Largo Secures $16.5 Million in Financing for Two Properties in Montreal
TORONTO, ON – November 4, 2020 – Kevin Ross, Vice President of Originations out of Largo’s Toronto office, has arranged $16.5 million in financing for two Montreal properties. The first was a $10 million loan to refinance a historic 74-unit apartment building in downtown Montreal. The second transaction was a $6.5 million refinance of a 320,000 square foot industrial building in a prime logistics area of Montreal.
Ross secured two five-year, fixed-rate loans, allowing the borrower to take advantage of the low interest rate environment while providing a return of equity. Both transactions were funded through one of Largo’s Canadian lenders.
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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 25 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. Founded in 1989 by Gary Coscia, Largo has financed $31 Billion in commercial mortgages and has a servicing portfolio exceeding $2.5 Billion.