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Brokerage
Posted: April 26, 2022
Phillips of Largo secures $11.25 million
Buffalo, NY Jack Phillips, principal of the Largo Group of Companies, arranged an $11.25 million permanent first mortgage to refinance the existing debt secured by a multifamily/commercial portfolio. The portfolio features seven multifamily properties with a combined 168 units and 13,000 s/f of commercial space. All the properties are in Western NY, including Buffalo, Tonawanda, and North Tonawanda.
Phillips arranged a five-year with I/O and 30-year amortization on behalf of the borrower, at a competitive fixed rate.
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