Villages at Odenton Station

Villages at Odenton Station an existing 235-unit market rate multi-family apartment community located in Odenton, Maryland.  The property was originally built in 2013 and consists of four separate four-story elevator-serviced buildings, fitness center, business center, community room, and 55,000 square feet of ground floor retail space including the anchor, Ruth’s Chris Steakhouse.  The community is also transit oriented within walking distance of the local Odenton MARC train station.  AGM obtained a HUD insured mortgage of $57,731,500 under the 223(a)(7) refinance program.  The refinance of the existing mortgage reduced the fixed interest rate while extending the term of the mortgage back to the original term of 40 years.