Mountain View Apartments is a 109-unit existing multifamily rental property located in Gastonia, North Carolina. Under HUD’s Rental Assistance Demonstration (RAD) program, the property converted its existing public housing subsidies into a long-term Section 8 contract. The project consists of 44 one and two-story apartment buildings and three community buildings on 17.94 acres of land. Utilizing HUD’s Section 221(d)(4) program for substantial rehabilitation, AGM obtained a HUD-insured mortgage of $4,500,000 at a fixed interest rate and a 40-year term. Equity of approximately $4,828,242 was provided through the sale of 4% low-income housing tax credits (LIHTC). Additional sources include a $500,000 Federal Home Loan Bank of Atlanta (AHP) loan. Site control was achieved through an upfront payment on a ground lease evidenced by a note.
Press Releases
AGM Financial Services’ Matt Daddio Appointed to Howard County Housing and Community Development Board
BALTIMORE, September 26, 2024 – AGM Financial Services is proud to announce that Matt Daddio, Deputy Chief Underwriter, Vice President at AGM, has been appointed
