Conventional Construction Loan and Forward Permanent Commitment for an Affordable New Construction project in Tennessee
CLEARWATER, FL, January 04, 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 Knoxville, Tennessee. The apartment community will consist of 66 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 $9MM construction loan and a $7.2MM permanent loan commitment.
Michael Spain, Vice President of the Southeast region for CSG, said, “We at Churchill Stateside Group are proud to be financing both the construction and permanent phases of another new construction 4% bond project in Knoxville, TN. Inskip Flats will serve the neighborhood in a multitude of significant ways, which includes new homes for up to 66 families in the local community.”
” Inskip Flats will serve the neighborhood in a multitude of significant ways, which includes new homes for up to 66 families in the local community. “
Keith Gloeckl (GLEK-el), Chief Executive Officer of CSG, added, “Churchill is very pleased to provide construction and permanent financing on much needed affordable housing in Knoxville, TN.”
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.