Albany, NY Brian Sheldrick, managing director of Largo’s local office, secured a $12.9 million permanent first mortgage to refinance the existing debt on a 270,000 s/f office building.
The three-story building is located north of the Downtown Albany Central Business District and is leased to New York State departments as well as professional tenants.
Sheldrick arranged a five-year permanent first mortgage with 25-year amortization on behalf of the borrower.
The Largo Group of Companies is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges commercial real estate financing structures for borrowers throughout the U.S. and Canada. Largo has 21 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate.