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

July 07, 2020 - Upstate New York

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.

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