Largo Finances $7.6 Million for Four Self-Storage Facilities
BUFFALO, NY – September 27, 2016 – The Largo Group of Companies, Upstate New York’s largest privately owned commercial mortgage banking firm, secured $7.6 million in financing for four self-storage facilities located in the state capitals of Utah and Idaho. The transaction was negotiated by Shane Absalom, Account Executive at Largo.
The four facilities have a combined total of 2,440 units and are strategically located off of major thoroughfares in Boise and the suburbs of Salt Lake City.
Absalom secured four separate 10-year, non-recourse permanent first mortgages with 30-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.