BUFFALO, NEW YORK – July 25, 2017 – Perry Miceli, Principal of the Largo Group of Companies, secured $20.8 million for two multi-family properties in WNY.
The first property is a 109-unit apartment complex located in Buffalo, New York. The subject is within walking distance to a number of the area’s amenities including Delaware Park, Canisius College, Buffalo State College, Forest Lawn Cemetery and multiple retail plazas and restaurants. The apartment complex is situated within immediate proximity to the Scajaquada Expressway, a major east/west thoroughfare that connects to the NY Interstate 90 and 190. Miceli arranged a 10-year, fixed rate permanent first mortgage with 30-year amortization through one of Largo’s correspondent lenders.
The second property is a 344-unit residential apartment complex located in Rochester, New York. The subject features one and two bedroom units, coin operated laundry facilities, an outdoor pool, an emergency management service, and ample off-street parking. Miceli secured a 10-year, fixed rate permanent first mortgage with 30-year amortization through one of Largo’s correspondent lenders.
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.