Largo Secures $3 Million for Syracuse Self-Storage Property
MANHATTAN, NY – January 8, 2021 – Dave Carswell, Managing Director of Largo’s Manhattan office, recently closed a $3 million refinance for a self storage property in Syracuse, New York. The borrower was able to lock into an attractive 10-year fixed rate and take cash out for future acquisitions. The loan was 80% LTV and featured a 25-year amortization with no prepayment penalty.
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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.