ABOUT US
The Largo Group of Companies structures, arranges and closes commercial mortgages for acquisitions, refinances and redevelopment projects for developers throughout the United States and Canada. Largo is the largest privately owned commercial mortgage banking company in Upstate New York and currently has offices in Getzville, New York; Albany, New York; Toronto, Ontario; and Sarasota, Florida.
Founded in 1989 by Gary Coscia, the company was given the name "Largo" because the first deal financed with the company was in Largo, Maryland. Since 1989, Largo has grown consistently every year. In 1994, spearheaded by Stephanie Vogel, Chief Operating Officer, the company's servicing arm was implemented. The servicing department of Largo has now grown into a billion dollar operation, consistently generating revenue for the company year after year. Largo's first correspondent relationship began with AEGON in 1995; since then, Largo has gained 14 additional correspondent relationships with various institutional lenders.
In 2001, Largo developed a state-of-the-art web-based technology named CREDIT, the Commercial Real Estate Deal Information Tracker. CREDIT simplifies the real estate finance process and can be customized to meet the needs of a variety of different clients. Clients will experience reduced costs and increased productivity due to its ability to thoroughly organize and manage data.
In 2002, the company expanded its operations into Canada, by opening an office in
Toronto, Ontario.
Since then, the company has financed over $250 million in commercial mortgages. Soon after the Canadian office opened, Largo continued to grow through the opening of another office in Sarasota, Florida. Since its opening, Largo has financed over $325 million in Commercial Real Estate in Florida. In 2006, Largo also opened its Albany, New York office and has consistently grown in volume since then.
RECENT COMPANY ACHIEVEMENTS
Largo makes more headway in Canada with $32,250,000 in financings collateralized by five self-storage facilities in the Greater Toronto Area
Largo structured this $32 million transaction as two separate mortgages in the amounts of $25,000,000 and $7,250,000. The purpose of both mortgages was to refinance maturing debt. The borrower is an institutional real estate company focused on the ownership of self-storage units.
Largo experienced the long-awaited groundbreaking ceremony of the $44.6 million Niagara Falls Municipal Complex
In the fourth quarter 2007, 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 helped facilitate the largest Retail REIT transaction closed in the United States
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.
Largo's success becomes known in the Canadian marketplace
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
$250 million in commercial mortgages. Largo
Capital Limited provides construction loans, permanent
financing, bridge loans, and second mortgages on office,
industrial, retail, multi-family, condo, self-storage,
and hotel properties across Canada.
Please
refer to the Canadian page for
additional information about Largo Capital Limited.
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