Largo Capital Secures $6.5MM for Grocery-Anchored Property in Port St. Lucie, FL
ORLANDO, FL – June 9, 2021 – Benjamin Blanton, Vice President of Originations at Largo Capital, arranged $6.5MM in non-recourse financing for a grocery-anchored retail property in Port St. Lucie, FL. The asset, totaling 60,228 rentable SF, continued its historically strong performance throughout COVID with YoY grocer store sales growth and 96%+ occupancy in 2020. Blanton secured a 25-year, fixed-rate, fully-amortizing loan at competitive pricing 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 through its term.
Largo 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 has financed $31 Billion in commercial mortgages and has a servicing portfolio exceeding $2.5 Billion.