Largo Finances $11.5 Million for Holiday Inn Wichita
Buffalo, New York – September 12, 2014 – John Svec, Managing Director of the Largo Hospitality Finance Group, arranged $11.5 million in financing for a full service Holiday Inn located in Wichita, Kansas. The 199-room Holiday Inn Wichita East is located on one of the busiest intersections in Wichita and is undergoing major renovations. John refinanced the borrower’s existing mortgage and secured substantial renovation funding by structuring a 20-year loan with 25-year amortization.
Largo has relationships with 17 correspondent lenders and offers additional lending sources to the marketplace, which will benefit owners and developers of commercial properties by providing alternative finance options. Largo offers long-term, non-recourse financing at a competitive fixed rate for its borrowers through its strong network of correspondent lenders.
The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative 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.