Multifamily Debt & Equity

Daniel Duda
Senior Vice President, National Director of Originations and Acquisitions
Dan Duda is Senior Vice President, National Director of Originations and Acquisitions. Dan is responsible for overseeing debt and equity origination for both affordable and market rate properties across the United States. Dan previously served CSG as the National Associate Director of Originations and Acquisitions, East Coast Regional Director of Originations and Acquisitions, and as an Underwriter. Throughout his career, Dan has been responsible for originating loan and equity transactions totaling more than $500M. Prior to joining CSG in 2013, Mr. Duda served as a Financial Analyst at Investors Bank in New York City. He focused primarily on originating and underwriting multifamily, mixed-use, retail, and industrial loans in the Northeast. He holds a Bachelor of Science degree in Finance from East Carolina University. Mr. Duda sits on the Board of the Council for Affordable and Rural Housing (CARH) and is a frequent speaker at many industry events across the country.
View Bio ▼
Email DanConnect with me on LinkedIn
Allan K. Rugg
Vice President, FHA/HUD Multifamily and Healthcare Finance Officer
Allan K. Rugg is an HUD/FHA Originator for Churchill State Group working from the company’s Maryland office. He is responsible for originating HUD insured mortgage loans for multifamily, senior housing projects and healthcare facilities.

Allan’s clients include developer and owners of market rate and senior housing projects as well as assisted living facilities and skilled nursing facilities. Allan has 38 years of experience in commercial real estate loan originations which includes 21 years originating FHA/HUD Multifamily and Healthcare Finance. In addition is also an experienced FHA underwriter and has held both MAP and Lean designations with HUD.

Prior to joining Churchill State Group, Allan worked as FHA/HUD originator for Gershman Mortgage, Cosmopolitan Capital Funding L.L.C., Great Lakes Financial Group L.P, Arbor Commercial Mortgage L.L.C. , Evanston Financial Corporation, MMA Financial L.L.C. and Quaker Capital L.P.
View Bio ▼
Email AllanConnect with me on LinkedIn
Alex Holverson, MSRE
Vice President, Midwest Regional Officer
Alex Holverson is the Vice President, Midwest Regional Officer for Churchill Stateside Group, working from the company’s Chicago office. Alex is responsible for debt and equity originations on affordable and market-rate properties across the Midwest Region. For 5 years Alex was the Production Manager and VP of Production for CSG, responsible for structuring debt and equity financing on new projects to prepare them for underwriting. In addition he was also the liaison for CSG’s warehouse sources, managing the terms and conditions of various debt and equity products. Prior to joining CSG, Mr. Holverson was a commercial property claims adjuster for a nationally recognized insurance company. Mr. Holverson received his Master’s in Real Estate from the University of South Florida, and a BS in Finance with an emphasis on Real Estate from the University of Missouri.
View Bio ▼
Email AlexConnect with me on LinkedIn
Sean Smith
Vice President, Production Manager
Sean Smith is the Vice President, Production Manager for Churchill Stateside Group and is responsible for the risk analysis of potential debt and equity investments with finance structures utilizing tax credits and various government and conventional loan programs. Mr. Smith holds a Florida State Certified-General Appraisal license with a background in commercial real estate valuations and market feasibility analysis. Prior to joining Churchill Stateside Group, Mr. Smith was employed with Value Tech Realty Services as a staff appraiser and market analyst. He specialized in HUD MAP feasibility studies and valuations for both affordable and market-rate apartments. In addition, Mr. Smith consulted for multifamily developers and advised regarding due diligence, development trends, and site selection. Mr. Smith graduated from the University of South Florida with a Bachelor of Science degree in Finance. Prior to returning to school and completing his degree, he served seven years in the U.S. Army.
View Bio ▼
Email Sean
Michael E. Spain, Esq.
Vice President, Southeast Regional Officer
Michael Spain is Vice President, Southeast Regional Production Officer for Churchill Stateside Group. Mr. Spain is responsible for originating debt and equity solutions for new construction, rehabilitation, acquisition and refinancing of both affordable housing and market rate properties within the eastern region of the United States.

Prior to joining CSG, Michael was an associate attorney for Hamilton, Miller & Birthisel, LLP where he primarily focused on defending maritime and transportation claims. He also practiced in the areas of insurance defense, insurance coverage, property and casualty, workers compensation and wrongful death and personal injury defense.

Michael obtained his Juris Doctor from Florida Coastal School of Law; earning the book award in Trusts & Estates Drafting. During law school, Michael was a member of the Mock Trial team and a legislator for the Student Bar Association. As an advocate, he placed runner-up at the Carolinas Mock Trial Tournament and was a finalist in the Spohrer & Dodd Closing Arguments Competition.

Prior to law school, Michael worked as an assistant project manager and quality inspector for a residential construction company based in Amelia Island, Florida. He was in charge of preparing contracts and estimates and reviewing construction and building plans to ensure compliance with current building codes, local ordinances and zoning regulations. In his spare time, Michael is an avid golfer and stays involved in his community.

View Bio ▼
Email MichaelConnect with me on LinkedIn
Guy Spieler
PRESIDENT, Churchill Stateside Securities (LLC)
Mr. Spieler is President with over 30 years of municipal bond experience. He will be responsible for underwriting of bonds created through 4% LIHTC projects for Churchill Stateside Securities institutional accounts and for expanding the bond underwriting/trading platform as additional opportunities are presented. At his most recent firm in Chicago, Guy opened an office and started a municipal bond underwriting group that participated in over 400 municipal bond transactions. These municipal bond deals totaled over $5.6 billion in par amount in the most recently completed calendar year. In addition to his underwriting role, Mr. Spieler was also a secondary trader in the municipal bond market working with five institutional salespeople as well as 30 generalists. Previous major firms where Mr. Spieler worked include Lehman Brothers, Banc One and Incapital LLC. Mr. Spieler graduated from the State University of New York at Buffalo and holds B.S. in Business Administration. He currently holds Series 7, 24, 50, 53, 54 and 63 licenses.
View Bio ▼
Email Guy☛ Check the background of this investment professional on

Production officers are assigned based on the location of the development team and not the project.

Send us a note or contact your region’s dedicated origination officer directly.