Churchill Stateside Group Provides $4,528,000 Permanent Loan Commitment for 101-Unit Affordable Family Housing Community in North Charleston, SC
CLEARWATER, Fla.--(BUSINESS WIRE)-- Churchill Stateside Group, LLC ('CSG'), a real estate and renewable energy financial services company, is pleased to announce 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 ('CMI'), will support the development of this modern 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% and 70% of the Area Median Income (AMI), offering high-quality, affordable living options for families in the region.
Construction of the Cooper Crest Apartments is scheduled for completion in 2026.
Dan Duda, Executive Vice President, National Director of Originations & Acquisitions for CSG, commented, 'It's a privilege to support this impactful project that addresses the critical demand for affordable family housing in the Charleston area. Our forward-committed permanent loan structure continues to offer unique value to our developer partners, helping them lock in long-term financing certainty with favorable terms. Thank you to our development partners for allowing CSG to be part of the financing.'
Keith Gloeckl, Chief Executive Officer of CSG, added, 'We're proud to play a part in expanding access to affordable housing through Cooper Crest Apartments. At Churchill, we remain committed to financing developments that strengthen communities and improve quality of life for families nationwide.'
Churchill Stateside Group continues to be a leader in affordable housing finance, dedicated to advancing strong, inclusive communities through creative, client-focused capital solutions.
Looking for creative financing solutions for your next affordable housing project?
Visit us at CSGfirst.com or reach out to our production team at production@csgfirst.com.
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 $6.5 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.
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