Tampa, FL Kevin Heiss, managing director of Largo’s Canadian operations, secured $7.8 million in financing for the acquisition of a 410,000 s/f industrial building. The property is situated on a 27-acre site in an industrial node of East Tampa off of Highway 301. Heiss arranged a 10-year, fixed rate first mortgage with 25-year amortization through one of Largo’s correspondent life insurance companies.
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,