Largo Group of Cos. originates $12.7m for three office properties

Syracuse, NY The Largo Group of Companies secured a total of $12.7 million in financing for three office properties.

Ned Perlman, vice president of originations at Largo, negotiated a $9.4 million loan with a federal credit union for a seven-story office building. The 75% leveraged deal featured funds for tenant improvements, 25-year amortization, partial recourse and no prepayment penalty.

Perlman closed a $2.4 million refinance for a 36,000 s/f, four-story office building located in Buffalo’s Central Business District. The fixed rate loan provided a 10-year term with 25-year amortization.

Perlman also closed a life company deal on a 7,000 s/f office building in suburban Buffalo. The 20-year self-amortizing mortgage offered the borrower full leverage at 75% loan to value.

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 United States and Canada. We manage the loan process from loan application through closing and service the loan through its term.

Largo has 24 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.

Tags: Brokerage

Reprint

Previous Story Next Story

1540 Broadway signs 226,500 s/f of leasing as repositioning drives demand

Manhattan, NY GFP Real Estate and BDT & MSD Partners (BDT & MSD) secured 226,500 s/f of new leasing at 1540 Broadway since unveiling the tower’s $150 million repositioning in January

Olmstead Properties continues leasing momentum at 381 Park Ave. South with 9,946 s/f of new office leases

SL Green Realty inks 34,564 s/f of leasing at 711 Third Ave.

SL Green inks 34,564 s/f of leasing at 711 Third Ave.

NAI Long Island brokers sale of 2,500 s/f office for $680,000

Merrell of Island Associates sells 1,400 s/f medical office - $650,000

Merrell of Island Assocs. sells 1,400 s/f medical office

READ ON THE GO

DIGITAL EDITIONS

Browse Now

Quick Hits

Brokerage

Cushman & Wakefield’s Kuppersmith arranges 117,000 s/f industrial lease

Columns and Thought Leadership

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,

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.

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their