Largo Finances $40MM Class A Office Building
TORONTO, ON – January 16, 2017 – Kevin Heiss, Managing Director of Largo’s Canadian operations, secured $40 million in financing for a Class A office building located in downtown St. John’s Newfoundland. The subject comprises of 188,170 square feet of office space and has been 100% occupied for over fifteen years by credit tenants, Bell Aliant (S&P: BBB) and Johnson Insurance, a subsidiary of RSA Insurance (S&P: A).
Heiss arranged a 3-year, fixed rate, interest only loan 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 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.