AGM Financial Services, Inc. is proud to announce the recent closing of a $20,837,400 mortgage for the construction of Willow Manor at Cabin Branch located in Clarksburg, Maryland. AGM provided a 40-year, FHA insured construction/permanent loan under the Section 221(d)(4) program for the development, which also utilized 4% Tax Credits and Tax Exempt Bonds. This community will consist of 125 elevator-served, age restricted units in a single four-story building. Community amenities will include a large multipurpose room with a café, a parlor area with seating and computers for resident use, a fitness center/yoga room, and outdoor walking trails. All of the apartments will be leased to tenants earning 60% or less of the Area Median Income.
We want to thank everyone who made this closing a success:
Borrower: Willow Manor at Cabin Branch, LLLP
Sponsor/Co-Sponsors: Kirby Development LLC
General Contractor: Hamel Builders, Inc.
Property Management: Habitat America, LLC
Borrower’s Counsel: Carney, Kelehan, Bresler,Bennett & Scherr, LLP
Architect: Studio K Architecture
Appraiser: Metzbower, Watts & Hulting/ Linden Valuation Consultants
Market Analyst: Real Property Research Group
Green Consultant: Pando Alliance
Mortgage Insurance Provider:
- Regional Center: New York HUD
- Satellite Office: Boston/Baltimore HUD
- Closing Office: Washington DC HUD
Civil Engineer: Colliers Engineering & Design, Inc.
Surveyor: Wolford & Chen PC
Mortgage Backed Securities: GNMA
Lender’s Counsel: Vorys, Sater, Seymour and Pease LLP
Title Company: Crown Title Corporation
Environmental Studies & HEROS: Geo-Technology Associates, Inc.
Bond Issuer: Maryland Department of Housing and Community Development
Issuer’s Counsel: Kutak Rock LLP
Bond Underwriter: Stifel, Nicolaus & Company, Incorporated.
Underwriter’s Counsel: Tiber Hudson LLC
Tax Credit Syndicator: Hudson Housing Capital LLC
Syndicator’s Counsel: Kutak Rock LLP
A&E/Cost Reviewer: JPS & Associates, Inc.
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.
