TGM REFINANCES MULTIFAMILY COMMUNITY IN GLEN BURNIE, MD

BY PR Newswire | AGENCY | 07/11/22 09:00 AM EDT

NEW YORK, July 11, 2022 /PRNewswire/ --?TGM announced today the mortgage refinancing for TGM Creekside Village, a 208-unit multifamily apartment community in Glen Burnie, MD. TGM Creekside Village received Green Globes Certification enabling TGM to secure competitive borrowing terms from Fannie Mae as a result of the property's green efficiency and sustainability. The refinancing opportunity was originated by Team Edelson at Walker & Dunlop.

TGM Creekside Village - Glen Burnie, MD

TGM REFINANCES MULTIFAMILY COMMUNITY IN GLEN BURNIE, MD

TGM Creekside Village has a formidable competitive position in the East Anne Arundel County submarket due to its suburban setting with convenient access to the area's major employment and economic centers. The property was built on 8.3 acres in 2014, with its 208 garden apartment homes situated in three elevatored four-story and three walk-up three-story climate-controlled buildings. The property offers a mixture of one-, two-, and three-bedroom floor plans, enabling the property to appeal to a cross section of potential renters in the market. The availability of three-bedroom apartments is an increasingly positive attribute with increased attractiveness in line with growing work from home trends. Furthermore, few rental communities within the submarket have them. The property also offers residents an appealing amenity package within and surrounding its LEED Silver constructed clubhouse, including caf? lounge, business center, athletic club, outdoor swimming pool with splash pad, playground, picnic areas, and more.

Anne Arundel County is in the heart of the nation's fourth largest market, the Baltimore-Washington D.C. corridor. The local economy is supported by a diverse set of economic drivers such as BWI Marshall Airport, the defense industry, world-class private sector employers, telecommunications, retail and distribution operations.

"The design, layout and construction of the apartments are excellent, with an average unit size of almost 1,000 SF, which compares favorably amongst its competition. The property offers a mixture of one-, two- and three-bedroom apartments. The availability of three-bedroom apartments is an increasingly positive attribute with increased attractiveness in line with growing work from home trends. The Baltimore-Washington Corridor offers strong economic growth prospects underpinned by the Federal government and the multitude of ancillary businesses related thereto, as well to the diversified steadily expanding economy of the Baltimore MSA" said John Gochberg, Managing Principal, Chief Executive Officer, and President.

About TGM

Founded in 1991, TGM is an investment advisory firm organized to provide an integrated suite of asset and property management services to its investors through a series of fully integrated operating companies. Through its vertically and horizontally integrated operating companies, TGM specializes in acquisitions, property management, leasing, construction, property maintenance and asset management services. An affiliate of TGM provides property management services under the brand TGM Communities. As of December 31, 2021, TGM has invested in 139 multifamily properties throughout 28 states.

To learn more about?TGM?please contact?John Gochberg, Managing Principal, Chief Executive Officer, and President. Phone: (212) 830-9312, E-mail:?jgochberg@TGMAssociates.com

TGM Associates Logo. (PRNewsFoto/TGM Associates L.P.) (PRNewsfoto/TGM Associates)

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SOURCE TGM

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