USDA Rural Development 538 Permanent Loan Financing recently enabled an Abbington Ranch property to become a more feasible operation. Financing was recently secured for this 48-unit new affordable housing project in Boerne. Construction finished in mid-2020 with stabilization in December 2020.
Permanent sources consist of Federal Low Income Housing Tax Credit Equity and the RD 538 financing. Churchill Stateside Group LLC (CSG) is providing the $4.8 million in USDA Rural Development 538 permanent financing.
“The affordability of the USDA Rural Development 538 Program allows our client to run the operations of the property at a very affordable level,” said Dan Duda, senior vice president and national director of originations and acquisitions for CSG.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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