Miceli of Largo Capital arranges $31 million non-recourse loan

February 02, 2021 - Upstate New York
Self storage property in Syracuse, NY
Perry Miceli


Dave Carswell


Matthew Guidarelli


Kevin Heiss


Kevin Ross


Buffalo, NY Largo Capital closed the following:  

  • Perry Miceli, principal at Largo Capital, arranged financing for a portfolio of garden style apartments. Placed with one of Largo’s correspondent life insurance lenders, the $31 million non-recourse loan provided a low ten-year fixed rate amortized over 30 years. The loan allowed the owners to refinance existing debt and provided substantial cash-out proceeds.
  • Dave Carswell, managing director at Largo, recently closed a $3 million refinance for a self storage property in Syracuse. The borrower was able to lock into an attractive 10-year fixed rate and take cash out for future acquisitions. The loan was 80% LTV and featured a 25-year amortization with no prepayment penalty.
  • Matthew Guidarelli, vice president at Largo Capital, arranged financing for an apartment community in Saratoga County. Guidarelli negotiated a $11.7 million non-recourse loan for the borrower with two years of interest-only followed by a 30-year amortization. The borrower locked into a low 15-year fixed rate and was provided a return of equity.
  • Kevin Heiss, managing director at Largo Capital, arranged a $5.4 million acquisition loan for an office building in downtown Toronto. Following renovations, the building will be leased as class A space in the highly sought after midtown submarket. The three year loan was placed with a Canadian lender.
  • Kevin Ross, vice president of originations out of Largo’s Toronto office, has arranged $9.1 million in non-recourse financing on behalf of a Canadian investor for two industrial properties in Columbus, OH and Detroit, MI. The loans are secured by over 210,000 s/f of class A industrial properties. Working with Largo’s correspondent lenders, Ross was able to negotiate low, fixed interest rates and provide the borrower with an equity takeout.


Add Comment

More from the New York Real Estate Journal