BUFFALO, NY – August 10, 2017 – Jack Phillips, Principal of the Largo Group of Companies, secured $9 million for two office buildings located in Buffalo, New York.
The first office property is a 66,000 square foot Class A professional office building located in the heart of Buffalo’s Theater District, and within walking distance to downtown Buffalo’s Central Business District. The property is conveniently located within close proximity to the Buffalo Niagara Medical Campus, Shea’s Performing Arts Center, Key Bank Center, Coco-Cola Filed, and the Allentown and Elmwood Village Districts. The property offers ample on-site covered parking and 24-hour security. Phillips arranged a 7-year, fixed rate permanent first mortgage with 25-year amortization on behalf of the borrower.
The second property is approximately 21,000 square feet and ideally located across the street from the Buffalo Niagara International Airport on Genesee Street, which is easily accessed by all of Buffalo’s surrounding suburbs. Genesee Street, a major west/east commercial corridor, is fully developed with retail, office, hospitality, and industrial properties. The subject has been built out to accommodate administrative offices for the area’s largest Orthopedic providers. Phillips negotiated a 7-year, fixed rate permanent first mortgage with 30-year amortization.
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.