Chicago, IL – June 19, 2015 – American Street Capital (“ASC”) announced today that it has arranged $1.36 million in financing for a 31-unit mixed-use property in Chicago, IL. The transaction closed in May, 2015.
ASC worked exclusively on behalf of their client to secure a 15-year, fully amortizing, non-recourse, assumable loan for the mixed-use property located in the Rodgers Park community of Chicago. The client was a long time owner requiring a sizeable cash out from the property with a non-recourse, long term fixed and fully amortizing loan structure that commercial banks were not able to provide. ASC was successfully able to source a very competitively priced solution that met all the needs of the client through a correspondent agency lender.
The loan was co-originated by James R. Bogard, Chief Credit Officer, and 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 $30MM, 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.
American Street Capital