Financing of 200 Affordable Housing Units located in Wilmington, North Carolina
CLEARWATER, FL, October 19, 2017 — Churchill Stateside Group, LLC (CSG), a real estate and renewable energy finance company, is pleased to announce the closing of a $16,333,600 HUD 221(d)(4) bond financing transaction. Churchill also provided the bond underwriting information for the placement of the bonds totaling an additional $14,000,000. The financing is for the construction of a 200-unit Multifamily 4% Low Income Housing Tax Credit development located in Wilmington, North Carolina.
Keith J. Gloeckl, Chief Executive Officer of CSG, stated “We are excited to not only offer the HUD 221(d)(4) product but that Churchill was also responsible for facilitating the bond placement through a relationship of our affiliate company, Churchill Stateside Securities, LLC.”
Dan Duda, Vice President of CSG, commented “Providing both the HUD 221(d)(4) execution coupled with facilitating the placement of the bonds provided a more efficient and seamless experience for the Borrower.”
About Churchill Stateside Group
Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. With over $1 Billion under asset management, CSG has long-standing and successful investment relationships with numerous corporate investors and pension funds. The company’s investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.
For more information, please visit www.CSGfirst.com.