Rochester, NY Jack Phillips, principal and Kevin Heiss, managing director of the Largo Group of Companies, secured a $59 million permanent first mortgage to refinance the existing debt on a 1.7 million s/f distribution/warehouse complex. 

 

 

The improvements feature 50 ft. x 50 ft. column spacing, 25 ft., 9 inch clear heights, and 152 large interior loading docks with full, 360° turnaround for tractor trailers. The subject property conforms well to the surrounding neighborhood given its industrial nature. 

Phillips and Heiss arranged a 10-year, non-recourse loan on behalf of the borrower through one of Largo’s correspondent life insurance lenders.