Conventional Construction Loan and Forward Permanent Commitment for an Affordable New Construction project in Tennessee.
CLEARWATER, FL, October 07, 2021 — Churchill Stateside Group, LLC (CSG), a real estate and renewable energy financial services company, is pleased to announce the closing of financing for a new-construction affordable housing project in Knoxville, Tennessee. The apartment community will consist of 80 units catering to family tenancy. The improvements will be constructed utilizing Federal Low-Income Housing Tax Credit Equity and conventional loan financing. CSG will be providing a $10.5M construction loan and a $9.34M permanent loan commitment.
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Michael Spain, Vice President of the Southeast region for CSG, said, “We are pleased to participate as the construction and permanent lender for another Private TEL in the city of Knoxville, Tennessee. We look forward to the completion of this new construction project that will help serve the demand for safe affordable housing in the local community.”
” We look forward to the completion of this new construction project that will help serve the demand for safe affordable housing in the local community. “
Keith Gloeckl, Chief Executive Officer of CSG, added, “Churchill is pleased to provide construction and fixed rate perm debt for this much needed affordable housing within the city of Knoxville.”
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 dduda@csgfirst.com.
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.