Highland Ridge is a 197-unit apartment building located in Capitol Heights, Maryland. The property was originally financed pursuant to HUD’s Section 221(d)(4) substantial rehabilitation program. Using HUD’s Section 223(a)(7) program for currently insured properties, AGM obtained a new insured mortgage of $11,627,000. The new mortgage refinanced the old debt and lowered the interest rate resulting in substantial annual savings.
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When the ball stops rolling…
The way to catch a knuckleball is to wait until it stops rolling and then pick it up. – Bob Uecker In baseball, the knuckleball
