DeVries of Largo Capital, Inc. secures $3.7 million permanent first mortgage for retail property in Odessa, FL

Odessa, FL Kurt DeVries, managing director at Largo Capital, Inc., has secured $3.7 million permanent first mortgage on a retail property. The property features three high-profile tenants, McDonald’s, Starbucks and Chili’s, each on ground leases. The financing was provided by one of Largo’s correspondent life insurance companies, with the client benefiting from a competitive interest rate that was locked at loan application. In addition to the favorable loan terms, Largo Capital will service the loan as part of its $4.5 billion servicing portfolio, continuing to add value beyond the transaction and ensuring ongoing support throughout the life of the loan. The financing was secured amidst the challenges of a major hurricane. This loan exemplifies the superior certainty of execution provided by Largo and their correspondent lenders.