Chicago, IL – August 9, 2018 – American Street Capital (“ASC”) announced today that it has arranged $1.8 million in financing for an eight unit multifamily property in Chicago’s Old Town neighborhood.
American Street Capital exclusively represented the sponsor to secure the acquisition loan for a multifamily property located in the Old Town neighborhood of Chicago, IL. The multifamily building built in 1907 and renovated in 2017 consists of 8 residential units with a unit mix of one and two bedroom apartments. Additional amenities include in-unit washer and dryers, large balconies, stainless steel appliances, secured entry and garage parking.
Through its established correspondent relationships, ASC was able to secure a 7-year term, high leverage, non-recourse, fully assumable loan on a 30-year amortization schedule.
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 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