CHICAGO, IL - American Street Capital (“ASC”) announced today that it has arranged $2.38 million in financing for a 85-unit multi-family property in Chicago, IL. The transaction closed in October, 2015.
ASC worked exclusively on behalf of their foreign national client to secure the acquisition loan for a property located in the Marquette Park area of Chicago with a correspondent conduit lender. The sponsor was a foreign national absentee owner seeking a competitive interest rate, maximum leverage, non-recourse structure, and at least a 10-year fixed term long term for his first acquisition in the Chicago MSA. In addition to sourcing the terms requested, ASC’s long standing relationship with the future management company and seller ensured an efficient financing process for all parties.
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 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