3 Year Deal with Two Extension Options
Kevin Heiss structured a three year deal with two extension options and an interest only period.
FOR IMMEDIATE RELEASE
Buffalo, New York- February 18, 2013 – Kevin Heiss, Managing Director of the Largo Group of Companies, arranged $87,230,000 in financing for the acquisition of a portfolio of grocery anchored shopping centers totaling 1.3 million square feet. The loan was structured as a three-year deal with two extension options and an interest-only period.
The shopping centers were leased to strong anchors including Publix, Kroger, Harris Teeter, Bi-Lo, Winn Dixie, Walmart and Food Lion. The properties were located throughout the United States and were situated in strong primary and secondary markets including Pittsburgh, Philadelphia, Orlando, Nashville, Raleigh, Detroit and Chattanooga.
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.
For further information, please contact:
Kevin Heiss, Managing Director
(212) 203-1517 – [email protected]
Lori Tirado, Director of Marketing
(716) 204-2223 – [email protected]