AGM Financial Services, Inc., a leading provider of multifamily financing solutions, is pleased to announce the successful closing of a $44,278,400 construction-permanent loan for the development of West Catawba Apartments in Cornelius, North Carolina. This FHA-insured deal marks another significant milestone in AGM Financials’ commitment to supporting quality housing development across the country.
The loan will finance the construction of 195 Class A apartments by NewCastle Development Group. West Catawba Apartments will offer residents a premium living experience with an array of high-end amenities.
The development will consist of two three-story walk-up townhouse-style buildings and two four-story elevator-served buildings. The exterior will showcase a sophisticated blend of Hardie-Plank and stone finishes, reflecting the project’s commitment to both aesthetics and durability.
Myles Perkins, President and Owner of AGM, commented on the closing: “The FHA program offers unique advantages for multifamily construction-to-permanent loans, including long-term, fixed-rate financing and high loan-to-value ratios. These features not only make projects like West Catawba Apartments possible but also contribute to the creation of high-quality housing.”
For more information about AGM Financial Services and its multifamily financing solutions, please visit www.agmfinancial.com.
About AGM Financial Services, Inc.
Family-owned with over 30 years of experience, AGM 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.
