CHICAGO, IL – 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 News, Midwest Real Estate News, Connect Commercial Real Estate and Commercial Property Executive.