AGM Financial Services Provides $15M Loan For Marywood Apartments Renovation

The Marywood Apartments, located at 10700 Crestwood Drive in Manassas, VA, underwent a renovation financed by AGM Financial Services. The $15 million mortgage provided by AGM Financial Services allowed for a rehabilitation of $68,000 per unit in the 129-unit age-restricted community. The property is exclusively dedicated to Section-8 housing.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $15,000,000
• Number of Units: 129
• Lender: AGM Financial Services - Margaret Allen
• Landlord: Saint Mary's Housing Corporation - John Spencer

Margaret Allen, representing AGM Financial Services, facilitated the financing of the Marywood Apartments renovation project. John Spencer, as the representative of Saint Mary's Housing Corporation, served as the landlord overseeing the project. The collaboration between these two individuals and their respective organizations made the rehabilitation of Marywood Apartments possible.