Offset Capital Announces $21.3MM Multifamily Bridge Loan

NEW YORK, NY — Offset Capital is pleased to announce the closing of a $21.3MM floating-rate loan secured by a 68-unit multifamily property located in Chicago, IL.

Proceeds will be used to finance a discounted payoff, facilitate a partner buyout, complete ongoing renovations, fund reserves, and cover closing costs. The new capital stack includes the prior lender staying in the deal in a preferred equity position.

“We’re thrilled to have the opportunity to partner with the sponsor and help them achieve success through a creative financing solution,” said Adam Frank, Principal for Offset. “We were able to address a complex ownership situation while preserving value for all stakeholders.”

The commercial real estate lender offers a range of full capital stack solutions, including senior bridge loans, mezzanine financing, and preferred equity investments. With a focus on speed, certainty of execution, and customization, Offset Capital is uniquely positioned to help borrowers navigate the financial challenges of today’s real estate market.

For more information on the transaction, please contact Offset Capital at info@offsetcap.com or view Offset Capital’s lending capabilities here.