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Washington, D.C. Morning Brief Washington DC

Washington, D.C. Morning Brief

January 31, 2018 Bisnow

EagleBank Provides Refinancing To 274-Unit

Newport News Affordable Apartment Building

EagleBank is proud to announce the execution of yet another Federal Housing Administration insured multifamily loan. The loan was a refinance under the 223(f) program for the Auburn Pointe Apartments, an affordable 274-unit apartment building located at 496 Catina Way in Newport News, VA. The project was originally developed in 1971 and underwent a renovation in 1998, utilizing low- income tax credits. Auburn Pointe consists of one-, two-, and three-bedroom affordable units with fully-equipped kitchens, walk-in closets, a clubhouse, fitness room, swimming pool and a playground. The FHA loan was originated and underwritten by AGM Financial Services Inc. and was closed and securitized by EagleBank through its Ginnie Mae MBS.

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