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American Street Capital Secures $14.3M Loan for Refinancing of Multifamily Portfolio in Macomb, Illinois

The portfolio includes 317 units across four complexes.

MACOMB, ILL. — American Street Capital (ASC) has secured a $14.3 million loan for the refinancing of a 317-unit multifamily portfolio in Macomb, located in western Illinois. Built between 2002 and 2005, the portfolio consists of four separate complexes. There is a mix of garden- and townhouse-style buildings with one-, two-, three- and four-bedroom units. Igor Zhizhin of ASC arranged the CMBS loan on behalf of the original developer. The 10-year, fixed-rate loan features a 30-year amortization schedule.

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