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Texas   /   February 19, 2021

Lisa Brown
By: Lisa Brown

RD 538 Financing Gives Way to More Affordable Operations

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.

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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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