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Regency Crest
 Regency Crest is a 150-unit senior market rate apartment community to be built in Ellicott City, Maryland. Using HUD's Section 231 New Construction program for insured advances, AGM obtained a HUD-insured mortgage of $28,176,200 at a low interest with a 40-year term. The project includes 54 one-bedrooms, 94 two-bedrooms, and 2 three-bedrooms with an indoor pool, gourmet clubhouse kitchen, and two guest suites.
Oak Crest at Battlefield
 Oak Crest at Battlefield is a 164-unit market rate family apartment community to be built in Chesapeake, Virginia. Using HUD's Section 221d4 New Construction program for insured advances, AGM obtained a HUD-insured mortgage of $24,115,100 at 5.75% interest with a 40-year term. The project includes 32 one-bedrooms, and 124 two-bedrooms, and 8 three-bedrooms. This 4-story property includes 4 elevators and extensive common amenities.
Park View at Severna Park
 Park View at Severna Park is a 103-unit affordable elderly apartment community to be built in Severna Park, Anne Arundel County, Maryland. Using HUD's Section 231 New Construction program for insured advances, AGM obtained a HUD-insured mortgage of $4,250,000 at 5.59% interest with a 40-year term. The project includes 3 studios, 73 one-bedrooms, and 27 two-bedrooms. This 4-story property was funded in part through the sale 9% Low Income Housing Tax Credits, $2,100,000 from the State of Maryland, and $1,200,000 from Anne Arundel County.
Robert Sharp Towers I
 Robert Sharp Towers I is a 110-unit existing elderly apartment building built in 1979 located in Miami Gardens, Florida. Robert Sharp Towers I was financed under the HUD 223(f) program which allows cash out. The new $3,368,000 HUD-insured loan has a 4.78% interest rate and 35-year term. The owner will make almost $17,000 per unit in repairs and upgrades.
Mission Place
 Mission Place is a 262-unit market rate family apartment community to be built in Jessup, Maryland. Using HUD's Section 221d4 New Construction program, AGM obtained a HUD-insured mortgage of $45,431,100 at 5.76% interest with a 40-year term. The loan will be funded pursuant to HUD's program for insured advances. The project includes 101 one-bedrooms, and 161 two-bedrooms with first level retail space and 108 garage parking spaces.
Cascades at Woods Corner
 Cascades
is a 226-unit family apartment community to be newly constructed in
Virginia Beach, Virginia. The project includes 82 one-bedrooms, 116
two-bedrooms, and 28 three-bedrooms. Amenities include 28 detached
garages, 83 vaulted ceilings, 54 water views, and elevator access to 46
units, plus a pool, clubhouse, and 25,000 square feet of ground floor
retail space. The property is three-stories with a mix of walk-up and
elevator buildings. Using HUD's Section 221d4 program for new
construction, AGM obtained a HUD-insured mortgage of $33,455,600 at
6.25% interest with a 40-year term.
Summit Woods
 Summit
Woods is a 198-unit family apartment community to be substantially
rehabilitated in Gaithersburg, Montgomery County, Maryland. The
property had been vacant for two years and scheduled for demolition
when the owners decided to rehabilitate the units, add a pool and
clubhouse, and improve the grounds. The community offers three-story
walk-up buildings. Using HUD's Section 221d4 program for substantial
rehabilitation, AGM obtained a HUD-insured mortgage of $32,941,600 at
6.29% interest with a 40-year term. The project includes 38
one-bedrooms, 146 two-bedrooms, and 14 three-bedrooms. The property is
surrounded on two sides by park land.
Chatham Village
 Chatham Village is a 94-unit family property located in Easton, Maryland. In 1992 AGM assisted in the original construction financing for this property from the State of Maryland. This year, AGM brokered the Fannie Mae refinance of Chatham Village to Wells Fargo, NA to produce a loan of $4,745,000. The new loan represents 63% Loan to Value with an interest rate of 6.16%. The refinancing repaid the original debt to the State and provided $487,000 for repairs and upgrades. The property includes 1 studio, 81 one-bedrooms, 9 two-bedrooms, and 3 three-bedrooms.
Tanglewood
 Chatham VillageTanglewood is a 180-unit family apartment community to be built in Elizabeth City, North Carolina. The community offers three-story walk-up buildings with a pool and clubhouse. Using HUD's Section 221d4 New Construction program, AGM obtained a HUD-insured mortgage of $18,258,400 at 6.44% interest with a 40-year term. The loan will be funded pursuant to HUD's program for insured advances. The project includes 36 one-bedrooms, 114 two-bedrooms, and 30 three-bedrooms with 27 detached garages and 60 vaulted ceilings. |
