Amal Heights Apartments

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Amal Heights is a 192-unit existing family duplex rental property located in Atlanta, Georgia. Using HUD’s Section 221d4 program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $9,350,000 with a 40-year term. The mortgage was funded through the sale of tax-exempt bonds issued by the Atlanta Development Authority. Total project costs are approximately $33,000 per unit.