
Amherst, NY Jack Phillips, principal at The Largo Group of Companies, secured $28 million to refinance the existing debt and closing costs on a 350,000 s/f office property across eight buildings.
The property has maintained consistent historical performance as well as occupancy.The complex is in an industrial/office area east of Niagara Falls Blvd.
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,