Largo Finances $50M for Grocery Anchored Shopping Centers
Buffalo, NY – January 26, 2015 – Kevin Heiss, Managing Director of the Largo Group of Companies secured $50,000,000 in financing for three grocery anchored shopping centers totaling 570,000 square feet. The 10-year, fixed rate, non-recourse loan was placed with one of Largo’s correspondent life insurance companies and was structured with three years interest only followed by a 30-year amortization schedule. The anchor tenants consist of two well-performing Winn-Dixie locations and one Walmart Neighborhood Market in North Carolina. Notable national junior anchor tenants include Ross Dress for Less, Party City, Tuesday Morning, and Dollar General.
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.