Chicago, IL – July 26, 2023 – American Street Capital (“ASC”) announced today that it has arranged a $41.6 million loan for a five property investment portfolio located Palm Beach County.
ASC worked exclusively on behalf of their foreign national client to secure a bridge loan with a full-term interest reserve. The subject properties were a combination of occupied multi-family and vacant residential investment properties located in the Palm Beach metropolitan area.
The client required to refinance into a bridge loan that included high leverage, non-recourse, and limited pre-payment penalty to refinance a portfolio loan and release ancillary collateral for future development. This was a time sensitive transaction that required extensive structure while providing flexibility for partial releases.
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.
Contacts
American Street Capital
121 West Wacker Drive, Suite 2206
Chicago, IL 60601
312-224-1391
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