The Churchill Cos. and Stateside Capital have teamed to establish a new low-income housing tax credit syndication firm.
Churchill Stateside Group (CSG) announced that it is raising equity for tax credit syndications and pursuing lending opportunities and green building initiatives in which to invest. CSG also plans to be active in other tax credits, including historic, state historic, and energy, based on investor demand.
The new firm is led by President and CEO Keith Gloeckl, who has more than 25 years in tax credit syndication and multifamily finance.
He formed The Churchill Cos, a Clearwater, Fla.-based mortgage banking firm, in 2005. Prior to that, he founded and served as president and COO of The Midland Cos. from 1988 until 1999, when it was sold to MuniMae.
The new firm also involves Atlanta-based Stateside Capital. Led by Richard Beacham, the company is a leading syndicator of state tax credits in Georgia.
CSG brings together a seasoned group of industry veterans, said Gloeckl.
Christopher Martiner will lead CSG’s developer originations group as executive vice president. He founded CayCap Advisors, Inc., an origination and advisory firm for direct tax credit investors and developers. Martiner has also held posts at Alliant Capital, Boston Capital, Raymond James, and Ocwen Financial.
CFO Marcus Griffin is responsible for investor fund management. He has 17 years in affordable housing and has worked with Ernst & Young, Novogradac & Co., and Reznick Group.
Director of Asset Management Tom Vandegrift has more than 20 years of real estate asset management experience, including directing asset management for tax credit syndicators. He has worked with The Midland Cos., MMA Financial, and Credit Suisse.
Senior Vice President Devin Sanderson will be involved in CSG’s fund management functions and underwriting tax credit properties. He has been with Churchill since its formation.