Kevin Heiss, managing director for the Largo Group of Companies, arranged a permanent first mortgage in the amount of $28.9 million to finance the acquisition of a portfolio of five grocery anchored shopping centers located in the state, Dayton, Springboro, and Cleveland and two in Pennsylvania (New Castle and Pittsburgh). The portfolio has a total net rentable area of 688,317 s/f and is currently 97.2% occupied. Heiss secured a 7-year fixed rate loan, amortizing over 30 years. The major anchor tenants in the portfolio include Giant Eagle, Kroger, and Save-A-Lot.
The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan throughout its term. Tags: