Chicago, IL – February 14, 2017 – American Street Capital (“ASC”) announced today that it has secured a $1.1 million permanent first mortgage to cash-out and refinance a 12-unit multi-family property in Chicago, IL. The transaction closed in December, 2016.
In order to meet the loan structure that aligned with the sponsor’s long term investment strategy, ASC was successfully able to secure the 30-year fixed, non-recourse, assumable, fully amortizing loan with a correspondent agency lender.
The loan was originated by Igor Zhizhin, the President of ASC.
About American Street Capital
American Street Capital (“ASC”) is a Chicago-based national commercial real estate finance firm with correspondent lending relationships specializing in securing balance sheet and CMBS loans for multi-family, mixed-use, student housing, mobile home parks, assisted living, hospitality, retail, office, owner-occupied properties, and traditional investment properties. With its diverse correspondent relationships ranging from private lenders to government agencies, ASC offers a consultative, customized approach to sourcing commercial real estate debt that is unique among its competitors. Focusing primarily on the more challenging transactions in the small balance segment for loans up to $50MM, ASC has established a national reputation of offering best in class customer service and loan structures that historically were exclusively available to large balance institutional clients. Further information is available at www.amstcap.com. Follow American Street Capital on Twitter @AmericanStCap.
Alexander F. Rek
Director of Operations
American Street Capital