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
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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

 

Chicago, IL – March 22, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $3.2 million cash-out refinance loan for a 33-unit multifamily building in Baltimore, MD.

Located approximately 5 miles west of the Baltimore central business district, the Forest Park neighborhood is primarily residential with proximity to Lake Ashburton.  Built in 1940, the three-story multifamily building consists of 33-units with a unit mix of studio, one-, two-, and three-bedroom apartments.  The complex was over 97 percent occupied at closing.

ASC was exclusively engaged to arrange the cash-out refinance loan for the asset.  The loan structure consisted of a non-recourse, 10-year fixed term with 3-years of interest-only payments.  The loan was placed with a correspondent agency lender.

Igor Zhizhin, the Founder and 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 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 – January 31, 2022 – American Street Capital (“ASC”) announced today that it has arranged a $3,080,000 cash-out refinance bridge loan for a 100-unit multifamily building in Shaker Heights, OH.

Shaker Heights is an affluent suburb of Cleveland located on the eastern edge of the city limits.  The building is within walking distance of Shaker Square a shopping, dining, and entertainment district.  The six-story mid-rise multifamily building is composed of 30 studios and 70 one-bedroom apartment, with an average size of 576 square feet.  Common amenities include an elevator, common laundry facilities, 82 parking spaces and on-site security.

The sponsor, an active owner operator, requested a high leverage short-term loan to update the asset prior to taking it into long term permanent debt.  American Street Capital arranged the 18-month interest-only loan, which provided the necessary proceeds to make the desired improvements.  The loan was placed with a correspondent debt fund.

Kyle Tyrrell, a First Vice 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 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.

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