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Brokerage
Posted: October 27, 2015
Ross of the Largo Group of Companies secures $16.67 million in financing
Tavares, FL Kevin Ross of the Largo Group of Companies secured $16.67 million in financing for Canadian investors in Central Florida.
Ross arranged $12.47 million in financing for an 89,000 s/f grocery anchored retail center to be developed in Tavares, a suburb of Orlando. The center has prominent frontage from its corner location off of State Rd. 19 and Country Rd. 561, two main arterial roads connecting Tavares to neighboring cities including Orlando. The 7-year loan was structured with a 2-year construction component which converts to fixed-rate permanent financing.
Ross arranged a $4.2 million permanent first mortgage for the acquisition of the 76-room Holiday Inn Express located in Tampa. The hotel benefits from its close proximity to several attractions including the Raymond James Stadium, the home of the NFL’s Tampa Bay Buccaneers, Adventure Island and the Florida State Fairgrounds. The property is 8.1 miles northeast of the Tampa CBD and 15 miles from the Tampa International Airport. Ross secured a 5-year, floating rate permanent first mortgage with a 25-year amortization.
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