Churchill Stateside Group Provides $14M FHA/HUD Loan for Lakeview Terrace Apartments

The financing supports the stabilization and long-term affordability of the 200-unit family community in Augusta, Georgia.

Jan. 29, 2026 at 1:55pm

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Churchill Stateside Group, LLC (CSG) has closed a $14 million FHA 223(f) permanent loan for Lakeview Terrace Apartments, a recently completed 200-unit family apartment community located in Augusta, Georgia. The FHA/HUD 223(f) loan provides long-term, fixed-rate financing for the newly constructed property, which has all units restricted to households earning up to 60% of the Area Median Income (AMI).

Why it matters

The FHA/HUD 223(f) financing helps support the stabilization and long-term affordability of Lakeview Terrace Apartments, a newly built affordable housing community in Augusta. This type of HUD-insured refinancing is an effective solution for developers transitioning from construction to permanent financing while preserving the property's long-term affordability.

The details

In addition to the Churchill FHA/HUD 223(f) loan, the project also received an allocation of 4% Federal and Georgia State Low Income Housing Tax Credits. The financing will help maintain the property's affordability restrictions for low-income residents.

  • The $14 million FHA 223(f) permanent loan for Lakeview Terrace Apartments closed on January 29, 2026.

The players

Churchill Stateside Group, LLC

A national leader in multifamily and affordable housing finance, providing capital solutions through HUD, USDA, renewable energy, and tax credit programs.

Lakeview Terrace Apartments

A recently completed, 200-unit family apartment community located in Augusta, Georgia, with all units restricted to households earning up to 60% of the Area Median Income (AMI).

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What they’re saying

“FHA/HUD 223(f) financing is an effective solution for developers seeking long-term, permanent capital following the completion of new construction or rehabilitation. Lakeview Terrace Apartments is a strong example of how HUD-insured refinancing can support stabilization while preserving long-term affordability.”

— Dan Duda, Executive Vice President, National Director of Originations & Acquisitions

“Our team specializes in helping developers transition from construction and lease-up to permanent financing. This closing demonstrates our ability to execute FHA 223(f) refinances on newly delivered affordable housing communities.”

— Keith Gloeckl, Chief Executive Officer

What’s next

Churchill Stateside Group will continue to work with developers to provide HUD-insured financing solutions that support the stabilization and long-term affordability of newly constructed affordable housing communities.

The takeaway

The FHA/HUD 223(f) financing for Lakeview Terrace Apartments demonstrates how specialized lenders can help preserve the affordability of newly built multifamily properties, even as they transition from construction to permanent financing.