Casale of the Largo Group of Companies arranges $10.3 million to renovate the Lafayette Hotel

Zach Casale, account executive for the Largo Group of Companies, arranged $10.3 million to renovate the Lafayette Hotel. The loan consists of a 24 month interest only construction term and a 10 year permanent option. The redevelopment of the 380,000 s/f building includes 115 market rate apartments, 24 hotel rooms, a banquet facility, as well as some retail. Construction is currently underway with a May scheduled opening. The commercial portion of the project is 100% leased with Butterwood Desserts, Andrews Jewelers, and Michael A's Steak House, as its main tenants. The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects.