Toronto, ON Kevin Heiss, managing director of Largo, secured $169 million loan to refinance the existing debt on a high quality, cross collateralized pool of grocery anchored shopping centers.
The properties total two million s/f, diversified by both anchor and geography.
The loan term is 10-years and three-months, with 30-year amortization.
The Largo Group of Companies is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative commercial real estate financing structures for borrowers throughout the U.S. and Canada. They manage the loan process from loan application through closing and service the loan through its term.
Largo has 25 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate. Founded in 1989 by Gary Coscia, Largo has financed $31 billion in commercial mortgages and has a servicing portfolio exceeding $2.5 billion.
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