Cherry of Largo R.E. arranges $2.1 million in first mortgage financing

Matthew Cherry, account executive for Largo Real Estate Advisors, Inc. arranged first mortgage financing in the amount of $2.1 million for a 49,044 s/f industrial building located along Dobbs Rd. Built in 1981, the subject is currently 100% occupied by Wine Warehouse, which underwent renovations including a new roof, sprinkler system and HVAC system. The area surrounding Wine Warehouse primarily consists of industrial properties, as well as an abundance of commercial properties such as retail plazas, restaurants and offices. Matthew Cherry secured a 20-year self-amortizing loan for the borrower.