Churchill Stateside Group Provides $14.6 Million Permanent Term Loan Commitment in Greensboro, NC

In an era of ever-increasing rates, developer partners can benefit from term rate locks early in the underwriting process.

CSG’s ability to provide forward rate lock and issue a commitment early in the underwriting process enabled our developer partner to benefit from a favorable rate in this ever-increasing rate environment.

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 affordable housing project in Greensboro, in North Carolina. The apartment community will consist of 180 units intended for family rental. The improvements will be built using equity from the federal low-income housing tax credit. CSG has provided a permanent loan commitment of $14.6 million which will have an amortization of 40 years.

Dan Duda, Senior Vice President and National Director of Origins and Acquisitions for CSG, said, “CSG’s ability to provide forward rate lock and issue a commitment early in the underwriting process has enabled our partner developer to benefit from a high rate in this unprecedented time. rising rate environment. The ability to quickly lock in the rate of the funding process gives our partners confidence that their deal will be financially feasible. »

Keith Gloeckl (GLEK-el), CEO of CSG, added, “Churchill is proud to be part of providing more affordable housing to the community of Greensboro, NC.

For more information about CSG’s multifamily financing programs and services, please contact Dan Duda, SVP and National Director of Origins & Acquisitions, at (727) 269-5198 or by email at [email protected]

About Churchill Stateside Group

Churchill Stateside Group (CSG) and its wholly owned subsidiaries serve the affordable housing and commercial renewable energy sectors. CSG sponsors tax credit capital investment funds for institutional investors and offers a variety of construction, permanent and bond financing solutions. With over $3 billion in assets under management, CSG has long-standing and successful investment relationships with many corporate investors and pension funds. The firm’s investor and developer clients benefit from our experienced staff, prominent and proactive leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC, is a USDA Rural Development and HUD/FHA MAP and LEAN and Ginnie Mae Issuer Approved Lender.

For more information, please visit https://CSGfirst.com.

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