Farah Agha of Largo Real Estate Advisors, Inc. arranged first mortgage financing in the amount of $6.94 million for five multifamily properties throughout the Buffalo-Niagara Falls area. The subject properties consist of:
* Almar Apartments, 9807 Porter Rd.
* Northbridge Apartments, 6627-6711 Buffalo Ave.
* Silver Lake Apartments, 8235 & 8305 Buffalo Ave.
* Whitmill Apartments, 3131 - 3143 Bellreng Dr.
*Village Cove Apartments, South 7th St., Lewiston.
Almar consists of 36, one-bedroom units; Northbridge consists of 48, one and two-bedroom units; Silver Lake consists of 60, one and two-bedroom units; Whitmill consists of 48, one and two-bedroom units; and Village Cove consists of 30, one and two-bedroom units. The properties have a total of nine vacant units for an overall occupancy rate of 97%.
Largo secured a 10-year fixed rate loan and 30-year amortization schedule for the borrower. Tags: