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Posted: October 11, 2022
Phillips of Largo Real Estate Advisors arranges two refinances - $66.2 million
Amherst, NY Jack Phillips, MBA, principal at Largo Real Estate Advisors, arranged refinancing for two Upstate properties.
Phillips secured $23 million to refinance a pair of medical office buildings. The buildings are 100% occupied and feature 92,000 s/f of rentable space. The property location is centralized and a visible, with access to I-290. Amherst is one of the most populated towns in western N.Y. The property benefits from strong demographics.
And in Rochester, Phillips arranged $43.2 million to refinance a student housing complex. The property is in close proximity to the University of Rochester and is 100% occupied. The complex consists of 162 units with roughly 500 private bedrooms and bathrooms. Rochester is the second largest economy in the state after New York City, benefiting from strong demographics
The Largo Group of Companies is a commercial real estate firm which structures, closes and services commercial properties for acquisitions, refinance and development projects. With headquarters in Getzville, N.Y., Largo has been providing innovative debt and equity financing structures for over 30 years throughout the United States and Canada.
Largo has 26 correspondent relationships and offers additional lending sources, providing property owners and developers the full array of financing options.
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