Largo Arranges $16 MM in Construction Financing for The Avalon Club, a Condominium Project in Clearwater Beach, FL
SARASOTA, FL & GETZVILLE, NY – December 16, 2019 – Kevin Coscia, Managing Director, & Tim Finiki, Vice President of Originations at The Largo Group of Companies, arranged $16 million in construction financing for the development of a 34-unit condominium project located in Clearwater Beach, Florida.
The team secured 75% Loan to Cost on the proposed project which will feature a total 34 fully-furnished luxury condominiums with access to Clearwater Beach, one of the highest rated beaches in the world. Construction commenced in Q3 2019 and delivery is slated for Q4 2020.
Coscia and Finiki arranges a 30-month, interest only loan for the construction period of the project.
The Largo Group of Companies is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative commercial real estate financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan through its term.
Largo has 21 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate.
For more information, please contact:
P: (914) 222-0770
C: (212) 203-3431
Vice President of Originations
P: (716) 204-2206
C: (716) 359-0451