New Construction Housing Project in Valdese, NC Made Possible with a USDA-RD 538 Option 3 Construction Advance Loan and Equity Bridge Loan.
VALDESE, NC November 28th, 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 housing project in Valdese, NC. The community will consist of 66 units catering to family tenancy. The capital stack consists of a USDA Rural Development 538 Option 3 Construction Advance Loan, Low Income Housing Tax Credit Equity, and a Bridge Loan.
Dan Duda, Senior Vice President and National Director of Originations and Acquisitions for CSG, said, “CSG’s ability to provide both the USDA Rural Development 538 Loan and Bridge Equity Loan, gives our development partner seamless and efficient construction loan financing. We are proud to help finance this project as this will have a positive impact on the Valdese community.”
“CSG’s ability to provide both the USDA Rural Development 538 Loan and Bridge Equity Loan, gives our development partner seamless and efficient construction loan financing.”
Keith Gloeckl (GLEK-el), Chief Executive Officer of CSG, added, “The RD 538 Multifamily Lending Program is an excellent program to serve the multifamily markets in rural America. With this program, which provides a government guarantee, Churchill is able to provide very competitive fixed rate financing.
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 (CSG) and its wholly owned affiliates serve the affordable housing and commercial renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction, permanent, and bond financing 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.
For more information, please visit www.CSGfirst.com.
Read the press release here.