Largo Arranges $16.2MM in Financing for Four Multifamily Properties Across WNY
BUFFALO, NY – AUGUST 27, 2018 – Perry Miceli, Principal of the Largo Group of Companies, arranged a total of $16.2MM in financing for four separate multifamily properties across WNY.
The first property is a luxury apartment complex located in Williamsville, NY. The community is comprised of six buildings housing 55 apartment and single-story townhome units. The subject offers easy access to the many shops, restaurants and entertainment along Main Street. Miceli arranged a fixed rate permanent first mortgage on behalf of the borrower through one of Largo’s correspondent banks.
The second property is located in Lockport, NY and consists of two apartment buildings with 56 units featuring one and two bedrooms. The property has recently undergone several renovations including updated carpeting, furnaces, baseboards and appliances. Miceli negotiated a fixed rate permanent first mortgage on behalf of the borrower through one of Largo’s correspondent life insurance companies.
Miceli arranged a permanent first mortgage to acquire the third apartment complex located in Buffalo, NY. The property consists of two buildings with 32 two-bedroom units. The subject benefits from its location just steps away from Elmwood Avenue, home to some of Buffalo’s most popular shops, bars and restaurants. Miceli secured a long term loan for the borrower through one of Largo’s correspondent life insurance companies.
The last property is a 38-unit apartment building in Orchard Park, NY. The subject is located in a former school building and was completely renovated from 2016 to 2017, now featuring stainless steel appliances, new counter tops, flooring and updated bathrooms. The unit mix consists of studio, one-bedroom and two-bedroom apartments, and two three-bedroom townhomes. Miceli arranged a fixed rate permanent first mortgage to refinance the existing debt on behalf of the borrower through one of Largo’s correspondent life insurance companies.
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.
Getzville, New York