CHICAGO, IL - American Street Capital (“ASC”) announced today that it has arranged $1.56 million in financing for a 9-unit multifamily property in Boston, MA. The transaction closed in April, 2017.
ASC exclusively represented the sponsor to secure the acquisition loan for a multi-family property located in the Hyde Park neighborhood of Boston, MA. The multi-family building was built in 2007 and consists of 9 residential units with a unit mix of 2 and 3 bedroom apartments. Additional amenities include an underground heated parking garage, condo quality finishes, and in-unit washer and dryers.
ASC successfully met the request with a competitive 20-year loan term funded through the Freddie Mac Small Balance Program (“SBL”). The loan featured 65% LTV, non-recourse obligation, assumption capabilities, partial term interest only payments, step-down pre-payment, and a 30-year amortization schedule.
The loan was originated by Igor Zhizhin, the President of ASC.
American Street Capital, LLC (“ASC”) is a national commercial real estate finance advisory firm with extensive correspondent lending relationships. ASC specializes 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 from $750,000 to $50,000,000.