American Street Capital (ASC) has arranged a $41.6 million loan for a five-property investment portfolio located in Palm Beach County, Florida.

ASC worked exclusively on behalf of their foreign national client to secure a bridge loan with a full-term interest reserve. The subject properties were a combination of occupied multi-family and vacant residential investment properties located in the Palm Beach metropolitan area.

Igor Zhizhin, a Principal of ASC, originated the loan. The client was required to refinance into a bridge loan that included high leverage, non-recourse, and limited pre-payment penalty to refinance a portfolio loan and release ancillary collateral for future development. This was a time-sensitive transaction that required extensive structure while providing flexibility for partial releases.

Based in Chicago, ASC is a national commercial mortgage banking firm with correspondent lending relationships specializing in securing balance sheet and CMBS loans for multifamily, mixed-use, student housing, assisted living, retail, and office properties.