Phillips of Largo places $49.5 million permanent financing

March 24, 2020 - Front Section

Buffalo, NY Jack Phillips, principal of the Largo Group of Cos., secured a $49.5 million permanent first mortgage to refinance the existing debt on a 478,000 s/f class A office facility.

The office building is currently over 90% occupied. The property is situated on Genesee St., across from the Buffalo-Niagara International Airport with highway access to  the downtown area and the surrounding Buffalo-Niagara Falls region.

Phillips arranged a non-recourse loan on behalf of the borrower at a competitive interest rate.

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