$5M for Non-Recourse Loan

Zach secured a $5,550,000 non-recourse loan for this mixed-use property.
FOR IMMEDIATE RELEASE

Buffalo, New York- April 10, 2013 – Zach Casale, Account Executive for the Largo Group of Companies, arranged a permanent first mortgage for Ellicott Commons, a mixed-use property located on Ellicott Street in Buffalo, New York. The subject features 25,900 square feet of office and retail space on the first floor and 30 loft-style apartment units on the second and third floors. The apartment units range from 1,100 to 2,400 square feet and feature blonde bamboo flooring, and black granite countertops with stainless steel appliances in the kitchens. Ellicott Commons is conveniently situated one block from the Chippewa entertainment and theatre district, and is in close proximity to the First Niagara Center, Coca-Cola field, the waterfront and the Buffalo Central Business District. Zach secured a $5,550,000 non-recourse loan for the borrower. The loan was fixed for 10 years, amortizing over 27.5 years.

Largo has relationships with 17 correspondent lenders and offers additional lending sources to the marketplace, which will benefit owners and developers of commercial properties providing alternative finance options. Largo offers long-term, non-recourse financing at a competitive fixed rate for its borrowers through its strong network of correspondent lenders.

The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.

For further information, please contact:

Zach Casale, Account Executive
(716) 204-2215 – zcasale@largocapital.com

Lori Tirado, Director of Marketing
(716) 204-2223 – ltirado@largocapital.com