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ASC Arranges $4.9M Acquisition Financing for Multifamily Portfolio in Chicago

The portfolio consists of three buildings and 88 units in Chicago’s Grand Boulevard neighborhood.

The portfolio consists of three buildings and 88 units in Chicago’s Grand Boulevard neighborhood.

CHICAGO — American Street Capital (ASC) has arranged $4.9 million in acquisition financing for a three-building multifamily portfolio in Chicago. The properties, located in the Grand Boulevard neighborhood, total 88 units and feature a mix of one-, two- and three-bedroom floor plans. The portfolio was more than 95 percent occupied at the time of acquisition. Igor Zhizhin and Alexander F. Rek of ASC arranged the three loans, which feature 20-year terms and 30-year amortization schedules. A correspondent agency lender provided the loans.

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