Largo was selected in the first quarter 2007 by Developers Diversified Realty Corporation (DDR) to help facilitate a $6.2 billion transaction with Inland Retail Real Estate Trust and a joint venture with TIAA-CREF, a deal which is considered to be one of the largest Retail REIT transactions closed to date. The transaction consisted of over 275 properties located throughout the nation. Largo was able to streamline the entire transaction and help all parties involved track the flow of information with ease, leading to a successful and timely closing. This transaction alone provides another dimension to the value Largo adds for its clients.
In the second quarter 2013, Largo closed on this portfolio that was structured as a three year deal with two extension options and an interest-only period. The properties were leased to strong anchors including Publix, Kroger, Winn Dixie, Wal-Mart, Cub Foods, and Food Lion. The properties were located throughout the United States and were situated in primary and secondary markets including Minneapolis/St. Paul, Charlotte, Pensacola, Atlanta, Huntsville, AL, and Washington, DC.
In the second quarter 2013, Largo refinanced the existing debt on a 1.755 million square foot warehouse/distribution facility located in Rochester, New York. The subject property is located within the Kodak Park and was formerly Kodak’s distribution facility. At the time of the acquisition, the building was nearly vacant and over the past few years the borrower has leased over 1.54 million square feet of space. Largo secured a 10 year fixed rate loan with a 30 year amortization schedule for the sponsor.
Largo has relationships with 17 correspondent lenders and offers additional lending sources to the NYC 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.
In the fourth quarter 2012, Largo refinanced the existing debt on 3 multifamily properties consisting of 892 units within the Buffalo-Niagara MSA and Albany-Troy-Schenectady MSA. The subject portfolio is 96% leased and is made up of Country Club Manor, Menands Gardens and Woodlake Village.
In the fourth quarter 2012, Largo arranged the financing for this 440,000 square foot building that is 68% occupied by Calspan Corporation. Calspan is a technology company with a strong focus in the aerospace and transportation research field.
The Thompson Hotel is located in the heart of downtown Toronto’s Fashion/Entertainment District. This 102 room, boutique hotel opened in June 2010, with the restaurant tenant, Scarpetta, fully operational by August 2010. This location serves as the Thompson brands’ first location outside the United States.
In the fourth quarter 2010, Largo arranged this $52.5 million transaction to refinance the existing debt on the Hudson Valley Mall. It is a 765,269 square foot enclosed regional mall located in Kingston, New York. This property is the only primary shopping destination within a 30-mile radius.
In Q1 2008, Largo experienced the long-awaited groundbreaking ceremony 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 completion of this project will signify the beginning of a positive outlook for the area.
Largo’s international status became known in 2002 with the opening of its Canadian operations. Since the opening of the Canadian office, Largo has financed over $500 million in commercial mortgages. Largo Capital Limited provides construction loans, permanent financing, bridge loans, and second mortgages on office, industrial, retail, multifamily, condo, self-storage, and hotel properties across Canada.