Carswell of Largo arranges $4 million refinance

Hauppauge, NY Dave Carswell, managing director at Largo Capital, arranged a $4 million permanent first mortgage to refinance the existing debt secured by a 69,000 s/f grocery anchored shopping center.

The newly renovated property is 97% occupied and recently signed a 10-year lease with one of its tenants for 25,000 s/f. The subject is located on Veterans Memorial Hwy., a main arterial road in the area.

Carswell was able to lock the rate seven months in advance with one of Largo’s correspondent life insurance companies and negotiated a flexible prepayment schedule.