The Deal is Done: Waldorf Technology Park of Waldorf, MD

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AGM Financial Services, Inc. is excited to announce the successful closure of a $68,968,700 mortgage for the new construction of Waldorf Technology Park. This remarkable project will provide 272 new market-rate units within 7 four-story elevator-served buildings in Waldorf, Maryland. The 40-year FHA insured loan was made using the Section 220 program providing long term fixed rate construction/permanent debt. The project will provide spacious, upscale apartment homes with stainless steel appliances, in-unit washer/dryer setup, balconies, and some covered garages.

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

Borrower: WTP Associates, LLC

Sponsor: NewCastle Development Group

General Contractor: Chesapeake Contracting Group

Property Management: NewCastle Management Group

Borrower’s Counsel: Buchanan Ingersoll & Rooney

Architect: TS3 Architects, P.C.

Market Analyst: Real Property Research Group

Civil Engineer & Surveyor: Soltesz

Mortgage Insurance Provider:

  • Regional Center: New York HUD

  • Satellite & Closing Office: Baltimore HUD

Mortgage Backed Securities: GNMA

Lender’s Counsel: Tiber Hudson LLC

Title Company: Certified Title Corporation

Appraiser: Principle Real Estate Consultants

Capital Needs Assessment, E-Tool: AZ-RI Consultants

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

Environmental Studies & HEROS: AZ-RI Consultants

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 $10 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.

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Steve Rudow

Steve joined AGM in 2001 and is a HUD-approved underwriter who has transitioned to loan origination. During the 2015-16 academic year, Steve served as an Adjunct Professor for the University of Maryland’s Colvin Institute of Real Estate Development, co-teaching the Market Analysis and Valuation courses. Steve is also an Instructor for the Mortgage Bankers Association’s FHA Multifamily Underwriting Training Program, teaching a course entitled Valuation Analysis & Investment Mathin 2013-18. Before joining the AGM team, he was a senior underwriter in the Bank of America CMBS conduit program. Previously, Steve was a commercial real estate appraiser and consultant, earning the MAI designation in 1992. Steve received a Liberal Arts BA in 1985 from St. Johns College, Annapolis, MD. Steve’s wonderful daughter is a graduate of Hood College.