Largo Secures $10 MM Non-Recourse Financing for a Hampton Inn & Suites
BUFFALO, NY – January 20, 2020 – Tim Finiki, Vice President of Originations at the Largo Group of Companies, secured $10 million in non-recourse financing for the acquisition of a Hampton Inn & Suites hotel.
The 100-room hotel opened in December 2017 and features high-quality amenities including a Fitness Room, 24-hour Gift Shop, Pool/Spa as well as a Business Center and Meeting Rooms.
The hotel was acquired while still in the post-construction stabilization period. Finiki arranged a 36-month interest-only loan, providing the borrower with a flexible capital solution.
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.
For more information, please contact:
Vice President of Originations
P: (716) 204-2206
C: (716) 359-0451