AGC Offers Condominium Notes at 4.5% to Members

For over 26 years, AGC has financed the mortgage on its office condominium headquarters at 888 Worcester Street in Wellesley through secured notes held by member “investors.” The notes have had terms of anywhere from 2-5 years at varying interest rates amortized over a 20-year period.

36 notes expire on June 30, 2008 with a renewal rate of 4.5% for a 4-year term. Note amounts are in $11,391.20, $15,188.58, or $22,783.21 denominations. Most, if not all notes are expected to be renewed by the current investors.

One note for $22,783.21 has just become available. Therefore AGC is seeking an interested party – individuals, corporations, trusts, etc. - to secure the note on a first come, first serve basis. Should other notes become available, investors from the developed “wait list” will be contacted in the order the request was received.

Please contact Bob Petrucelli at petrucelli@agcmass.org or at 781-235-2689, ext. 14 if you are interested in becoming an AGC office condominium investor.