Giacobbe of Largo finances $4.8 million for 20,851 s/f kidney dialysis center

Frank Giacobbe, account executive for the Largo Group of Companies, arranged a $4.8 million construction to permanent loan for the 20,851 s/f Unity Health kidney dialysis center. Construction began in April and is expected to be completed this coming November. The subject is located at Union St. and Big Ridge Rd. The borrower has the ability to rate lock prior to construction completion. The interest rate for the permanent financing will reset in year five and year 10. Unity Hospital signed a 15-year lease, which is guaranteed by the par­ent company, Unity Health System, Inc. Founded in 1997, Unity Health System operates as a health care network to serve the city of Rochester and western Monroe County. Its services include acute care, mental health and chemical dependency, physical medicine and rehabili­tation, primary care and family medicine, continuing care, housing, laboratory, occupational health, and child care services, as well as senior housing, preventive health care services, pro­grams and services for seniors, women's health services, and emergency services. Largo is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the U.S. and Canada. They manage the loan process from loan application through closing and service the loan throughout its term.