Crescent Residential Properties of Winder

Crescent Residential Properties of Winder is an existing 282-unit affordable multi-family apartment community located in Winder, Georgia.  The community was substantially rehabilitated with a HUD-insured 221(d)(4) loan in 2016.  The property consists of six property sites containing 138 residential buildings.  All of the community’s units are covered under a long-term Section 8 contract.  AGM obtained a HUD insured mortgage of $9,599,800 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.