Acquisition and Rehabilitation of an Elderly USDA RD 515 Housing Development in Avalon, California
CLEARWATER, FL, September 28, 2021 — Churchill Stateside Group, LLC (CSG), a real estate and renewable energy financial services company, is pleased to announce the closing of financing for Cantamar Villas in Avalon, California. Cantamar Villas consists of 36 one, two, three- and four-bedroom units. CSG is providing a $4.14MM USDA Rural Development 538 Construction Advance Loan, a $3.95MM Bridge Loan, underwriting the $4.14MM Bond Issuance, and facilitated the $2.3MM 515 Loan Transfer through USDA Rural Development.
Dan Duda, Senior Vice President and National Director of Originations and Acquisitions for CSG, said, “We are pleased that we can help in the rehabilitation of this existing 515 property. Our ability to be able to provide different types of services and financing, will allow our sponsor to be able to benefit from affordable financing that will ultimately help benefit the tenants by giving them a safer and more pleasant place to call home.”
Keith Gloeckl, Chief Executive Officer of CSG, added, “We are happy to participate as construction lender, permanent debt provided as well as bond underwriter on the rehab and preservation of Cantamar Village Affordable Housing apartment complex. The preservation of Cantamar is absolutely critical to keep pace with the real need to maintain and increase affordable housing.”
For more information about CSG’s multifamily finance programs and services, please contact Dan Duda, SVP and National Director of Originations and Acquisitions, at (727) 269-5198 or via email at firstname.lastname@example.org.
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, permanent, and bondfinancing solutions. With over $3 Billion of assets under 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.
© 2021 Churchill Stateside Group. All rights reserved. Churchill Stateside Securities, LLC is a wholly-owned by Churchill Stateside Group, LLC. Securities are offer though Churchill Stateside Securities, LLC, member FINRA/SIPC. Investing involves the risk of loss. Past performance is not indicative of future results.
For more information, please visit www.CSGfirst.com.
Read the press release here.