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Posted: May 15, 2018
Outside the Region: Svec of Largo Group of Cos. arranges $14 million acquisition financing
Janesville, WI John Svec, managing director of the Largo Group of Companies, arranged a $14 million permanent first mortgage to acquire a portfolio of Midwestern bank branches. The 11 Wisconsin banks are secured by 10 and 15-year leaseback terms to BMO Harris Bank, a multi-national credit tenant (A+/Aa3). Svec negotiated attractive leverage, a five-year term, and a low fixed rate. To further compliment his client’s ‘Renovate & Resell’ strategy, Svec arranged an interest-only period during renovation and 0% prepayment penalty upon sale.
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