Heiss of Largo Group of Cos. facilitates $28.4 million financing for 336-unit multifamily complex

April 04, 2017 - Upstate New York

Largo-unnamed.jpg">Largo-unnamed.jpg" alt="" width="600" height="413" />Rochester, NY Kevin Heiss, managing director of The Largo Group of Cos. secured $28.4 million in finacing. The financing was placed for the acquisition of a 336-unit multifamily complex.

Largo.jpg">Largo-150x150.jpg" alt="Kevin Heiss, The Largo Group of Cos." width="150" height="150" /> Kevin Heiss, The Largo Group of Cos.

The property features numerous amenities including a clubhouse with sundeck and pool, wooded views, and large patios and balconies. The unit mix includes one-, two- and three-bedroom units with 9 ft. ceilings, private full size washer and dryer, and walk-in closets.

Heiss arranged a seven-year fixed rate loan with 30-year amortization for the borrower, through one of Largo’s correspondent lenders. Largo has 21 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial financing options.

The Largo Group of Cos. is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo manages the loan process from loan applicaation through closing, and services the loan throughout its term.

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