Frank Giacobbe, account executive for Largo Real Estate Advisors, Inc. arranged first mortgage financing in the amount of $1.1 million for four mixed-use properties. The properties include: 53 Days Park, which is a two-unit apartment building; a mixed-use property located at 415 Franklin St.; 1131 Delaware Ave., which is an office property occupied by Delaware Pediatrics and Home Restoration; and 466 Franklin St., a mixed-use property that is occupied by one commercial tenant and three apartment tenants. All of these properties have been restored by the borrower in recent years and are 100% occupied.
Giacobbe secured a 10-year fixed rate loan with one rate reset and a 22-year amortization schedule. Tags: