American Street Capital Secures $41.6M for Florida MF Portfolio
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.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.