Churchill Stateside Group Provides $5,615,000 FHA/HUD 221(d)(4) Construction Loan and $9,500,353 Equity Bridge Loan for Retreat at Esther in Houston, Texas

CLEARWATER, Fla.–(BUSINESS WIRE)–Churchill Stateside Group, LLC (“CSG”) is pleased to announce the closing of a $5,615,000 FHA/HUD 221(d)(4) construction and permanent loan and a $9,500,353 equity bridge loan for Retreat at Esther, a new 103-unit senior affordable housing community in Houston, Texas.

The four-story development includes 77 one-bedroom and 26 two-bedroom units, plus a clubhouse/leasing office. All units are encumbered by 9% Low-Income Housing Tax Credit (LIHTC) restrictions, ensuring they are leased to income-qualified seniors aged 62 and older. The unit mix includes 11 units at or below 30% of Area Median Income (AMI), 29 units at or below 50% AMI, and 63 units at or below 60% AMI.

Blair Henderson, VP, Originations Officer for CSG, stated:

“Retreat at Esther required a coordinated financing structure to align HUD-insured construction and permanent financing with the 9% tax credit equity timeline. By combining FHA 221(d)(4) financing with an equity bridge loan, we delivered a seamless capital solution that keeps the project on track and supports timely delivery of senior housing.”

Keith Gloeckl, Chief Executive Officer of CSG, added:

“This closing highlights our ability to structure complex financing solutions that preserve affordability while meeting the unique needs of seniors. Retreat at Esther reflects CSG’s continued commitment to delivering much-needed affordable housing in high-demand markets.”

Churchill Stateside Group remains a national leader in multifamily and affordable housing finance, providing capital solutions through HUD, USDA, renewable energy, and tax credit programs.

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]