Jack Phillips arranged financing for Delaware Medical Center in Tonawanda, New York

Jack Phillips secured a 5 year term and a 25 year amortization schedule for the borrower.

FOR IMMEDIATE RELEASE
Buffalo, New York – August 30, 2012 – Jack Phillips, Principal for the Largo Group of Companies, arranged permanent financing in the amount of $2,850,000 to refinance the existing debt on a medical office building located along Delaware Avenue in the Town of Tonawanda, a northern suburb of Buffalo, New York.  In addition to retiring existing debt, the financing will also allow for a 4,402 square foot addition to accommodate a new dialysis center.  Jack Phillips arranged a 5 year term with a 25 year amortization schedule for the borrower.

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 Companies 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. We manage the loan process from loan application through closing and service the loan throughout its term.

For further information, please contact:  

Jack Phillips,  Principal
(716) 204-2212  •  jphillips@largocapital.com

Lori Tirado, Director of Marketing

(716) 204-2223  •  ltirado@largocapital.com