REBusinessOnline

American Street Capital Arranges $13.6M Refinancing for 20-Property Multifamily Portfolio in Chicago

The 214 units within the portfolio are located on the city’s south side.

CHICAGO — American Street Capital (ASC) has arranged $13.6 million in permanent debt for the refinancing of a 20-property multifamily portfolio in Chicago. The 214 units within the portfolio are located on the city’s south side in various neighborhoods such as Bronzeville, Kenwood and Southshore. The portfolio was approximately 95 percent leased at the time of loan closing. Igor Zhizhin and Alexander Rek of ASC secured three separate loans on behalf of the borrower, a Chicago-based REIT. A correspondent agency lender provided the loans, each of which featured a 10-year, fixed-rate term and a 30-year amortization schedule.

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