Churchill Stateside Group Closes $9.82M Historic Tax Credit Transaction

PR Web

(PRWEB) January 25, 2017

Churchill Stateside Group, LLC (CSG), a real estate and renewable energy financial services company, is pleased to announce the closing of Kiser Building Lofts, a 41-unit historic property located in Atlanta, GA. CSG is providing a $7.6M interim construction facility and a $6.7M fixed rate permanent loan commitment. Churchill also acquired $2.1M in state and federal historic tax credits.

The Kiser Building is a former shoe factory built in 1914 and most recently was used as Atlanta Public Schools' headquarters before they built a new building next door. Keith J. Gloeckl, CEO of CSG stated "We are most pleased to provide the construction and permanent debt along with tax credit equity required to preserve and repurpose the Kiser Building into loft apartments. CSG will also continue to provide debt and equity financing on historic properties as we firmly believe the preservation of such properties is an important part of our history and heritage."

About Churchill Stateside Group

Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction and permanent financing solutions. CSG has long-standing and successful investment relationships with numerous corporate investors, pension funds, and insurance companies. 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, is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer.