Largo Finances $4.5 Million Grocery Anchored Retail Plaza in Watertown, NY
BUFFALO, NY – January 26, 2017 – The Largo Group of Companies, Upstate New York’s largest privately owned commercial mortgage banking firm, secured a $4.5 million permanent first mortgage to finance a 135,000 square foot grocery anchored retail plaza located in Watertown, New York. The transaction was negotiated by Anthony Carroll, Senior VP of Largo. Carroll focuses on providing permanent financing for commercial real estate properties throughout the Syracuse and Upstate New York Area.
The plaza is 93% occupied and anchored by Tops Markets. In addition, other national tenants include Family Dollar, Rent-A-Center and Domino’s. Carroll arranged a 15-year, permanent first mortgage with a 25-year amortization and no prepayment penalty. The flexible structure allows the borrower to perform future property enhancements.
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.