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Posted: January 24, 2011
Casale of the Largo Group arranges $1.17 million financing
Zach Casale, account executive for the Largo Group of ComÂpanies, arranged $1.17 million to refinance the existing debt on Bryant Place Apartments. This apartment complex consists of 32 units and is situated on .47 +/- acres in Buffalo's Elmwood Village neighborhood, which is one of Buffalo's most sought after neighborhoods. The subject consists of 4 brick row-style buildings with 8 units per building. The subject contains all 2-bedroom units, and is presently 100% occupied. The borrower has over 30 years of real estate and development experience in the Buffalo area. Proceeds from this loan were used to purchase another peice of investment real estate to add to the owner's portfolio. Casale arranged a non-recourse deal with a 7 year term, sub 6% interest rate and a 30 year amortization schedule for the borrower.
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