Chicago, IL – November 20, 2014 – American Street Capital (“ASC”) announced today that it has arranged $1.52 million in financing for a single tenant retail property in Smyrna, Tennessee.
ASC worked exclusively on behalf of their client to secure the 5-year, non-recourse loan with a correspondent conduit lender. Ownership was challenged to find a desirable structure prior to loan maturity due to the small loan size and being in a tertiary submarket. ASC successfully assisted the owner with obtaining a low interest, non-recourse loan with pricing, amortization, and structure not offered by local lenders.
The loan was originated by Alexander F. Rek, a Vice-President at 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 individuals 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