Largo Closes on $30 Million Multifamily Portfolio
BUFFALO, NY – January 18, 2021 – Perry Miceli, Principal at Largo Capital, arranged financing for a portfolio of garden style apartments in suburban Buffalo. Placed with one of Largo’s correspondent life insurance lenders, the $31 million non-recourse loan provided a low ten year fixed rate amortized over 30 years. The loan allowed the owners to refinance existing debt and provided substantial cash-out proceeds.
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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.