Largo Finances $23.85 Million for Office Property and Portfolio of Retail Properties
Buffalo, NY – December 11, 2014 – Zach Casale, Account Executive of The Largo Group of Companies, arranged $23.85 million in non-recourse financing for a portfolio of retail properties across New York and Pennsylvania and an office property in downtown Buffalo, New York.
Zach arranged $18,600,000 in financing for six Rite Aid properties totaling 124,000 SF. The properties are located throughout New York and Pennsylvania. Zach secured a 15-year fixed rate permanent first mortgage with 15-year amortization for the borrower through one of Largo’s correspondent Life Insurance Companies.
Zach also arranged $5,250,000 in financing for a 174,000 SF office property located in Buffalo, NY. The seven story building is situated in the heart of downtown Buffalo. Zach secured a 10-year fixed rate deal with 20-year amortization for the borrower, while coordinating a defeasance payoff from a previous CMBS transaction.
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 17 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.