Largo Secures $169 Million for Grocery Anchored Retail Portfolio
Kevin Heiss, Managing Director of Largo, secured $169 Million loan to refinance the existing debt on a high quality, cross collateralized pool of grocery anchored shopping centers.
Largo Secures $19MM Acquisition Financing for Industrial Portfolio
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 timeline.
Largo Capital Arranges $10.5MM in Construction Financing for Self-Storage Facility in Port St Lucie, FL
Tim Finiki of Largo Capital arranged $10.5 million in financing for the development of an institutional quality, 815-unit self-storage facility in Port St Lucie, FL. Finiki arranged a 99-year ground lease from an investment management firm along with a 10-year term and 25-year amortization on a senior loan from a Texas-based, privately held financing company.
Largo Secures Preferred Equity for Boutique Hotel Construction Project
Tim Finiki, Vice President of Originations at the Largo Group of Companies, secured preferred equity financing for the construction of a $31MM full-service boutique hotel located in Austin, Texas.
Finiki secured a preferred equity partner that could work creatively with the hotel developer, land developer and senior lender. Construction is set to begin in the spring of 2020 with completion in 2021.
O: 716.204.2206 | C: 716.359.0451
Largo Arranges $88.3MM of Debt Financing for the Acquisition and Repositioning of Two Office Buildings in Burnaby, BC
Kevin Heiss, Managing Director of the Largo Group of Companies, secured $88,300,000 of debt financing for the acquisition and repositioning of two office buildings located in Burnaby, British Columbia. The two buildings total 251,000 square feet and are located in Metrotown, Burnaby’s primary commercial district. The renovation will restore the complex to Class A quality office product.
Heiss worked on behalf of the borrower to arrange a three-year, interest only loan with two 12-month extension options through one of Largo’s correspondent life insurance companies.
Largo Secures $10.5M Bridge Debt for Michigan Shopping Center
Shelby Township, MI – July 9, 2019 – David Carswell, Managing Director of Largo’s Manhattan Office, arranged $10.5 million in financing for a 160,000 SF shopping center in Shelby Township, MI. The shopping center is ideally located in the heart of one of Michigan’s premier retail markets directly across from the 1.5 million SF Lakeside Mall.
Carswell was able to secure a short-term bridge option at a competitive rate on behalf of the borrower through one of Largo’s correspondent life insurance lenders. The transaction was creatively structured while still maintaining non-recourse, fixed rate, interest-only bridge debt to facilitate the landlord’s efforts in lease up and seasoning after the loss of a long term, big box retail anchor tenant.