Updated Aug 13, 2026
Churchill Stateside Group Provides $4,850,000 Permanent Loan For Azalea Park Apartments In Summerville
527 Orangeburg Road
$4,850,000
Units
64
Asset Type
MultiFamily
Closing
Aug 13, 2026
About this deal
AI
Azalea Park Apartments is a recently rehabilitated multifamily asset located at 527 Orangeburg Road in Summerville, South Carolina. The property consists of 64 affordable housing units designed to accommodate households earning up to 60% of the area median income. The transaction involved a permanent loan amount of $4,850,000 to support the financing of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,850,000
- Lender: Keith Gloeckl, Devin Sanderson & Ben Goates - Churchill Stateside Group
- Loan Type: Permanent
The financing, provided through Churchill Mortgage Investment, is aimed at replacing an existing construction loan of $10.6 million and provides long-term debt for the property while ensuring its affordability for qualifying households.
Players
Orangeburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse South Carolina multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.27%
Cash-on-Cash
-0.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93