American Street Capital Secures $4.2M Loan For Refinancing Of 60-Unit Apartment Complex In Loves Park
This MultiFamily property located in IL received a loan of $4,200,000 18 days ago. The broker of the deal was Igor Zhizhin
American Street Capital (ASC) arranged a $4.2 million CMBS loan for the refinancing of a 60-unit apartment complex located at 6006 Elm Court in Loves Park. The multifamily property is situated in the market of Loves Park and North of Rockford.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Units: 60
- Address: 6006 Elm Court
- Market: Loves Park
The loan secured by a seasoned owner-operator in the market is a 10-year loan with a fixed interest rate and two years of interest-only payments. Igor Zhizhin from American Street Capital represented the owner in this transaction.
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- Location6006 Elm Court
- Loan Value$4,200,000
- Asset TypeMultiFamily
- Parties1 Broker, 1 Agency
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Deal Summary
LOAN
IMAGE: Igor Zhizhin
DATE: 11/17/2023
ADDRESS: 6006 Elm Court
MARKET: Loves Park
ASSET TYPE: Multifamily ~ UNITS: 60
BROKER: Igor Zhizhin - American Street Capital
LOAN AMOUNT: $4,200,000
LOAN TERMS: 10-year loan, which features a fixed interest rate and two years of interest-only payments
NOTE: American Street Capital (ASC) arranged a $4.2 million CMBS loan for the refinancing of a 60-unit apartment complex in Loves Park, north of Rockford. The 10-year loan, with a fixed interest rate and two years of interest-only payments, was secured by a seasoned owner-operator in the market.
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