Adams Crossing is an affordable, 192-unit family apartment community to be built in Waldorf, Maryland. The community offers eight three-story buildings, along with a free standing clubhouse supporting the project amenities, including an outdoor pool. Using HUD’s Section 221d4 New Construction program for insurance advances, AGM obtained a HUD-insured mortgage of $24,465,000 at a fixed interest rate with a 40-year term. Adams Crossing utilizes tax exempt bonds with Low Income Housing Tax Credits. The bonds has been used, in part, to fund a sale/acquisition and new construction cost of the project. Each draw of tax-exempt bond proceeds from the bond trustee during the construction period will be collateralized by cash from the sale of taxable GNMA securities.
The Depot at North Salem of Apex, NC
AGM Financial Services, Inc. is excited to announce the successful closure of a $47,233,300 mortgage for the new construction of “The Depot at North Salem.” This
