Dealmaker: Largo Capital Arranges $46M for Multifamily, Office, Industrial Assets

Largo Capital, Buffalo, N.Y., arranged $45.5 million for multifamily, office and industrial assets in the U.S. and Canada.

Largo Capital Principal Perry Miceli arranged $31 million in financing for a portfolio of garden-style apartments in Orchard Park in suburban Buffalo. Placed with one of Largo’s correspondent life insurance lenders, the non-recourse loan provided a 10-year fixed rate amortized over 30 years. The loan allowed the owners to refinance existing debt and provided substantial cash-out proceeds.

The firm’s Toronto office secured $14.5 million for assets in Toronto, Columbus and Detroit. Vice President of Originations Kevin Ross arranged $9.1 million in non-recourse financing for a Canadian investor for industrial properties in Columbus and Detroit. More than 210,000 square feet of Class A industrial properties secure the loans.

Working with Largo’s correspondent lenders, Ross negotiated fixed-rate loans that allowed the borrower an equity takeout.

Largo Managing Director Kevin Heiss also arranged a $5.4 million acquisition loan for a downtown Toronto office building. Following renovations, the building will be leased as Class A space in the sought-after midtown Toronto submarket. A Canadian lender funded the three-year loan.