November 1, 2023 – Dave Carswell, Originator at Largo Capital, Inc. secured a permanent first mortgage to acquire a car wash in Lexington, Kentucky. The property features over 5,000 square feet of commercial space occupied by Zips Car Wash LLC, the largest privately held car wash company in the U.S. In addition, the car wash is highly visible and easily accessible, benefiting from heavy traffic flow along South Broadway which experiences over 35,000 vehicles per day.
In an unpredictable financing market, Carswell was able to take advantage of one of Largo’s correspondent Life Insurance Company lending relationships to orchestrate a competitive 10-year fixed rate. Largo will service this loan in-house, adding to its $4B loan portfolio.