News:
Long Island
Posted: July 12, 2022
Carswell of Largo Group secures $4.5m refinancing
Manorville, NY Dave Carswell, managing director at the Largo Group of Companies, secured a $4.5 million cash-out, non-recourse loan to refinance a 21,000 s/f medical-anchored plaza.
The property is 95% occupied with an array of tenants including Long Island Urgent Care, a liquor store, pizzeria, bagel shop, and more.
The loan featured a 90 day rate lock and was closed more than six months before the anchor tenant will take occupancy.
The property is located off NY-27 the main east/west highway in southern Long Island.
Tags:
Long Island
MORE FROM Long Island
Suffolk County IDA supports expansion of A&Z Pharmaceuticals
Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
.gif)
.jpg)
Columns and Thought Leadership
The evolving relationship of environmental consultants and the lending community - by Chuck Merritt
When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.