Heiss of The Largo Group of Companies arranges $20.45 million first mortgage financing

Kevin Heiss, managing director of the Largo Group of Companies, arranged a $20.45 million first mortgage collateralized by a 170,270 s/f power center. The subject, known as the Village Shoppes at Salem, benefits from its exposure along South Broadway, the main commercial arterial in town, and anchor tenants which include Best Buy, Michaels, Sports Authority, PetSmart and DSW. The loan was structured as a 7-year interest only deal. Largo has relationships with 17 correspondent lenders and offers additional lending sources to the marketplace, which will benefit owners and developers of commercial properties providing alternative finance options. Largo offers long-term, non-recourse financing at a competitive fixed rate for its borrowers through its strong network of correspondent lenders. The Largo Group of Cos. is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. They manage the loan process from loan application through closing and service the loan throughout its term.