Largo Finances $45 Million for Hotel Property in Vancouver, British Columbia
TORONTO, ON – November 15, 2016 – Kevin Heiss, Managing Director of The Largo Group of Companies, secured $45 million in acquisition financing for a hotel property located in Vancouver, British Columbia.
Developed in 1999, the hotel features a total of 386 guestrooms, approximately 10,000 square feet of meeting space, and is located on the grounds of the Vancouver International Airport. The hotel was recently voted the number one airport hotel in North America for its third consecutive year. Heiss arranged a loan with a 10-year, fixed rate term and a 17-year amortization through one of Largo’s correspondent life insurance companies.
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.