TORONTO, ON – October 4, 2016 – Kevin Ross, VP of Originations for The Largo Group of Companies, secured $18,950,000 in debt for four industrial properties totaling over 1 million square feet in Tennessee, Mississippi and Montreal, Quebec.
Ross secured a $10,000,000 permanent first mortgage to refinance the existing debt on a 190,000 square foot warehouse property in Montreal, Quebec. The property is conveniently located in proximity to Montreal’s Pierre-Elliott Trudeau International Airport. Ross arranged a 10-year, non-recourse, fixed rate loan through one of Largo’s US life insurance companies.
Ross also arranged a total of $8,950,000 in financing for one of Largo’s Canadian clients in two separate transactions. The first loan was for a 500,000 square foot, single-tenant industrial property situated in a well-established industrial park in Southaven, Mississippi. The second transaction includes two industrial buildings totaling 360,000 square feet in Memphis, Tennessee. In both cases, Ross secured fixed rate, 10-year permanent mortgages through one of Largo’s 18 correspondent life insurance companies.