Golden Ring is an existing 153-unit affordable elderly community located in Essex, MD. Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $6,301,400 with a 35-year term at a fixed interest rate. Maryland DHCD issued tax-exempt bonds in the amount of $10,000,000. Equity of approximately $5,513,000 was provided through the sale of 4% low income housing tax credits and a Rental Housing Works loan of $1,950,000 was provided from Maryland CDA. Project sources allowed for approximately $30,000 per unit in renovations.

2911 Rhode Island Avenue in Washington DC
AGM Financial Services, Inc. is proud to announce the successful closing of a $14,450,500 Section 221(d)(4) mortgage for this 100 unit new construction project. The