
East Aurora, NY Jack Phillips, principal at Largo Real Estate Advisors, Inc., arranged a permanent first mortgage to facilitate the cash-neutral refinance of a ±31,000 s/f medical office building. The multi-tenant property is home to a mix of medical practices, including an OB/GYN, a pediatric office, and a family medicine provider.
Leveraging Largo’s deep relationships in the commercial real estate finance industry, Phillips was able to secure financing with competitive terms from a regional credit union. Largo Capital continues to provide creative, relationship-driven financing solutions for medical office, healthcare, and specialty-use real estate assets throughout the Northeast and across the country
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,