Homebuilder, industrial property owners secure financing

Largo Capital in Sarasota has arranged the financing for five single-family homes to be built in Manatee County’s Cortez.

The houses, being built by Pearl Homes, are part of Hunter’s Point, an 86-unit residential resort community. 

The 18-month loan is for $4.34 million and features interest-only payments for the full term. 

The three-story detached homes will be three bedrooms and include a two-car garage and a private plunge pool. 

Largo previously financed six other houses in the development. 

Largo also arranged the financing for a fully occupied industrial and retail portfolio in Sarasota. 

The $3.75 million 10-year loan comes with a 5-year fixed rate, 25-year amortization and no prepayment penalty. 

The borrower is a Miami LLC.

The properties are two adjacent industrial buildings totaling 17,000 square feet at 2155 19th St. 

The standalone 5,000-square-foot retail building is at 4571 Clark Road. 

Both loans were arranged by Largo’s Ian Fitzgerald.