Haven Apartment Homes is an existing 244-unit market rate multi-family apartment community located in Virginia Beach, Virginia. The property was originally built in 1972 and renovated between 2015-2017. The community consists of twelve 2-story townhome style buildings, eight 2-story garden style apartment buildings, and a recently renovated leasing office. The community’s amenity package includes a pool, pool house, and fitness center. AGM obtained a HUD insured mortgage of $28,937,200 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 35 years.
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There are Encouraging Signs, But No Clear Direction…Yet
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