News: Brokerage

Largo secures financing for three properties; includes $83.25 million by Heiss for retail portfolio

Pittsford, NY According to the Largo Group of Companies, they have completed the following:

Kevin Heiss

Kevin Heiss, managing director at the Largo, secured $83.25 million in permanent financing for an eight property grocery-anchored retail portfolio. The cross collateralized  pool features a total of  945,000 s/f and includes anchors such as Walmart, Publix, and Giant Food. States within the portfolio include Pennsylvania, Florida, North Carolina, Georgia, Tennessee, and Michigan. Heiss arranged a ten year loan at a competitive interest rate on behalf of the borrower with one of Largo’s correspondent lenders.

Kevin Ross, VP of originations at Largo, secured a permanent first mortgage to refinance the existing debt on a 140,000 s/f grocery-anchored retail centre in Montreal, QC. Ross arranged a long-term, fixed-rate loan with a competitive interest rate on behalf of the borrower.

Ben Blanton of Largo’s Orlando office secured permanent financing for a multifamily community in Tampa, Fla. The property recently underwent minor renovations. Amidst the Coronavirus market disruption, Blanton was able to provide low, 10-year fixed-rate financing with a 30-year amortization on a non-recourse basis. The loan allowed the owners to refinance existing debt plus provide additional cash-out proceeds.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of