Buffalo, NY – March 25, 2022 – Ned Perlman, Vice President of Originations at the Largo Group of Companies, arranged a $5.6 million permanent first mortgage to refinance the existing debt for a self storage facility in Hurricane, UT. The facility has a total of 518 units which are currently 95% occupied.
Utilizing Largo’s network of Correspondent Life Insurance Lenders, Perlman secured a 10-year, non-recourse permanent first mortgage with 27-year amortization.
Vice President of Originations
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 Capital 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 Capital has 25 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. Founded in 1989 by Gary Coscia, Largo Capital has financed $31 Billion in commercial mortgages and has a servicing portfolio exceeding $3 Billion.