Churchill Stateside Group, LLC (CSG) announced the closing of financing for the preservation and rehabilitation of a 14-property USDA Rural Development 515 portfolio in North Carolina. This portfolio consists of existing apartment communities totaling 383 total units. Churchill Mortgage Investment LLC, a subsidiary of CSG, is providing the $11,282,000 of USDA Rural Development 538 debt for the rehabilitation of these existing communities. Additionally, Churchill Stateside Securities, LLC is assisting in the bond underwriting of the $15,200,000 of short-term tax-exempt bond issuance. In addition, the financing includes the allocation of four percent LIHTC Equity. All 14 of these multifamily sites will aim to help the preservation of affordable housing in multiple counties throughout the state.
Related Posts
X-Caliber Closes First Rural PACE-X Transaction
X-Caliber announced it closed a $26.3MM financing with its first Rural PACE-X transaction for the ground-up construction of a new hotel in Silverthorne, CO. When complete, the 111-room hotel will be a Holiday Inn Express brand under IHG Hotel & Resorts.
KeyBank Continues to Expand its Community Development Lending and Investment Team
KeyBank Community Development Lending and Investment (CDLI) expands its team with appointments of fund and equity relationship managers in the West and Midwest regions.
Dominium Announces the Land Acquisition for Sage at Franklin Park in Austin
Dominium announced it has closed a deal to acquire land for the development of Sage at Franklin Park, a new community of affordable apartment homes.
Dominium’s Paul Sween to be Inducted into the Affordable Housing Finance Hall of Fame
Dominium announced that Senior Managing Partner Paul Sween is being inducted into the Affordable Housing Finance Hall of Fame.