Phillips and Perlman of Largo Capital arrange five mortgages

 

 

Dewitt, NY Largo Capital, Inc. arranged five first mortgages.

Jack Phillips, principal at Largo Capital, Inc. secured a $21.75 million leasehold mortgage to refinance the existing debt on a newly developed industrial building located in Dewitt. The building features 285,000 s/f of warehouse/distribution space, equipped with 27 dock-height doors and two drive-in style doors. In addition, the facility is positioned within a larger, 97-acre industrial campus that is centrally located along I- 90, 690, 81, and 481.

Phillips secured an $11.1 million permanent first mortgage to refinance the existing debt on a 150,000 s/f class A office building located in Buffalo. The property is 100% occupied and features a full-service kitchen/dining area, stair halls, and circulation patterns designed to accommodate future expansions. In addition, the project provides proximity to major travel routes and transportation centers, including the Buffalo Niagara International Airport and I-90.

Ned Perlman of Largo Capital arranged a permanent first mortgage to replace the existing debt on the newly developed Cayuga Park medical office building in downtown Ithaca. The project is 64,500 s/f and offers on-site services including a walk-in clinic. This development represents a major milestone, as it establishes the property as the city’s newest and most comprehensive facility for medical services.

Perlman also obtained a permanent first mortgage for the acquisition of a multifamily property in Buffalo. Perlman utilized a balance sheet lender with flexible prepayment options, securing fixed-rate financing for his client.

Perlman secured a permanent first mortgage for a 67,600 s/f, multi-tenant industrial property in Buffalo. The improvements include two single-story buildings with 20’ ceiling heights, 12 loading docks, and 13 drive-in doors. In addition, the project is located in an established industrial corridor accessible from I-90 and 190.