Updated Oct 29, 2024
AGM Financial Services Closes $9.37M Mortgage For Morris Blum Senior Apartments
701 Glenwood Street Annapolis, Maryland 21401, USA
$9,370,000
Building Size
—
Asset Type
Senior Housing
Closing
Aug 22, 2023
About this deal
AI
The Morris H. Blum Senior Apartments in Annapolis, Maryland has undergone a significant revitalization with the support of a $9.37 million mortgage from AGM Financial Services. This senior housing property, located at 701 Glenwood St, has received the necessary funding to carry out its transformation.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $9,370,000
- Lender: AGM Financial Services
- Landlord: Morris Blum Senior LLC
AGM Financial Services played a crucial role in facilitating the successful completion of this mortgage deal. Their financial support has enabled the revitalization efforts for the Morris H. Blum Senior Apartments. This transaction demonstrates AGM Financial Services' commitment to investing in senior housing and contributing to the development of Annapolis' housing market.
Players
Glenview Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93