AGM Financial Services is pleased to announce the successful closingof a $68,968,700 mortgage for the new construction of Waldorf Technology Park in Waldorf, Maryland. The project will deliver 272 new market-rate units in seven four-story elevator-served buildings, providing spacious and upscale apartment homes with premium amenities.
“It was an excellent experience working with the entire AGM team to close this loan,” said Kyle James of NewCastle Development Group.“In an uncertain operating environment it is helpful to have a partner like AGM to guide us through process.”
The 40-year FHA-insured loan was made using the Section 220 program, offering long-term fixed-rate construction/permanent debt. Residents of Waldorf Technology Park will enjoy apartment homes featuring stainless steel appliances, in-unit washer/dryer setup, balconies, and select units with covered garages.
“We are thrilled to be a part of the Waldorf Technology Park project, which will bring high-quality housing options to the Waldorf community,” said Myles Perkins, President and Owner of AGM. “Our team’s expertise in FHA lending and our commitment to our clients have enabled us to successfully close this significant mortgage, and we look forward to seeing the positive impact this development will have on the area.”
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 $10 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.
