Westminster Portfolio 2

AGM recently closed nine refinance loans totaling over $29,000,000 for a portfolio of properties located across North Carolina and South Carolina.  The properties range in size from 28 to 120 units and total up to more than 560 apartments. These projects are largely garden-style walk-up apartments with Section 8 contracts. Four of the nine properties are targeted towards elderly families. Using HUD’s Section 223(f) program, AGM obtained HUD-insured mortgages for each property, which are all non-recourse and fully amortizing at a fixed interest rate.