Largo Provides Long-term Financing for Self Storage Facility in Colorado Springs
BUFFALO, NY – January 24, 2020 – Ned Perlman, Vice President of Originations for Largo, provided permanent financing for a self-storage facility in Colorado Springs, CO. The property features 496 storage units, vehicle and boat ready accommodations with climate control options available.
Perlman was able to provide low,15 year fixed-rate financing for the property with a 30 year amortization on a non recourse basis. The loan allowed the owner to recapitalize a newly stabilized property (built in 2016), with permanent debt.
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 through 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.
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