News: Front Section
Posted: October 30, 2020
Carswell of Largo arranges $18 million financing for two multifamily portfolios in Hartford, CT
Hartford, CT Dave Carswell, managing director of Largo’s Manhattan office, arranged $18 million in CMBS financing for two multifamily portfolios.
Carswell secured $8.2 million for the first portfolio consisting of seven properties. The non-recourse, 10-year mortgage featured a competitive interest rate, three years of interest-only payments and a 30-year amortization. Largo was able to close this transaction in less than six weeks.
Carswell arranged $9.8 million for the second transaction consisting of 170 fully-occupied units. The non-recourse, 10-year loan included a low fixed rate with a five-year interest-only period.
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