Perry Miceli, Principal for the Largo Group of Companies, arranged $7.7MM in financing for the acquisition of a 160 unit apartment complex located in Deland, Florida. Developed in 1991, Country Club Park Apartments features a clubhouse with a pool and sundeck, 24-hour fitness center, private entries and ample parking. The complex is situated within 10 minutes of the area’s three primary demand generators, Stetson University, Florida Hospital DeLand, and Florida Hospital Fish Memorial. It is in close proximity to I-4 providing quick access to Orlando and Daytona Beach. Perry arranged a 10 year fixed rate term with a 12 month interest only period; the loan is structured with a 30 year amortization schedule.
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.
