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
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account