AGM Financial Services, Inc. is proud to announce the successful closing of an $8,100,000 mortgage to refinance Plantation Apartments located in Myrtle Beach, SC.
The refinance of this 100% Section 8 community will provide funding for fresh upgrades while returning equity to the owners. Originally built in 1979 and renovated in 2007 with Low Income Housing Tax Credits, the property features 110 two-story townhome units in 32 buildings spread across 14 acres. Amenities include leasing/maintenance offices, a fitness center, laundry facility, two playgrounds and a basketball court. This Multifamily community has an Elderly Preference for 40 units.
We want to thank everyone who made this closing a success:
- Borrower: Bradley Plantation of South Carolina, LLC
- Co-Sponsor: Franklin Capital Group
- Co-Sponsor: AMCS Development, LLC
- Property Management: AMCS, Inc.
- Borrower’s Counsel: D. Carlyle Rogers, Jr., P.C
- Appraiser: Everson, Huber & Associates, LC
- PCNA: JPS & Associates, Inc.
- Surveyor: Dunes Land Surveying, LLC
- Mortgage Insurance Provider:
- Regional Center: Atlanta HUD
- Closing Office: Atlanta HUD
- Mortgage-Backed Securities: GNMA
- Lender’s Counsel: Tiber Hudson, LLC
- Title Company: First American Title Insurance Company
- Radon Testing: Protect Environmental
- Environmental Studies & HEROS: Dominion Due Diligence Group
To see how AGM can make your deal work for you, contact AGM’s Origination Team.
https://www.agmfinancial.com/about/our-team/origination/
About AGM Financial Services, Inc.
Family-owned with over 30 years of experience, AGM has closed over $10 billion in FHA-insured multifamily project loans nationwide. We underwrite, fund, and service all of our loans. Developers and owners can count on AGM to be accessible, transparent, consistent, and ready to lend. From new construction to substantial rehabilitation to acquisition and refinance — for both market-rate and affordable projects — we can get the deal done. To learn more about AGM, call 800.729.4266 or visit agmfinancial.com.