Chicago, IL – January 18, 2022 – American Street Capital (“ASC”) announced today that it has secured a $5,968,000 cash-out refinance loan for a 152-unit multifamily located in St. Robert, Missouri.

St. Robert is in central Missouri approximately 132 miles from St. Louis and is home to Fort Leonard Wood.  Fort Leonard Wood is one of five basic training facilities for the United States Army.  The two complex multifamily portfolio consists of one- and two bedroom apartments all with individually metered utilities.  Additional amenities include 28 attached garages, 356 surface parking spaces, and in-unit laundry.  The asset was over 95 percent occupied at closing.

The sponsor, a seasoned owner operator, recently completed his value-add plan on the multi-family portfolio.  To align with his long-term investment strategy, he requested a sizeable cash-out and a long term fixed loan.  The non-recourse, fully assumable loan was structured with a 10-year fixed term on a 30-year amortization schedule.  The loan was placed with a correspondent agency lender.

Igor Zhizhin, the President 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 NewsMidwest 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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Chicago, IL – October 12, 2022 – American Street Capital (“ASC”) has announced the funding of a $1 million bridge loan for the acquisition of a 7-unit mixed-use building in Chicago, IL.

Located in the Rogers Park neighborhood of northern Chicago, the mixed-use asset is directly next door to a CTA Brown line stop and in proximity to Lake Shore Drive.  The two-story building contains 5 retail units occupied by various neighborhood merchants and two apartments.

The out of state seller required the buyer to close within 3 weeks or lose their earnest money. The first time commercial real estate buyer required closing assurance, limited pre-payment and a pre-approval from a conventional lender prior to proceeding.  The first lien mortgage was provided by ASC SBL at the request loan amount, on the request closing date, and without a pre-payment penalty. This was the first of its proprietary bridge fund that launched earlier this month. ASC’s mortgage banking division successfully refinanced the loan with a commercial bank correspondent in exactly 30 days with a cash out and a 5-year term at a market competitive rate.

Both loans were originated by Igor Zhizhin, the President of ASC.

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 2021, ASC launched an office in Tampa, FL and was named a Top Financial Intermediary by Multi-Housing NewsMidwest Real Estate NewsConnect Commercial Real Estate and Commercial Property Executive.

Contacts
American Street Capital
121 West Wacker Drive, Suite 2206
Chicago, IL 60601
312-224-1391
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Chicago, IL – October 4, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $1.6 million bridge loan for a 32-unit multifamily located in Omaha, NE.

Situated along the Missouri River across from Council Bluffs in Southern Omaha the three building, garden style multifamily complex is situated on 2.55 acres.  The unit mix consists of one-, two-, and three-bedroom apartments with an average size of 805 square feet.  The complex’s amenities include 64 surface parking spaces, a playground, and common laundry.  The asset was 100 percent occupied at closing

The loan was structured with an 18-month term consisting of interest-only payments and was placed with a correspondent debt fund.

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 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 2021, ASC launched an office in Tampa, FL and was named a Top Financial Intermediary by Multi-Housing NewsMidwest Real Estate News, Connect Commercial Real Estate and Commercial Property Executive.

Contacts
American Street Capital
121 West Wacker Drive, Suite 2206
Chicago, IL 60601
312-224-1391
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Chicago, IL – September 20, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $2 million loan for the acquisition of a 42-unit multifamily located in Moline, IL.

Moline is located on the border of Illinois and Iowa in the Quad cities.  The four-story building was built in 1965 and contains 16 one-, and 26 two-bedroom apartments with an average size of 822 square feet.  The building features an underground parking garage containing 20 spaces, 50 outdoor spaces, onsite laundry, and an elevator.  The asset was over 97 percent occupied at closing.

The loan was structured with a 12-year term consisting of an initial 5 years of interest-only payments.  The loan featured a non-recourse, fully assumable structure on a 30-year amortization schedule.  The loan was placed with a correspondent agency lender.

The loan was originated by Alexander F. Rek, a Principal of ASC.

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 2021, ASC launched an office in Tampa, FL and was named a Top Financial Intermediary by Multi-Housing NewsMidwest Real Estate NewsConnect Commercial Real Estate and Commercial Property Executive.

 

Chicago, IL – July 7, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $3,938,000 cash-out refinance loan for a 32-unit multifamily building in Chicago’s Logan Square.

Built in 1926 and located in the heart of Logan Square, the building is within walking distance of the neighborhoods shopping, dining, and entertainment. The three-story multifamily building is composed of 6 studios, 24 one-, and 2 two-bedroom apartments, with an average size of 600 square feet.  Additional amenities include secure entry, bike storage and common laundry. The asset was 100 percent occupied at closing.

The sponsor, a seasoned owner operator, requested a long term fixed loan to support his investment horizon. American Street Capital arranged the non-recourse, 20-year loan term consisting of 10-years fixed and 10-years floating on a 30-year amortization schedule. The loan was placed with a correspondent agency lender.

The loan was originated by Igor Zhizhin, the President, and Founder of ASC.

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 2021, ASC launched an office in Tampa, FL and was named a Top Financial Intermediary by Multi-Housing NewsMidwest Real Estate NewsConnect Commercial Real Estate and Commercial Property Executive.

Contacts
American Street Capital
121 West Wacker Drive, Suite 2206
Chicago, IL 60601
312-224-1391
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Chicago, IL – May 17, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $3.88 million cash-out refinance for a 57-unit multifamily portfolio located in Chicago, IL.

The sponsor, a seasoned owner operator, wanted to take advantage of historically low interest rates and secure long-term debt to support his investment strategy.  The two-building multifamily portfolio located in the South Shore neighborhood of Chicago is comprised of both one- and two-bedroom apartments.  The buildings cater to a mix of both market and subsidized tenants providing workforce housing in the area.

The refinances were structured with a 20-yr term consisting of an initial 10-years fixed term followed by a 10-year floating period.  The loans featured a non-recourse, fully assumable structure on a 30-year amortization schedule.  The loans were placed with a correspondent agency lender.

Alexander F. Rek, a Principal of ASC, originated the loans.

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 2021, ASC launched an office in Tampa, FL and was named a Top Financial Intermediary by Multi-Housing NewsMidwest Real Estate NewsConnect Commercial Real Estate and Commercial Property Executive.

Contacts
American Street Capital
121 West Wacker Drive, Suite 2206
Chicago, IL 60601
312-224-1391

 

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