Phillips of Largo completes $2.1 million refinance of 95,200 s/f retail center

Jack Phillips, managing director of the Largo Group of Companies arranged $2.1 million in permanent first mortgage financing to refinance the existing debt on Georgetown Sq., a 95,200 s/f unanchored retail center. Georgetown Sq. is located on the corner of Sheridan Dr. and Evans St. Sheridan Dr. is the major commercial thoroughfare in the area with a number of other retail development located in the immediate area. A Wegmans Grocery Store is located east of Georgetown Sq.; whereas, Evans Sheridan Plaza is located across Evans St. to the west of the subject property. The property benefits from its proxim­ity to this other retail and commercial development in the immediate area. 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. They manage the loan process from loan application through closing and service the loan throughout its term.