BUFFALO, NY – November 9, 2016– Perry Miceli, Principal of the Largo Group of Companies, secured $18.6 million in financing for three multifamily properties located in Upstate New York and Florida.
Miceli arranged $2 million in permanent financing to refinance the existing debt on a multifamily complex located in Fairport, New York, a suburb of Rochester. The complex consists of 15 buildings with 30, two-story townhome units. In addition, Miceli secured $9 million in permanent financing for a multifamily complex in Spencerport, New York. The complex features 13 apartment buildings consisting of 105 units and is in close proximity to the Interstate-490, which has direct access to Rochester’s CBD. Miceli secured two separate 10-year permanent first mortgages through Largo’s correspondent lenders.
Miceli also arranged $7.6 million in financing for a multifamily property in Florida located approximately 10 miles north of Orlando. The subject property is a 144-unit multifamily complex with a wide range of amenities. The property is located in a heavily developed area anchored by the Altamonte Mall. Miceli secured a 12-year term with a 30-year amortization schedule, including four years of interest-only payments, through one of Largo’s correspondent life insurance companies.