American Street Capital Secures $3.9M Loan For Mahomet Multifamily Complex

American Street Capital (ASC) has secured a $3.9 million cash-out refinance loan for a 160-unit multifamily complex in Mahomet, Illinois. The property is located at 307 North Prairie View Road and sits on 10.9 acres. The multifamily complex is comprised of 160 units, making it an attractive investment opportunity in the Mahomet market.

Summary of transaction details:

• Property Type: Multifamily
• Loan Amount: $3,895,000
• Loan Type: Refinance
• Loan Terms: Non-recourse, 10-year fixed term with five years of interest-only payments
• Market: Mahomet
• Units: 160
• Acres: 10.9
• Broker: Igor Zhizhin - American Street Capital

The loan was placed with a correspondent agency lender, further showcasing the expertise and network of American Street Capital. With a 10-year fixed term and five years of interest-only payments, the loan offers favorable terms for the borrower, allowing for flexible repayment options.