Kevin Ross, Account Executive for Largo Capital Limited, arranged a permanent first mortgage in the amount of $5,580,000 for the acquisition of a 95 room Holiday Inn Express in Bowmanville, Ontario. The hotel is located just off Highway 401, the busiest highway in Canada. Bowmanville is the largest city in the Municipality of Clarington and is about 45 minutes east of downtown Toronto. Kevin secured a 2 year fixed rate deal and a 20 year amortization schedule for the borrower.
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.