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Brokerage
Posted: January 14, 2025
Miceli of Largo Real Estate secures $1.5 million permanent first mortgage refinance
Buffalo, NY Perry Miceli, principal at Largo Real Estate Advisors, Inc., successfully secured a permanent first mortgage to refinance the existing debt on two adjacent apartment complexes. This long-term fixed-rate loan, financed for the third time by Largo, was arranged through one of our correspondent life insurance lenders based in the Midwest. The loan featured a rate lock at application and non-recourse loan terms, providing stability and favorable financing conditions for the borrower. In addition, Largo will service the loan, including processing mortgage payments, on behalf of the lender as part of its $4.5+ Billion loan portfolio. At Largo, our strong partnerships with leading life insurance companies enable us to streamline commercial real estate financing, delivering customized solutions that meet our clients' specific needs.
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