The Deal is Done: Darby House of Richmond, VA

AGM Financial Services, Inc. is proud to announce the successful closing of a HUD insured $5,532,500 mortgage under the 223(f) refinance program of the Darby House of Richmond, VA. Originally built in 2006, this affordable senior apartment community features 108 units in one four-story elevator-served building. All of the apartments are restricted to households whose incomes are at or below 50% of area median income. Amenities include a multi-purpose room with kitchen, sitting areas on each floor, crafts room, TV / library room, fitness center, laundry rooms on each floor, and resident storage areas that are included in the rents.

We want to thank everyone who made this closing a success:

Borrower: Darbytown Meadows LLC

Sponsor: Homes for America, Inc.

Property Management: Habitat America, LLC

Borrower’s Counsel: Gallagher Evelius & Jones LLP

Borrower’s Counsel: Walsh Colucci Lubeley & Walsh PC

Mortgage Insurance Provider:

• Regional Center: New York HUD
• Satellite Office: Baltimore HUD
• Closing Office: Pittsburgh HUD

Mortgage Backed Securities: GNMA

Lender’s Counsel: Reno & Cavanaugh, PLLC

Title Company: Chicago Title Insurance Company

Appraiser: Newmark Knight Frank Valuation & Advisory, LLC

Capital Needs Assessment, E-Tool: AEI Consultants

Environmental Studies & HEROS: AEI Consultants

Surveyor: Baltzer & Associates

To see how AGM can make your deal work for you, contact AGM’s Origination Team.

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 $9 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.