Phillips of Largo arranges $1.8 million first mortgage for 14,459 s/f medical office building

Jack Phillips, managing director for the Largo Group of Companies, arranged a $1.8 million permanent first mortgage to refinance the existing debt on a 14,459 s/f single-story medical office building located on 310 Sterling Dr. The subject property is currently 93% occupied by Cardiology Group of WNY, Southtowns Surgical Associates, and Sleep Telemedicine Services. The property benefits from its location within the Sterling Office Park which features medical office buildings similar to the subject property, as well as conventional office users such as Bryant & Stratton Professional College and the Mentholatum Corporate Headquarters. Largo Group 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.