
Buffalo, NY Jack Phillips, principal at Largo Real Estate Advisors, Inc., recently structured a permanent first mortgage to refinance the existing debt on a ±73,000 s/f single-tenant industrial property. The financing was provided through one of Largo’s correspondent life insurance company partners. As part of its $4.5+ billion loan portfolio, Largo will service the loan in-house, offering continuous, hands-on support to the borrower throughout the loan's term.
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,