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Chicago & Midwest  + Illinois  + Finance  | 

American Street Capital Structures Permanent Debt for Chicago-Area Portfolio

American Street Capital (ASC) secured $9.64 million in permanent debt for a 149-unit, scattered-site multifamily portfolio in the Chicago suburb of Oak Forest, IL. The loans were originated by ASC president Igor Zhizhin.

The sponsor, a seasoned owner and operator throughout Chicago, required a non-recourse, high-leverage loan with maximum proceeds and a flexible prepayment structure.  In order to obtain maximum proceeds and disposition flexibility, ASC simultaneously structured three individual non-recourse loans, which were placed with a correspondent agency lender.

The portfolio is composed of three non-contiguous multifamily complexes consisting of one, two, and three-bedroom apartments. All three complexes provide additional amenities, including adequate surface parking and common laundry facilities.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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