Unfunded Forward Permanent Commitment foran Affordable New Construction project in Florida
CLEARWATER, FL, January 11, 2022 —
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 Orlando, FL. The apartment community will consist of 91 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 $6.3MM permanent loan commitment.
Michael Spain, Vice President of the Southeast region for CSG, said, “We are excited to provide the permanent financing for this new construction 4% bond deal through our P-TEL Program. The 91-unit project will provide high quality apartments that will aid in the demand for safe affordable housing for the residents of Orlando.”
” We are excited to provide the permanent financing for this new construction 4% bond deal through our P-TEL Program. “
Keith Gloeckl (GLEK-el), Chief Executive Officer of CSG, added, “Churchill is pleased to provide financing for much needed affordable housing for the Orlando community.”
For more information about CSG’s multifamily finance programs and services, please contact your local CSG origination partner.
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.