Forest Ridge Apartments

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.