Brian Sheldrick, Managing Director of the Largo Group of Companies, arranged the financing for a portfolio of office/flex properties located along Elmgrove Park in Gates, New York. The properties total 45,864 square feet and are currently 100% occupied by five tenants on NNN leases. The buildings are leased to a mix of local and national tenants including Champion WIndow & Doors and LVI Environmental Services. The subject properties have immediate access to NYS Route 531 at the 490 Exchange and are conveniently located 6 miles from the Rochester Central Business District, just minutes from the airport. Brian arranged $2 million to refinance the existing debt on the property through a life insurance company. The loan included a10 year sub-4.5% fixed rate with a 20 year amortization schedule for the borrower.
Largo has relationships with 17 correspondent lenders and offers additional lending sources to the marketplace, which will benefit owners and developers of commercial properties providing alternative finance options. Largo offers long-term, non-recourse financing at a competitive fixed rate for its borrowers through its strong network of correspondent lenders.The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.
