Crescent Landing Apartments

Crescent Landing Apartments is an existing 175-unit affordable multi-family apartment community located in Greenville, South Carolina. Originally built in 1973 and renovated in 2013 with HUD-insured financing, the property consists of 22 garden and townhome-style apartment buildings. All of the community’s units have income restrictions for households earning up to 60% of area median income (AMI). AGM obtained a HUD insured mortgage of $8,201,400 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 37 years.