Outside the Region: Ross of Largo Group of Cos. negotiates five loans totaling $25.65 million

December 19, 2017 - Front Section

Grand Blanc, MI The Largo">Largo Group of Cos. have completed the following transactions:

Kevin Ross, vice president of originations at Largo">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">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">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.  

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