$18.1M Arranged In Financing for Multifamily Complexes
Jack Phillips and Perry Miceli, Principals of Largo, arranged $18.1 million in financing for two multifamily complexes, Webster Green II and Richland Townhomes located in the suburbs of Rochester, New York.
Webster Green II, located in Webster, New York features 35 two bedroom and 35 three bedroom luxury apartment homes with attached garages and significant amenities. Richland Townhomes, located in Greece, NY, consists of 53 ranch style units featuring two bedrooms and two bathrooms. Jack and Perry secured a 15 year fixed rate loan for both properties through one of Largo’s correspondent life insurance companies.
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.