Grand Blanc, MI The Largo Group of Cos. have completed the following transactions:
Kevin Ross, vice president of originations at Largo Capital, handled the following loans:
• A $14.35 million mortgage to refinance a 90,000 s/f office building in Montreal, Quebec. 5250 Decarie is a multi-tenanted office building just west of downtown. Ross arranged a ten-year, fixed rate first mortgage with 25-year amortization through one of Largo’s US Life Insurance Cos.
• A $1.5 million loan to refinance the existing debt on a 171-unit self-storage facility in Mount Albert, Ontario. The project is newly constructed and offers climate controlled storage units. The three-year, fixed rate mortgage with 25-year amortization was funded through a recently formed Schedule I Bank in Canada.
• A $3.5 million loan, which was used to acquire two multi-tenanted office buildings. Both properties are well-located within the suburbs of Trenton, N.J. Ross arranged a three-year, interest only mortgage through one of Largo’s correspondent lenders.
• $3.1 million, which was structured to refinance the existing debt on a 75,000 s/f mixed-use property in Montreal, Quebec. The property was 100% occupied at the time of financing. Ross negotiated a five-year, fixed rate mortgage with 25-year amortization on behalf of the borrower.
• A $3.2 million loan used to acquire a limited service hotel in the Buffalo-Niagara MSA. The Best Western Plus features 95-rooms with an indoor pool, fitness center and 8,800 s/f of meeting space. Ross arranged a five-year mortgage with 25-year amortization.