Churchill Stateside Group Closes $4.85 Million Forward Permanent Loan for Azalea Park Apartments in Summerville, South Carolina
Permanent Financing Supports the Long-Term Preservation of the 64-Unit Affordable Housing Community
Churchill Stateside Group, LLC ("CSG"), a real estate and renewable energy financial services company, is pleased to announce the closing of a $4,850,000 Forward Permanent Loan for Azalea Park Apartments, a 64-unit affordable housing community in Summerville, South Carolina. The financing, provided through Churchill Mortgage Investment LLC ("CMI"), follows CSG's earlier $10,600,000 construction loan, which supported the property's comprehensive rehabilitation and demonstrates the firm's ability to provide financing solutions throughout multiple phases of affordable housing development.
Originally constructed in 2003, Azalea Park Apartments consists of eight two-story residential buildings offering two- and three-bedroom apartment homes for families earning up to 60% of the Area Median Income (AMI). The recently completed rehabilitation modernized both the apartment interiors and community exteriors, preserving the property as a high-quality affordable housing resource for the Summerville community for years to come.
