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Brokerage
Posted: October 4, 2007
Kennedy of Largo finances $3m for the 91-unit Heritage Apartments
Christopher Kennedy, account executive for Largo Real Estate Advisors, Inc. arranged first mortgage financing in the amount of $3 million for a 91-unit apartment complex located at 425 Glen St. The building is occupied by a combination of young professionals and older retired people. The demand for the units is primarily driven by the property's proximity to the GNA office building, as well as Glens Falls Memorial hospital.
Kennedy secured a 10-year fixed rate loan with a 30-year amortization schedule for the borrower.
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