Arnos Arranged Financing for Rite Aid in Wappingers Falls, N.Y.
Louis Arnos secured a $2,550,000 loan to refinance the debt on the property.
FOR IMMEDIATE RELEASE
Albany, New York – January 2, 2013 – Louis Arnos, Account Executive for the Largo Group of Companies, arranged a permanent first mortgage in the amount of $2,550,000 to refinance the existing debt of a freestanding Rite Aid located at the corner of Route 9 and New Hackensack Road in Wappingers Falls, New York. Rite Aid has occupied the space since 1999 and has a triple net lease that extends through August 2019. Louis arranged a 10 year term with a rate reset after 5 years and a 25 year amortization schedule for the borrower.
Largo has relationships with 17 correspondent lenders and offers additional lending sources to the marketplace, which will benefit owners and developers of commercial properties providing alternative finance options. Largo offers long-term, non-recourse financing at a competitive fixed rate for its borrowers through its strong network of correspondent lenders.The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative 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.