ASC arranges $3.9 million for multifamily in Milwaukee, WI
Chicago, IL – July 10, 2017 – American Street Capital (“ASC”) announced today that it has arranged $3.9 million in financing for a 112-unit multifamily complex with retail located in Milwaukee, WI. The transaction closed in June, 2017.
ASC exclusively represented the sponsor to secure the refinance loan for a multi-family complex located in the Timmerman West neighborhood of Milwaukee, WI. The complex consisting of seven two story buildings which includes a single retail location is located on 7.39 acres and was built in 1984. The complex’s amenities include a pool, running paths, underground parking, laundry facilities, and on-site property management.
ASC secured the desired proceeds and non-recourse loan structure highlighted by full term interest-only payments. The loan featured a non-recourse, fully assumable structure and was placed with a correspondent DUS agency lender.
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 real estate finance firm with correspondent lending relationships specializing in securing balance sheet and CMBS loans for multi-family, 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. Follow American Street Capital on Twitter @AmericanStCap.
Alexander F. Rek
Director of Operations
American Street Capital