Tanglewood Lake Apartments

Tanglewood Lake Apartments is an existing 180-unit market rate multifamily community located in Elizabeth City, North Carolina.  Located on 16.33 acres of land, the project consists of 10 separate three-story walk-up garden apartment buildings, six garage buildings, and a central clubhouse.  The community has an extensive amenity package including a swimming pool, club room, fitness gym, grilling station, dog park, business center, and ample surface parking.  Utilizing HUD’s Section 223(f) refinance program, AGM obtained a HUD-insured mortgage of $20,560,000 with a 35-year term at a fixed interest rate