Madore of Largo Capital arranges $2.1 million refinancing

Gainesville, FL Patrick Madore of Largo Capital, Inc. secured a permanent first mortgage to refinance the existing debt for a student housing property with one of Largo’s long-standing correspondent life insurance company relationships. The eleven-year, self-amortizing loan is non-recourse with a fixed interest rate of 5.35%.

The property includes 90 units with a mix of one-, two-, and three-bedroom apartments, spread across six buildings and exclusively leased to University of Florida students, on a per-apartment basis. The subject property is currently 98% occupied, and the sponsor has maintained a strong occupancy history with no evictions in recent years.

Property amenities include an on-site rental office, laundry facility, individual A/C and heating units in each apartment, and a community swimming pool. The subject property is ideally situated near the University of Florida, UF Health Shands Hospital, and Blue Plaza Central Shopping Mall, offering convenient access to major educational, medical, and retail hubs.