Frank Giacobbe, account executive for Largo Real Estate Advisors, Inc. arranged first mortgage financing in the amount of $1.55 million for Bennington Greenlane Townhomes. The subject property is 100% occupied and consists of four buildings and 24 units.
Built in 1969, the apartments have recently been renovated with new appliances, HVAC systems and roofs. Bennington Green is located in close proximity to the Kodak Distribution Center and other businesses that create steady demand for this type of housing facility.
Giacobbe secured a 10-year fixed rate loan and 30-year amortization schedule for the borrower.
Largo is a commercial mortgage banking company that structures, arranges and closes commercial mortgages for acquisitions, refinances and redevelopment projects for developers. Tags: