Phillips of Largo Real Estate Advisors arranges $24 million first mortgage for 300,000 s/f Buffalo industrial property

Buffalo, NY Jack Phillips of Largo Real Estate Advisors, Inc. arranged a $24 million non-recourse permanent first mortgage for a 300,000 s/f industrial property. The asset is fully occupied by a single tenant with more than 80 years of operating history in the Buffalo Niagara MSA.

The property is situated within an established industrial park just south of the city’s CBD, offering direct access to major transportation routes including Hwy. 5, U.S. Rte. 62, I-90, and I-190. The sponsor’s longstanding market presence and operational control of the property provided strong support for the financing.

The loan was structured through a CMBS lender. This transaction further demonstrates Largo Capital’s ability to execute large-scale industrial financing through its national lending platform, backed by extensive experience in the Buffalo and Western New York industrial markets.

Tags: Finance Western NY

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The Domain Cos. closes on $175 million financing with Wells Fargo to deliver 400 housing units

Queens, NY The Domain Companies closed on $175.6 million in financing with Wells Fargo for a new mixed-income housing project called Elara, which will deliver 429 new apartments in one of the city’s fastest-growing neighborhoods. “Astoria is one of New York’s most vibrant and culturally rich neighborhoods, and it has long held a special place in Domain’s history.