Largo Arranges $15.6MM Loan for Delta by Marriott
BUFFALO, NY – JULY 24, 2018 – Lori Tirado, Managing Director of the Largo Hospitality Finance Group, secured a $15.6 Million loan to refinance the existing debt on a 272-room hotel that was recently repositioned in the market from a Radisson to a Delta by Marriott. The property recently underwent an extensive renovation and opened on June 1, 2018 as a Marriott property. It is located in Romulus, Michigan, southwest of Detroit and benefits from its location just two miles north of the Detroit Metropolitan Wayne County Airport (DTW). DTW is the metros primary airport serving as a hub for Delta Airlines. Tirado arranged a three-year, interest only loan on behalf of the borrower.
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 throughout 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.