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.