Largo arranges financing for commercial properties - $27.3 million total

The Largo Group of Companies arranged the following $27.3 million in financing for various commercial properties located throughout Upstate: * Jack Phillips and Perry Miceli, principals of Largo, arranged $18.1 million in financing for two multifamily complexes, Webster Green II, located at 1205 Rousseau Dr., Webster and Richland Townhomes located at 73 Windwood Circle, Rochester. Webster Green II features 35 two-bedroom and 35 three-bedroom apartment homes with attached garages and amenities. Richland Townhomes consists of 53 ranch style units featuring two bedrooms and two bathrooms. Phillips and Miceli secured a 15-year fixed-rate loan for both properties through one of Largo's correspondent life insurance companies. * Zach Casale, account executive of Largo, arranged $2.2 million for a manufactured housing community in Falconer and an industrial property in Buffalo. The first property, Falconer Village Manufactured Housing Community, features 53-pads and is located 3 miles from Jamestown. Casale arranged a 5-year term with 15-year amortization for the borrower. The second property, Niagara Industrial, is a 140,000 s/f industrial property located in Buffalo. Casale arranged a 20-year fixed rate self-liquidating loan through one of Largo's correspondent life insurance companies that focuses on providing financing for small loans ranging from $500,000 to $5 million. * Kevin Heiss, managing director of Largo, arranged $6.95 million in financing for two hotel properties located in Cheektowaga and Dunkirk. Both properties have long-term franchise agreements with Choice Hotels. The first property, Quality Inn Airport, recently underwent an extensive PIP renovation required by the franchisor. The hotel now features 104 renovated rooms and is within minutes of the Buffalo-Niagara International Airport. The second property, the Clarion Hotel Marina and Conference Center, is located in Dunkirk. The Clarion is a limited service hotel that features 127 rooms and offers numerous amenities to its guests, including a free hot breakfast, indoor heated pool and fitness center. The hotel provides access to Dunkirk's main areas of interest, including the Chadwick Bay, Dunkirk Lighthouse and the Rockefeller Arts Center. Heiss arranged a 5-year fixed rate loan with a 20-year amortization for both properties.