News: Brokerage

Outside the Region: Ross of Largo Group of Cos. negotiates five loans totaling $25.65 million

Grand Blanc, MI The Largo Group of Cos. have completed the following transactions:

Kevin Ross, vice president of originations at Largo Capital, handled the following loans: 

• A $14.35 million mortgage to refinance a 90,000 s/f office building in Montreal, Quebec. 5250 Decarie is a multi-tenanted office building just west of downtown. Ross arranged a ten-year, fixed rate first mortgage with 25-year amortization through one of Largo’s US Life Insurance Cos.

• A $1.5 million loan to refinance the existing debt on a 171-unit self-storage facility in Mount Albert, Ontario. The project is newly constructed and offers climate controlled storage units. The three-year, fixed rate mortgage with 25-year amortization was funded through a recently formed Schedule I Bank in Canada.  

• A $3.5 million loan, which was used to acquire two multi-tenanted office buildings. Both properties are well-located within the suburbs of Trenton, N.J.  Ross arranged a three-year, interest only mortgage through one of Largo’s correspondent lenders.  

• $3.1 million, which was structured to refinance the existing debt on a 75,000 s/f mixed-use property in Montreal, Quebec.  The property was 100% occupied at the time of financing. Ross negotiated a five-year, fixed rate mortgage with 25-year amortization on behalf of the borrower.  

• A $3.2 million loan used to acquire a limited service hotel in the Buffalo-Niagara MSA. The Best Western Plus features 95-rooms with an indoor pool, fitness center and 8,800 s/f of meeting space. Ross arranged a five-year mortgage with 25-year amortization.  

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their