Chicago, IL – January 5, 2016 – American Street Capital (“ASC”) announced today that it has arranged $935,000 in financing for a mixed-use property in Brooklyn, New York.
ASC worked exclusively on behalf of the sponsors to secure the 5-year fixed loan with a correspondent commercial bank lender. The acquisition of the property was subject to a 1031-exchange deadline that required to close a loan in less than 35 days from application submission. ASC was successfully able to secure a reduced interest rate and meet all the timing constraints for the sponsors.
The loan was 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 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.
Alexander F. Rek
Director of Operations
American Street Capital