Clearwater, FL (PRWEB) January 18, 2011
The Churchill Companies, a financier of commercial real estate and renewable energy installations announces the closing of a construction loan for 20 units of affordable housing to be developed in Omak, Washington.
Through its subsidiary, Churchill Mortgage Investment, LLC, Churchill arranged the financing utilizing private debt with several investors participating in the construction loan. The investor group was attracted to the Omak development due to the relative safety of the well-collateralized investment opportunity and the record of accomplishment of the parties involved and closed on the transaction satisfied with an excellent market return.
Gregory J. Demars of Honigman Miller Schwartz and Cohn LLP was instrumental in completing the participation agreement for investors. Mr. Demars has long been active in representing parties in construction and permanent financing of affordable housing, commercial real estate and alternative energy projects. He is the co-chair of the Affordable Housing Practice Group and consistently recognized as one of the best lawyers in America.
Keith Gloeckl, President and CEO of The Churchill Companies commented, "We are fortunate to work with a dedicated, visionary team of developers, investors and advisers who are clearly tops in their fields to help bring this project to fruition.” This development brings much-needed affordable housing to the Omak, Washington community.
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 Stateside Group serves the affordable housing industry by sponsoring tax credit investment funds for institutional investors and offering financing to developers of multifamily housing 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)Q10Churchill(dot)com or by visiting http://www.churchillfin.com or http://www.churchillstateside.com.