American Street Capital Arranges $14.3M Loan For Macomb Multifamily Properties

A $14,300,000 loan has been secured to refinance four apartment complexes in Macomb, IL. The properties involved in the transaction include 1507 W. Jackson St., 324 Wigwam Hollow Rd, 900 N Albert St., and 415 W Adams. These multifamily assets consist of a total of 317 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $14,300,000
• Loan Type: Refinance
• Loan Terms: 10-year Fixed, 30-year amortization, non-recourse
• Units: 317
• Broker: American Street Capital - Igor Zhizhin

American Street Capital, represented by Igor Zhizhin, served as the broker in this transaction. The loan, with a 10-year fixed term and 30-year amortization, offers non-recourse financing for the properties. This refinance deal allows for continued investment in the 317-unit multifamily assets located at 1507 W. Jackson St., 324 Wigwam Hollow Rd, 900 N Albert St., and 415 W Adams in Macomb, IL.