Jack Phillips, Principal for the Largo Group of Companies, arranged $22,250,000 in permanent first mortgage financings that included a medical office building in Amherst, New York and the Lafayette Court Building in Buffalo, New York.
The first property, a 67,442 square foot medical office building located in Amherst, New York, is highly visible from Interstate 290 and is commonly known as Dent tower. This $14,750,000 loan was arranged through a correspondent bank and placed on behalf of Matrix Development Corporation, a successful WNY based medical office developer.
The second property, the Lafayette Court Building or 465 Main Street, is a 210,015 square foot office building in downtown Buffalo, New York. The $7,500,000 loan was arranged through a correspondent life insurance company. The loan was placed on behalf of Ciminelli Real Estate Corporation, a successful, full service commercial real estate servicing firm with offices in New York, Florida, Pennsylvania and Connecticut.
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.