Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • People On The Move
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Events
  • Advertise
  • Login/Register

American Street Capital secures $5.8 million for skilled nursing facility

April 30, 2018
Share on Facebook Share on Twitter Share on LinkedIn Share via email

American Street Capital (“ASC”) has secured $5.8 in permanent financing for a 121-bed skilled nursing facility in Sterling, Illinois. The loan was originated by Igor Zhizhin, the President of ASC.

Located in northwest Illinois, Sterling Healthcare is a 121-bed facility with an array of comprehensive services including short term rehabilitation, memory, post-surgical and long term care. The facility’s amenities include 24-hour nursing staff, a patient concierge, private rooms, on-site transportation and outdoor gardens.

The facility was being transitioned from owner-operated to third party leased with an acquisition option at a relatively high leverage for this small market. Combined with a request for partial recourse this made it a challenging request for most institutional lenders. Through its established balance sheet lender relationships, ASC was able to procure a competitively priced five-year loan at a 70 percent advance with partial recourse on a 25-year amortization schedule.

Tags
american street capitalIllinoissterling
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisMultifamily

Kinzie Builders completes Elm Street Place rental townhomes in Deerfield

January 15, 2021
MichiganOffice

P.A. Commercial sells 95,000-square-foot office near Detroit

January 15, 2021
IllinoisMultifamily

Lendlease and Magellan Development Group top off Cirrus and Cascade in Chicago’s Lakeshore East

January 15, 2021
IllinoisMultifamily

Marcus & Millichap arranges the sale of 10-unit apartment building

January 15, 2021

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Subscribe
  • Advertise
  • Office Locations
© 2021 REjournals.com