Churchill Stateside Group LLC, a real estate company, has closed on Springwood at Allen, a 92-unit new construction property that’s located in Allen, Texas.
CSG through its subsidiary Churchill Mortgage Investment provided a $12,894,500 insured loan under Department of Housing and Urban Development guidelines for the construction of multifamily properties. The Springwood is a single story/ranch style apartment property for seniors 62+ years of age. Construction began in December.
CSG offers more than 25 years of construction lending and loan administration capabilities which exceed $1.5 billion in all 50 states. “Our goal is to deliver outstanding service along with competitive rates, terms and loan proceeds,” said Keith Gloeckl, CEO of CSG. “We are especially proud of our quick turnaround times in processing construction draws for properties such as Springwood at Allen.”
CSG’s experienced team ensures that all aspects of the construction lending programs are effectively managed from application to servicing to meet the needs of clients for conventional and affordable multifamily housing loans.
“The depth of experience in our HUD underwriting team allowed us to meet the developer’s objectives of maximum loan proceeds and an early interest rate lock in a rising rate environment,” said Daniel Duda, vice president and national associate director of originations and acquisitions at CSG.
