Largo Group of Cos. originates over $10b in comm'l. mortgages and services portfolio in excess of $1b

Despite the volatility in the market, The Largo Group of Companies is proud to work in a city that is considered to be one of the most stable lending environments in the country. Buffalo was rated fourth among America's 25 strongest housing markets on Forbes list, recently released on January 7, as a direct result of the area not falling victim to the sub-prime housing bubble and over-inflated home values. This level of stability is reflected throughout the commercial real estate market and is considered to be a safe haven for invested capital. Largo is a full-service commercial real estate finance company with extensive knowledge and expertise in mortgage finance, portfolio management, asset management, and structuring and servicing commercial mortgages. Based in WNY, Largo has become one of the largest mortgage banking firms in upstate New York and maintains a strong international presence through its Canadian operations. As an indication of Largo's expertise, the company helped facilitate a $6.2 billion retail REIT transaction consisting of 330 properties totaling 43.6 million s/f. This deal is considered to be the largest U.S. retail REIT transaction closed to date. Largo streamlined the entire transaction and helped all parties involved track the flow of information with ease, leading to a successful and timely closing. Largo has originated over $10 billion in commercial mortgages and currently houses a servicing portfolio in excess of $1 billion. Because of our proprietary web-based system and strong support staff, Largo is equipped to support all types of commercial real estate services. Largo's staff benefits from its senior management's 100 plus years combined experience in all facets of commercial real estate, loan valuation, financing and asset management. As a result of their experience, Largo has seen the real estate industry from every angle - as a lender, servicer and mortgage banker. This unique perspective allows Largo to be strategic and efficient throughout these difficult times. Thus, Largo has partnered with other experienced real estate firms to create Lender Real Estate Solutions, LLC (LRES). LRES is a full-service commercial real estate partnership whose express intent is to offer a wide spectrum of services to institutional lenders and investors in the real estate market. The members of LRES have worked through the effects of the U.S. Prime Rate reaching 21%, the tax law change in 1986, the savings and loan crisis and the RTC period, and continue to be intimately involved in their specific area of real estate expertise. Through the knowledge of each member, LRES is uniquely qualified to provide an independent review and analysis of a company's real estate portfolio, recommend work-out solutions, offer appraisal and environmental services, and provide legal support for all areas of commercial real estate. With its well qualified and experienced staff, LRES fully understands the complexities of a lending institution's needs in their mortgage, credit, special/troubled assets and front line departments. In addition to the partnership mentioned above, Largo continues to finance commercial real estate, and has found its niche by capitalizing on its relationships with correspondent lenders who remain healthy despite the volatility in the market. Largo has played a significant role in the development of the $44.6 million Niagara Falls Municipal Complex. Largo, along with a local developer, structured the financing and development of the new courthouse and police station for the city of Niagara Falls. The project is scheduled for a spring 2009 completion. This project signifies the beginning of positive growth for the area. Furthermore, Largo's international status became known in 2002 with the opening of its Canadian operations; and since then Largo has financed over $250 million in commercial mortgages through various property types. Largo continues to maintain its success in the Canadian marketplace, with the latest loan closing of a $32.25 million portfolio of self-storage facilities in the Greater Toronto area, during the fourth quarter 2008. Kevin Heiss structured this transaction as two separate mortgages. The $25 million mortgage was collateralized by four self-storage facilities comprised of 2,937 units, while the $7.25 million mortgage was collateralized by a single self-storage facility consisting of 838 units. Other Recent Financings Include: * $14.75 million in first mortgage financing for Dent Medical Tower, a six-story 68,755 s/f medical office building located in Amherst. Dent Tower is located along Sheridan Dr. in a highly commercial area, with immediate access to I-290. Dent Tower was built in 1971; however, in 2004 it underwent renovations to the façade and lobby, as well as new signage. The subject is currently 100% occupied and houses Dent Medical Suite, Academic Medical Services, CPL Associates and Urgent Care Services. * $6.11 million in construction financing for a 26,026 s/f multi-tenant, class A medical office building situated along the northwestern perimeter of Dent Medical Tower in Amherst. The building will be 100% occupied by three tenants, the University of Buffalo's Neurosurgery Group, Dent Imaging and Dr. Bagnall. The Neurosurgery Group is supported by the University of Buffalo's Nuclear Research Division which currently occupies space within Dent Medical Tower. * $8 million in permanent first mortgage financing of a 189-room full service hotel located in Niagara Falls. The subject property used to operate as a Four Points Sheraton and was recently reflagged as a Holiday Inn. The borrower intends to expand the hotel with an additional 80 rooms for which Largo will also provide the financing. The project recently underwent a complete facelift to accommodate new IHG (Intercontinental Hotel Groups) standards for all Holiday Inn branded hotels. * $3.315 million in construction financing for the development of Women's Health Center, a 12,276 s/f medical office located in Amherst. The building is 100% leased by two tenants, Dr. Vivian Lindfield and Diagnostic Imaging Associates. Largo's executive staff includes:Gary Coscia, president and CEO of the Largo Group of Companies, has been in the mortgage banking industry for over 32 years. He began his career with Marine Midland Bank (HSBC US) in 1977. During his 12 year career at the bank, Coscia created and managed a national mortgage banking operation that amassed over $3 billion in loan originations. Coscia continues to manage and build Largo into what has become one of the country's foremost mortgage banking firms. Largo is considered the largest privately owned commercial mortgage banking company in upstate New York with operations in Getzville (Buffalo), New York; Albany, New York; Toronto, Ontario; and Sarasota, Florida. Stephanie Vogel, COO, has been with Largo since 1993 and currently oversees the company's daily operations. She originally began working as an analyst/underwriter and a loan closer; however, in the mid-1990s, Vogel created and implemented Largo's servicing arm which now includes over $1 billion in commercial real estate loans. She is a licensed associate real estate broker and received her MBA from Niagara University. Jack Phillips, principal, began his career 20 years ago working for one of the region's largest developers, followed by employment with a well-known banking institution. Phillips has been a Largo employee for over 17 years, originating in excess of $2.5 billion in loans since 1995. Phillips has been an integral part of the growth and success of Largo. He is well-known and respected throughout the real estate industry as one of the most creative and successful mortgage bankers in upstate New York. Perry Miceli, principal, joined Largo in 2001, bringing with him 18 years of real estate experience. Miceli is regarded as one of the most successful mortgage bankers in upstate New York, financing over $2 billion in commercial real estate. He also represents some of the largest developers in the upstate region, on an exclusive basis. Prior to joining Largo, Miceli owned and managed his own mortgage banking company for over 10 years.