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Brokerage
Posted: April 20, 2021
Largo Capital secures four loans totaling over $25.36 million in financing
Canandaigua, NY Largo Capital secured four loans totaling over $25.36 million.
Max Dowd of Largo Capital’s Rochester office secured a $1.86 million acquisition loan for a 30-unit multifamily property. Dowd negotiated a low fixed rate with a 10-year term and 25-year amortization on behalf of the borrower.
Neal Colligan, principal at Largo Capital’s Philadelphia office, arranged a $13 million loan for a multifamily asset in Newark, Delaware. Using one of Largo’s correspondent life company lenders, Colligan was able to negotiate a 15-year fixed rate with a 30-year amortization. The loan allowed the owners to refinance their existing debt at a competitive rate without recourse.
Ben Blanton, V.P. of originations out of Largo Capital’s Orlando office, secured acquisition financing for a neighborhood retail center in suburban Atlanta. The self-amortizing loan was placed with one of Largo’s correspondent life company lenders. Further terms were not disclosed.
Tim Finiki of Largo Capital arranged $10.5 million in financing for the development of an institutional quality, 815-unit self-storage facility in Port St Lucie, FL. Finiki arranged a 99-year ground lease from an investment management firm along with a 10-year term and 25-year amortization on a senior loan from a Texas-based, privately held financing company.
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