Largo Secures $12.7 Million in Financing for Three Office Properties in Upstate New York
BUFFALO, NY – October 14, 2020 – Ned Perlman, Vice President of Originations at the Largo Group of Companies, negotiated a $9.4 million loan with a federal credit union for a seven-story office building in Syracuse, NY. The 75% leveraged deal featured funds for tenant imporvements, 25-year amortization, partial recourse and no prepayment penalty.
In Buffalo, NY, Perlman closed a $2.4 million refinance for a 36,000 SF, four-story office building located in Buffalo’s Central Business District. The fixed rate loan provided a 10-year term with 25-year amortization.
Perlman also closed a life company deal on a 7,000 SF office building in suburban Buffalo. The 20-year self-amortizing mortgage offered the Borrower full leverage at 75% loan to value.
For more information, please contact:
O: 716.204.1360 | C: 716.531.5833
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 through its term.
Largo 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.