Mag Mile Capital Secures $8 Million Bank Syndication Financing for Manufactured Home Park in Boardman, OR

Chicago, Illinois, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Mag Mile Capital, Inc. (OTCQB: MMCP) ("Mag Mile", or the "Company") is pleased to announce the successful closing of an $8 million bank syndication program financing in connection with the horizontal construction and capitalization of a manufactured home park to be developed in Boardman, OR. The loan, structured with a 65% loan-to-cost (LTC) ratio, was secured with a five-year term, an initial 18-month interest-only period during development, followed by a 25-year amortization schedule. The transaction was facilitated by two of Mag Mile Capital’s senior leadership team members, CEO, Rushi Shah and SVP of Underwriting and Originations, Prabhat Jayara.