Mountainside, NJ – August 2, 2022 – Dave Carswell, Managing Director at Largo Capital, arranged $10,530,000 in acquisition financing for a pair of industrial buildings located in Union County, NJ. The properties consist of 80,000 SF and are situated on 9 acres directly off U.S. Route 22. Both buildings are 100% occupied by two tenants. There are several value-add opportunities including a 21,500 SF expansion, an outdoor storage income opportunity, and a lease buy-out opportunity to unlock final value.
Carswell was able to secure a non-recourse, fixed-rate, interest-only bridge loan with a 3+1 year term and minimal structure or reserves.
New York, NY
O: 212.439.4711 C: 917.246.8339
The Largo Group of Companies is a commercial real estate firm which structures, closes and services commercial properties for acquisitions, refinance and development projects. With headquarters in Getzville, NY, Largo has been providing innovative debt and equity financing structures for over 30 years throughout the United States and Canada.
Largo has 26 correspondent relationships and offers additional lending sources, providing property owners and developers the full array of financing options.