Chicago, IL – December 30, 2017 – American Street Capital (“ASC”) announced today that it has arranged $14.25 million loan for a 158-unit multifamily high rise located in downtown Orlando, FL.
Built in 1961, the nine story multi-family tower contains a total of 158-units with a unit mix of one, two and three bedroom apartments. In addition to its central location, the property’s amenities include 213 parking spots, onsite leasing office, security office, tenant lounge, three passenger elevators, fitness center, swimming pool and common laundry facilities.
ASC exclusively represented the sponsor to secure the cash-out refinance securing maximum proceeds to fund capital expenditures and updating. The loan featured a 10-year fixed term, non-recourse structure, on a 30-year amortization schedule. The loan was placed with a correspondent agency lender.
The loan was co-originated by Igor Zhizhin, the President of ASC and Alexander F. Rek, the Director of Operations.
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