Keith Gloeckl & Blair Henderson Of Churchill Stateside Group Provide $15.1M Loan For Retreat At Esther

The asset involved in the transaction is a development site located at the intersection of Esther Drive and Wheatley Street in Houston. This site is designated for a senior affordable housing project known as Retreat at Esther, comprising 103 units specifically catering to income-qualified seniors aged 62 and older. The project will consist of a four-story building with units earmarked for affordability at 30%, 50%, and 60% of the area's median income.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $15,115,353
• Lender: Keith Gloeckl & Blair Henderson - Churchill Stateside Group
• Loan Amount: $5.6 million FHA/HUD 221(d)(4) construction-to-perm loan
• Additional Loan: $9.5 million equity bridge loan
• Market: Houston
• Project Type: Senior affordable housing
• Compliance: Restricted under 9% LIHTC guidelines

Keith Gloeckl and Blair Henderson represented the lender, Churchill Stateside Group, in this transaction, overseeing the financial aspects related to the senior housing project. Their involvement included facilitating the loan arrangements essential for the development's realization.