Largo Finances $50M for Grocery-Anchored Shopping Centers

January 26, 2015 – Buffalo, NY – 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 loan, which has a 10-year fixed rate and is non-recourse, was placed with one of Largo’s correspondent life insurance companies. It was structured with three years of interest-only payments followed by a 30-year amortization schedule. The anchor tenants include two high-performing Winn-Dixie locations and one Walmart Neighborhood Market in North Carolina. 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. We structure, close, and service commercial mortgages for acquisitions, refinances, and redevelopment projects. Largo arranges innovative real estate financing for borrowers throughout the United States and Canada. We manage the entire loan process, from application to closing, and service the loan throughout its term.

With 17 correspondent relationships, Largo offers long-term, non-recourse commercial real estate financing at competitive fixed rates. We provide property owners and developers with alternative lending sources.