News: Financial Digest
Posted: December 11, 2008
Giacobbe of Largo Group arranged $1.8m first mortgage financing
Frank Giacobbe, account executive for the Largo Group of Cos., arranged a permanent first mortgage in the amount of $1.8 million to acquire an existing 199-unit self-storage facility. The subject features 24 hour key pad access, surveillance cameras and an 8 inch chain link fence around the perimeter, with unit sizes ranging from 50 s/f to 400 s/f. Built in 2002, the subject is situated on 2.2 acres of land. Giacobbe secured a 10 year fixed rate loan with a 25 year amortization schedule for the borrower.
The Largo Group is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects.
Tags:
Financial Digest
MORE FROM Financial Digest
Preservation of Affordable Housing secures $23.5 million in financing from Rockland Trust and Citizens Bank
Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
Quick Hits
Columns and Thought Leadership
Examples of investors who used Kay Properties for legacy and estate planning purposes for rental property/portfolios - by Dwight Kay
Preserving wealth across multiple generations requires strategic planning, foresight, and the right investment vehicles. Delaware Statutory Trusts (DSTs) offer a powerful solution for families looking to build and protect their financial legacy and to efficiently plan for their estate.
Conn. hospitality market: A technical appraisal perspective on market dynamics and valuation challenges (2019-2025)
The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
