CLEARWATER, Fla.–(BUSINESS WIRE)–Churchill Stateside Group (“CSG”), a multifamily real estate and renewable energy financial services company, is pleased to announce the closing of a $9,000,000 construction loan and a $2,300,000 forward permanent loan commitment for Wisdom Woods Apartments, a 22-unit affordable family housing 9% Low Income Housing Tax Credit (LIHTC) community located in Peachtree City, Georgia.
The construction loan was provided through Churchill Mortgage Construction LLC (CMC), while the forward permanent loan commitment was issued through Churchill Mortgage Investment LLC (CMI). The financing supports the rehabilitation of the existing apartment community, originally constructed in 1984.
Wisdom Woods Apartments consists of six residential buildings with 22 two-bedroom and one-bathroom units serving income-qualified families. The community maintains long-term affordability, with 100% of the units restricted to households earning up to 60% of Area Median Income (AMI).
The property is supported by a project-based HUD Section 8 Housing Assistance Payments (HAP) contract that provides rental assistance for residents. The rehabilitation is being completed as part of a 9% LIHTC redevelopment, helping preserve long-term affordability for residents.
Dan Duda, Executive Vice President, National Director of Originations & Acquisitions for CSG, stated:
“Wisdom Woods Apartments represents an important rehabilitation effort that will improve an existing affordable housing community while maintaining long-term affordability for residents. Our team worked closely with the sponsor to structure both the construction and forward permanent financing needed to successfully execute the redevelopment.”
Keith Gloeckl, Chief Executive Officer of CSG, added:
“This closing highlights CSG’s ability to deliver coordinated construction and permanent financing solutions for affordable housing developments. By providing both phases of debt, we take pride in helping move projects like Wisdom Woods forward efficiently while continuing to serve residents and communities.”
Churchill Stateside Group remains a leader in affordable housing finance, delivering creative, client-focused capital solutions that support strong communities nationwide.
Visit CSGfirst.com or contact CSG’s production team at [email protected] to learn more.
About Churchill Stateside Group
Churchill Stateside Group and its wholly owned affiliates (CSG) 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 $6 Billion of assets under management, CSG has long-standing and successful investment relationships with numerous corporate investors. 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 (CMI), is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer, seller, and servicer.
Contacts
Press Release Contact
Carter Daignault
(727) 233-0614
[email protected]
