, and swimming pool. The pool deck will feature an outdoor living area, grilling station and fire pit.

We want to thank everyone who made this closing a success:

Borrower: CDP WB PE, LLC

Sponsor/Co-Sponsors: Castle Development Partners

General Contractor: Breeden Construction, LLC

Property Management: Grady Management, Inc.

Borrower’s Counsel: Buchanan Ingersoll & Rooney PC

Architect: TS3 Architects

Market Analyst: Real Property Research Group

Civil Engineer: LandTech Resources, Inc.

Surveyor: LandTech Resources, Inc.

Mortgage Insurance Provider:

  • Regional & Closing Office: New York HUD

  • Satellite Office: Boston HUD

Mortgage Backed Securities: GNMA

Lender’s Counsel: Kennerly, Montgomery & Finley, P.C

Title Company: First American Title Insurance Co

Appraiser: Peter S Eckert & Associates, Inc.

Capital Needs Assessment, E-Tool: JPS & Associates, Inc.

A&E/Cost Reviewer: JPS & Associates, Inc.

Environmental Studies & HEROS: EBI Consulting

Green/Energy Consultant: Southern Energy Management

To see how AGM can make your deal work for you, contact AGM’s Origination Team.

About AGM Financial

Founded in 1990, AGM is a leading FHA lender and GNMA seller/servicer. From new construction and substantial rehab to acquisition or refinance — for both market-rate and affordable projects — AGM gets the deal done. Family-owned with over 30 years of experience, the firm has closed over $9 billion in FHA-insured multifamily project loans nationwide. We underwrite, fund, and service all of our loans. Developers and owners can count on AGM to be accessible, transparent, consistent, and ready to lend. From new construction to substantial rehabilitation to acquisition and refinance — for both market-rate and affordable projects — we can get the deal done. To learn more about AGM, call 800.729.4266 or visit agmfinancial.com.