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Brokerage
Posted: May 4, 2021
Largo secures five loans totaling $16.25 million
Buffalo, NY Largo Group of Companies has completed the following:
- Kevin Ross, VP of originations, secured a $6.3 million loan for the acquisition of a 258,000 s/f industrial building. Ross negotiated a two-year interest-only loan on behalf of the borrower through a non-bank lender.
- Ross secured a $1.75 million loan for the acquisition of a 118-unit self-storage facility. The property is comprised of four industrial mini-storage buildings that were constructed in 2004. Ross negotiated a two-year interest-only loan with a competitive interest rate on behalf of the borrower.
- Kevin Heiss, managing director, secured a $4.5 million permanent first mortgage to refinance the existing debt on an industrial development. The property features 74,462 s/f. Heiss arranged a 15-year term with 20-year amortization through a life insurance lender.
- Heiss arranged $2.7 million in acquisition financing for a 33,800 s/f property, including 8,000 s/f of office space. Heiss negotiated a 10-year term with a competitive fixed rate and 15-year amortization through a life insurance company.
- Heiss arranged a $1 million permanent first mortgage to refinance the debt secured by an office building. Heiss secured a 10-year term with 20-year amortization on behalf of the borrower.
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