Madore of Largo Capital arranges $2.7 million mortgage refinancing

Farmington, NY Patrick Madore of Largo Capital, Inc. arranged a $2.7 million permanent first mortgage to refinance an existing loan on a 50-unit multi-family apartment complex located just outside of Rochester, NY. The property, consisting of five 2-story buildings, benefits from its proximity to Interstate 90 and is situated in a fast-growing suburb with a high occupancy rate. The financing was arranged through one of Largo’s correspondent life insurance company lenders and includes attractive terms: a 10-year fixed rate and 25-year amortization. Loan proceeds will cover prepayment penalties, closing costs, and ongoing unit renovations. Largo’s in-house loan administration, nationally recognized for their service, will manage the loan throughout its term