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Brokerage
Posted: March 20, 2009
Phillips of Largo completes $6.11m in construction financing
Jack Phillips, Principal for the Largo Group of Companies, arranged two years interest-only construction financing in the amount of $6.11 million to build a 26,026 s/f, multi-tenant, class A medical office building.
The new building will be situated along the northwestern perimeter of the existing Dent Medical Tower site on Sheridan Dr. The land is currently improved as a parking lot.
The building will be 100% occupied by three tenants, the University of Buffalo's (SUNY) Neurosurgery Group, Dent Imaging, and Dr. Bagnall. The Neurosurgery Group is supported by the University of Buffalo's Nuclear Research Division, which currently occupies space within Dent Medical Tower.
Largo is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects.
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