Zach Casale, account executive for the Largo Group of Companies, arranged $10.275 million to refinance the existing debt on a self-storage facility and multifamily property both in Buffalo and two manufactured housing communities located in Central NY.
The first property, Hamburg Self Storage, is a 596 unit facility in Hamburg. It is located a half mile from Interstate-90, near the corner of Southwestern Blvd. and Camp Rd., the major commercial thoroughfares servicing Hamburg and the south towns. Zach arranged a 15 year self-amortizing mortgage with one of Largo's correspondent life insurance companies while coordinating the sponsor's defeasance payoff from a previous CMBS note.
The second property, known as Elmwood & Somerset Apartments, is a 72 unit multifamily property located in Buffalo. Casale secured a fixed 10-year deal, 30-year amortization and non-recourse terms for his client. This transaction was closed through one of Largo's Fannie Mae correspondent lenders.
Casale closed two manufactured housing communities located in Central NY containing 162 Pads. Zach arranged a 10 year deal, 25 year amortization schedule and non-recourse terms for his client. Tags: