Phillips of Largo Real Estate Advisors arranges $24.7 million loan for 156-unit multi-family in Honeoye, N.Y.

Honeoye Falls, NY Jack Phillips of Largo Real Estate Advisors, Inc. arranged a $24.7 million loan for a 156-unit multi-family property The non-recourse loan, placed through one of Largo’s longstanding agency lending relationships, featured interest only payments for a portion of the term.

The property is positioned within the greater Rochester market, benefiting from strong regional employment drivers and steady multifamily demand. The asset’s established occupancy and cash flow profile made it an attractive refinance candidate in the current interest rate environment.

Largo Real Estate Advisors continues to leverage its long-standing relationships with agency and institutional lenders to deliver competitive execution for multi-family borrowers across the Northeast.

Tags: Finance Western NY Multifamily

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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.