Largo Secures $19MM Acquisition Financing for Industrial Portfolio

PHILADELPHIA, PA – February 15, 2021 –   Neal Colligan, Principal at Largo Capital’s Philadelphia office, arranged acquisition financing for an eight-property, multi-tenanted industrial portfolio in Jacksonville, Florida. The Borrower was offered multiple quotes from various financing sources before accepting a transaction from a regional banking source. The deal featured a 5-year fixed rate, an interest-only period and additional funding for TI and CapEx. The transaction was completed in accordance with the acquisition time-line.

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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.

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