AGM Financial Services, Inc. is proud to announce a $57,919,400 FHA-insured mortgage for the construction of Winchester Commons, a new 246-unit Class A apartment community in Winchester, Virginia, utilizing HUD’s Section 221(d)(4) new construction program.
The community will span 12 residential buildings plus a centrally located clubhouse on a 13.4-acre site near Interstate 81. Residents will enjoy an extensive amenity package including a resort-style saltwater pool with sun shelf and lounging pergolas, a brew garden with fire pit and grills, a bocce court, a state-of-the-art fitness center, and a resident pet spa. Units will feature 9-foot ceilings, granite countertops, stainless steel appliances, LVT flooring, in-unit washers and dryers, and private balconies. In addition, 39 detached garages and additional storage units will be available on-site.
We want to thank everyone who made this closing a success:
- Borrower / Mortgagor: CDP Legge Blvd, LLC
- Sponsor: NewCastle Development Group
- General Contractor: Howard Shockey & Sons, Inc.
- Architect: Dynamik Design Partners, LLC
- Civil Engineer: Greenway Engineering, Inc.
- Surveyor: Greenway Engineering, Inc.
- Property Management: CDGMS, LLC
- Borrower’s Counsel: Kathryn A. Kronquist, Buchanan Ingersoll & Rooney PC
- Lender’s Counsel: Jonathan H. Peyton, Esq., Tiber Hudson LLC
- Title Company: Safe Harbor Title Company
- Surety Company: Travelers Casualty and Surety Company of America
- Appraiser: Everson, Huber & Associates, LC
- Market Analyst: Polestar Analysis, LLC
- PCNA / A&E-Cost Review: JPS & Associates, Inc.
- Environmental Studies & HEROS: Dominion Due Diligence Group
- Regional Center / Satellite Office: New York Regional Center / Baltimore Satellite Office
To see how AGM can make your deal work for you, contact AGM’s Origination Team.
About AGM Financial
Founded in 1990, AGM is a leading FHA lender and GNMA seller/servicer. From new construction and substantial rehab to acquisition or refinance — for both market-rate and affordable projects — AGM gets the deal done. Family-owned with over 30 years of experience, the firm has closed over $9 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.