AGM Financial Services, Inc. is excited to announce the successful closure of a $68,968,700 mortgage for the new construction of Waldorf Technology Park. This remarkable project will provide 272 new market-rate units within 7 four-story elevator-served buildings in Waldorf, Maryland. The 40-year FHA insured loan was made using the Section 220 program providing long term fixed rate construction/permanent debt. The project will provide spacious, upscale apartment homes with stainless steel appliances, in-unit washer/dryer setup, balconies, and some covered garages.
We want to thank everyone who made this closing a success:
Borrower: WTP Associates, LLC
Sponsor: NewCastle Development Group
General Contractor: Chesapeake Contracting Group
Property Management: NewCastle Management Group
Borrower’s Counsel: Buchanan Ingersoll & Rooney
Architect: TS3 Architects, P.C.
Market Analyst: Real Property Research Group
Civil Engineer & Surveyor: Soltesz
Mortgage Insurance Provider:
- Regional Center: New York HUD
- Satellite & Closing Office: Baltimore HUD
Mortgage Backed Securities: GNMA
Lender’s Counsel: Tiber Hudson LLC
Title Company: Certified Title Corporation
Appraiser: Principle Real Estate Consultants
Capital Needs Assessment, E-Tool: AZ-RI Consultants
A&E/Cost Reviewer: JPS & Associates, Inc.
Environmental Studies & HEROS: AZ-RI Consultants
Green/Energy Consultant: Southern Energy Management
To see how AGM can make your deal work for you, contact AGM’s Origination Team.
