Chicago, IL – August 14, 2018 – American Street Capital (“ASC”) announced today that it has arranged $1,650,000 acquisition loan for a single tenant NNN leased light industrial building located in Wheeling, IL.
Located 23 miles northwest of Chicago, the two story, 29,814 SF light industrial building built in 1975 is the corporate headquarters for a national restoration company. Building amenities include loading docks, an elevator, and 54 surface parking spots.
The sponsor required a max leverage and a long term loan structure that mitigated roll risk towards the end of the tenant’s lease term. ASC sourced a non-recourse, 10-year fixed term on a 25-year amortization at a 75% advance. The loan was placed with a correspondent CMBS lender.
The loans were 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 multifamily, 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