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Long Island
Posted: September 8, 2020
Carswell of Largo Capital arranges $2.4 million permanent financing
Smithtown, NY David Carswell, managing director of Largo Capital’s Manhattan office, arranged permanent financing for an 11,000 s/f single tenant medical office property.
The life company lender provided a $2.4 million cash-out refinance on a non-recourse basis with a 25-year amortization schedule. The low rate was fixed for a 12-year term which was designed to be coterminous with the tenant lease term.
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Long Island
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Columns and Thought Leadership
The evolving relationship of environmental consultants and the lending community - by Chuck Merritt
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.