Scottsdale-based YAM Capital has closed a $42 million loan for a hospitality property in the heart of downtown Chicago. The national real estate bridge lender specializes in asset-based commercial real estate financing, and this recent deal included initial funding with an earn-up component.

“Closing this highly competitive loan is a testament not only to YAM Capital’s ability to be flexible and provide certainty of execution but also to the strong relationship our team has been able to build with the borrower and mortgage broker,” said Mike Marmis, managing director of YAM Capital.

YAM Capital’s lending program is designed to be efficient, creative and reliable, and its approval process is built for speed and certainty of execution. The private lender is one of 14 businesses that operate under YAM Worldwide Inc., founded by well-known American entrepreneur Bob Parsons.