News:
Brokerage
Posted: August 28, 2017
Phillips of Largo Group of Cos. secures $14.75 million for two properties
Largo.jpg" width="180" />
Largo Group of Companies
Buffalo, NY Jack Phillips, principal of the Largo Group of Companies, secured $14.75 million for a manufactured housing community in Ohio and a hotel property in New York.
The first property is a 235-pad manufactured housing community located in Grove City, Ohio. The subject property is located approximately 10 miles west of Columbus, Ohio. The subject's common amenities include a clubhouse, pool, basketball court, and a playground. Phillips arranged a 10-year, fixed rate permanent first mortgage with 30-year amortization.
The second property is a 106-room Hampton Inn located in Oneonta, New York. The hotel is located off of Interstate-88 and draws tourists from the National Baseball Hall of Fame, SUNY Oneonta, and Hartwick College. Phillips negotiated a 10-year, fixed rate, permanent first mortgage with 30-year amortization on behalf of the borrower.
Tags:
Brokerage
MORE FROM Brokerage
Devli Real Estate acquires 67,000 s/f flex industrial property on Rte. 17 in Upper Saddle River
Upper Saddle River, NJ Devli Real Estate acquired 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with highway frontage. The property is positioned along
Quick Hits
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
