TORONTO, ONTARIO – July 6, 2017 – Kevin Heiss, Managing Director of Largo’s Canadian operations, secured $90 million in financing for a 261-room full-service luxury hotel located in Toronto’s Financial District. The hotel, currently known as the Trump International Hotel, will undergo a significant renovation to the lobby, guest rooms, public areas and food and beverage outlets. During renovations, the hotel will run as The Adelaide Hotel Toronto and upon completion it will be renamed The St. Regis Toronto, the first St. Regis hotel in Canada.
St. Regis Hotels & Resorts is a classic luxury hotel brand that is part of the Starwood Hotels & Resorts Worldwide, Inc. owned by Marriott International. St. Regis has 36 premier destination hotels worldwide including 11 in the United States. This will be the first St. Regis hotel in Canada. Heiss arranged a 7-year, fixed rate permanent loan with 30-year amortization.
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.