Jack secured a non-recourse 10 year fixed rate loan for the owner of this property.
FOR IMMEDIATE RELEASE

Buffalo, New York- May 3, 2013 – Jack Phillips, Principal for the Largo Group of Companies, arranged $3,450,000 to refinance the existing debt on a 150 pad manufactured home community located in Alden, New York. The park currently has 135 pads that are constructed and 15 under development. Jack secured a non-recourse loan that is fixed for 10 years, with a 30 year amortization schedule.

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.

For further information, please contact:

Jack Phillips, Principal
(716) 204-2220 – jphillips@largocapital.com

Lori Tirado, Director of Marketing
(716) 204-2223 – ltirado@largocapital.com