Chicago, IL – April 20, 2018 – American Street Capital (“ASC”) announced today that it has secured $3.19 million in cash-out loans for a three building, 93-unit multifamily portfolio located in the Avalon Park and Park Manor neighborhoods of Chicago, IL.
The sponsor contacted American Street Capital due to an inability to secure a cash out loan from his multi-family properties with his existing commercial bank relationships. He was looking for a 30-year amortization, maximum proceeds, and long-term fixed loan structures.
Through its established agency relationships, ASC was able to negotiate three separate 10-year fixed loans that exceeded the cash out expectations, included a 30-year amortization structure, and included the added benefit of being non-recourse and assumable.
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 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