(Logo Courtesy of Churchill Stateside Group, LLC)
Churchill Stateside Group, LLC, a real estate and renewable energy financial services company, announced the commitment of a $4,528,000 permanent loan for Cooper Crest Apartments, a 101-unit new construction affordable family housing community located in North Charleston, South Carolina.
The financing, provided through Churchill Mortgage Investment LLC, will support the development of the apartment community with a 16-year term and 35-year amortization.
The community will feature a mix of one-, two-, three-, and four-bedroom apartments, all income-restricted between 20 percent and 70 percent of the Area Median Income.
Construction of the Cooper Crest Apartments is scheduled for completion in 2026.
“It’s a privilege to support this impactful project that addresses the critical demand for affordable family housing in the Charleston area,” said Dan Duda, executive vice president, national director of Originations & Acquisitions for CSG.
Keith Gloeckl, chief executive officer of CSG, added, “At Churchill, we remain committed to financing developments that strengthen communities and improve quality of life for families nationwide.”
CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction, permanent, and bond financing solutions.
With over $6.5 billion of assets under management, CSG has investment relationships with numerous corporate investors.
The company, through its subsidiary Churchill Mortgage Investment LLC (CMI), is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer, seller, and servicer.
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