Louis Arnos, account executive of the Largo Group of Companies, has arranged $900,000 to refinance the existing debt on two multifamily properties. The first is a 13-unit apartment complex known as Evergreen Woods located at 492 Dixon Rd., and the second is New Hampshire Apartments located at 48 New Hampshire Ave., a 4-unit townhome development. Both complexes are currently 100% occupied. Louis arranged a 10 year term with a sub 4.5% fixed rate and a 20 year amortization schedule at 71% Loan-to-Value for the borrower.
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 Cos. 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. Tags: