The Morgan II is a 117-unit Class A, new construction community. The community features three, 4-story, elevator buildings located in Chesapeake, Virginia. This project is the second phase of The Morgan which is also a HUD insured market rate community financed by AGM. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $16,740,100 at a fixed interest rate with a 40 year term.
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There are Encouraging Signs, But No Clear Direction…Yet
Long-term rates have been rising since their recent lows in September. The bond market is reacting to uncertainty – uncertainty about inflation, jobs, tariffs, tax
