Forest Ridge Apartments is an existing 108-unit affordable multifamily community located in Columbia, Maryland. Located on 12.29 acres of land, the project consists of six, three-story garden apartment buildings with a leasing office and community room. The community has one-bedroom, two-bedroom, and three-bedroom units. Approximately 90% of the property’s units are covered under a long-term Section 8 HAP contract. Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $10,213,900 with a 35-year term at a fixed interest rate.
Blog Articles
There are Encouraging Signs, But No Clear Direction…Yet
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
