Buffalo, NY – March 29, 2022 – Jack Phillips, Principal of the Largo Group of Companies, arranged an $11.25 Million permanent first mortgage to refinance the existing debt secured by a multifamily/commercial portfolio in Buffalo, NY. The portfolio features 7 multifamily properties with a combined 168 units and 13,000 SF of commercial space. All properties are located in Western New York, including Buffalo, Tonawanda and North Tonawanda.
Phillips arranged a five-year term with I/O and 30-year amortization on behalf of the borrower at a competitive fixed rate.
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 Capital 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 through its term.
Largo Capital has 25 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. Founded in 1989 by Gary Coscia, Largo Capital has financed $31 Billion in commercial mortgages and has a servicing portfolio exceeding $3 Billion.