Tifton, GA Kevin Heiss, managing director of Largo’s Canadian operations, secured $12.3 million to refinance the existing debt on a 676,000 s/f distribution center.
The property is located on a 50-acre site close to I-75 and a Target distribution center. The sole occupant of the subject property is Orgill Inc. Heiss arranged a three-year, interest only loan on behalf of the borrower.
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,