CHICAGO, IL - American Street Capital (“ASC”) announced today that it has arranges $4,178,000 cash-out refinance loan for a multifamily complex located in Riverdale, GA.
Riverdale is a city located 10 miles south of downtown Atlanta, GA. Built in 1972, the complex consists of seven 2-story buildings containing 54 two-bedroom units. On site, an additional building serves as a clubhouse and leasing office. Additional amenities include a playground, ample green space and 133 surface parking spaces.
The sponsor, a seasoned owner operator, requested a long term solution with maximum proceeds. American Street Capital facilitated the non-recourse 10-year fixed loan with five-years of interest-only payments on a 30-year amortization. The loan was placed with a correspondent agency lender.
Igor Zhizhin, a Principal of ASC, originated the loan.
About American Street Capital: American Street Capital (“ASC”) is a Chicago-based national commercial mortgage banking 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. In 2022, ASC was named a Top Financial Intermediary by Multi-Housing News, Midwest Real Estate News, and Connect Commercial Real Estate.