BUFFALO, NY – August 8, 2017 – Ned Perlman, Account Executive of the Largo Group of Companies, secured $1.3 million for a retail strip center in Illinois and a multi-tenant light-industrial flex building in Pennsylvania.
The 5,000 square foot strip center is situated in Champaign, Illinois which is approximately 135 miles from Chicago. The building is currently 100% occupied by Starbucks, Sprint, and H&R Block and recently underwent renovations. Perlman negotiated a 20-year, fixed rate permanent first mortgage with 20-year amortization through one of Largo’s correspondent lenders.
The multi-tenant light-industrial flex building was constructed in 1991 and is located in Erie, Pennsylvania within the EBCO Business Community Park. This business community park is Erie’s first light-industrial park that is meeting the needs of over 80 local and national companies. The building is located less than a mile from Interstate 79, the Erie International Airport, and the Conrail Railroad. Perlman arranged a 10-year, fixed rate loan with 20-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 innovative commercial real estate 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.
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.