TORONTO, ON – March 13, 2019 – Kevin Heiss, Managing Director of Largo’s Canadian operations, secured $161.3 million to finance the repositioning of a prominent Class A office and retail tower in the heart of Calgary’s central business district.
Located at 2nd and 7th Ave, the property has significant frontage on Stephen Ave, a major commercial and entertainment district housing many of the city’s upscale restaurants, high-end retail, offices, and the Telus Convention Centre.
The 41-floor building features 517,067 SF of Class A office and 86,273 SF of retail space.
A three-year, non-recourse permanent first mortgage was arranged on behalf of the borrower with two (2) one-year renewal options.
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.
For more information, please contact:
KEVIN HEISS: MANAGING DIRECTOR
(416) 362-2122 ext 226 • kheiss@largocapital.com
