Flats170 at Academy Yard

Flats170 at Academy Yard is a 369-unit existing market rate multi-family apartment community located in Odenton, MD.  The property was originally financed by AGM under the Section 221(d)(4) New Construction program in 2012.  AGM obtained a HUD insured mortgage of $70,948,500 under the 223(a)(7) refinance program.  The refinance reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.