News:
Brokerage
Posted: July 18, 2017
Phillips of Largo arranges $22.8 million total for four multifamily properties
Largo.jpg" width="180" />
Largo Group of Companies
Honeoye, NY Jack Phillips, principal of the Largo Group of Companies, arranged $22.8 million in financing for four multifamily properties situated in the Syracuse area.
The first project financed through Largo is a remodeled 63-unit garden style apartment complex. Phillips negotiated a seven-year, fixed rate mortgage with one-year interest only, followed by monthly principal and interest payments based on a 30-year amortization.
The second loan originated by Phillips is secured by a 121-unit multifamily garden style complex. Phillips arranged a seven-year, fixed rate, permanent first mortgage with two-years interest only and 28-year amortization, thereafter. This loan was funded through one of Largo’s correspondent lenders.
Phillips arranged separate five and seven-year debt financing with interest only provisions for two multifamily properties in Lafayette. The first apartment complex features 56 one-, two-, and three-bedroom units with updated kitchens. The second complex is close to I-81 and consists of 80 garden style units. The seven-year loan was also funded through one of Largo’s correspondent lenders.
Tags:
Brokerage
MORE FROM Brokerage
NAI Long Island achieves 100% occupancy at two Suffolk County office assets
Hauppauge, NY NAI Long Island, an affiliate of NAI Global, has achieved 100% occupancy at two Suffolk County office properties, totaling 50,689 s/f. These exclusive landlord leasing assignments involved 207
Quick Hits
 (2).gif)
Columns and Thought Leadership
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
.gif)
August Promotion
