Passaic County, NJ Dave Carswell, managing director at Largo Real Estate Advisors, Inc. secured acquisition financing for two separate assets in the Tri-state area.
The first was a value-add industrial transaction in Passaic County, NJ. The loan was sourced through one of Largo’s bridge lending relationships, providing 2 years of interest only, non-recourse debt.
The second loan was for an unanchored neighborhood retail center in East Meadow, NY. The loan was placed with one of Largo’s long standing correspondent life insurance company lenders. In this rising interest rate environment, the lender’s ability to lock rate at application allowed the borrower to save over 50 basis points on their interest rate. Largo will service this loan in-house of behalf of the lender as a part of our $4 billion servicing portfolio. Largo’s proven relationships help our clients navigate uncertain market conditions and secure the most competitive financing for all their commercial real estate needs.
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