BUFFALO, NEW YORK – August 1, 2017 – Jack Phillips, Principal of the Largo Group of Companies, secured $16.6 million on a portfolio of three industrial-office properties and a mixed use property located in New York.
The first property includes three industrial-offices located along Cayuga Road in Buffalo, New York. The subject is directly adjacent to the Buffalo Niagara International Airport, which is easily accessed by all of Buffalo’s surrounding suburbs and Buffalo’s central business district. Phillips arranged a 10-year, fixed rate permanent first mortgage with 20-year amortization through one of Largo’s correspondent lenders.
The second property is a 29,000 square foot mixed use building situated on the Keuka College campus in Keuka Lake, New York. The two-story building will feature Keuka College’s bookstore, a Starbucks Coffee, and the college health center. Phillips negotiated a 10-year, fixed rate permanent first mortgage with 25-year amortization on behalf of the borrower.
The Largo Group of Companies is a commercial mortgage banking firm that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative commercial real estate 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.
Largo has 21 correspondent relationships and offers additional lending sources, providing property owners and developers long-term, non-recourse commercial real estate financing at a competitive fixed rate.