Toronto, ON Kevin Heiss, managing director of the Largo Group of Companies, arranged a $3 million permanent first mortgage to refinance the existing debt secured by two industrial properties located in Port Charlotte, Fla. The properties are leased to a mix of regional and local tenants. Heiss secured a five-year term with 25-year amortization on behalf of the borrower through one of Largo’s correspondent life insurance lenders.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,