The Churchill Companies Close $7.6 Million in Construction Loans for Affordable Apartment Community

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Churchill provides construction financing for 172 units of affordable multifamily housing. The High Point, North Carolina community is slated for completion in 2012.

The Churchill Companies, a financier of commercial real estate and renewable energy installations, announces the closing of a construction loan for 172 units of affordable housing to be developed in High Point, North Carolina.

Churchill Mortgage Investment, LLC provided construction financing for the development phases of the Clara Cox apartment community, which will be completed in two phases, with 80 units in phase one and 92 units in phase two. The community will include one-, two- and three-bedroom garden apartments, three-bedroom townhouses, and single-family homes. Amenities include a separate community building, a computer center, exercise and laundry facilities, and a pool and outdoor recreation areas.

“We are so excited to be in a position to begin construction on Clara Cox Homes,” said Vonzennia Gore, High Point Housing Authority vice president of housing development. “We believe that this development will provide much needed affordable housing to the residents of High Point as well as serve as a major catalyst to development in the downtown area. We are extremely appreciative of the tenacity of our development partners who have worked tirelessly to make this a reality.”

“We are very pleased to have been able to provide the financing required for this project and work with one of the Southeast’s leading real estate developers to bring quality affordable housing to the High Point community,” stated Churchill President and Chief Operating Officer Keith Gloeckl.

About The Churchill Companies
The Churchill Companies are a full-service mortgage-banking firm with its office in Clearwater, Florida. The company specializes in providing financing for commercial real estate and renewable energy installations.

Churchill Financial LLC is a member of Q10|Capital LLC and benefits from a national infrastructure enabling immediate access to real time financing data from across the country. In the past three years, Q10|Capital companies have produced over $16.5 billion in commercial finance transactions and currently service over $17 billion in commercial mortgage loans. For more information, please contact Devin Sanderson by calling (727) 461-2200, e-mailing dsanderson(at)churchillfin(dot)com or by visiting churchillfin.com.

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Devin Sanderson
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