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Posted: May 25, 2010
Phillips of Largo arranges $2.55m refinancing for Orchard Park Medical
Jack Phillips, managing director for the Largo Group of Companies, arranged $2.55 million to refinance the existing debt on Orchard Park Medical, a 28,888 s/f medical office facility. The subject is located within Sterling Park.
The property is currently 89% occupied by five tenants, including Dent Neurologic, WPV, CGF Health Systems, Buffalo Spine and Sports Medicine, and Dr. Norma Quijda. The property benefits from the surrounding buildings, the majority of which are medical in nature.
Phillips secured a five-year fixed rate loan and a 25-year amortization schedule for the borrower.
Largo is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the U.S. and Canada. We manage the loan process from loan application through closing and service the loan throughout its term.
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