Chicago, IL – August 11, 2015 – American Street Capital (“ASC”) announced today that it has arranged a $9.5 million in commercial loan financing for a portfolio of investment residential properties in Manhattan, Kings, and Suffolk Counties in the State of New York. The transaction closed in July, 2015.
ASC worked exclusively on behalf of their foreign national client to secure a short-term bridge loan with a full-term interest reserve with a correspondent private equity lender. The subject properties were all vacant residential investment properties located in three separate counties all situated within the New York metropolitan area.
The client required a short-term bridge loan that included a significant cash out and no pre-payment penalty to consolidate his obligations and make an investment into another venture. This was a time sensitive transaction that required extensive structure while providing complete flexibility to pay down the loan at any time.
The loan was originated by Igor Zhizhin, 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