Sheldrick of Largo arranges $465,000

Brian Sheldrick, managing director for the Largo Group of Companies Albany office, arranged a $465,000 construction/permanent mortgage for the purchase of and renovations to a self-storage facility. Constructed in 2004, the project consists of four, single-story buildings situated on a 3.9 acre lot. There are currently 87 storage units with 3 different unit sizes and price points. The owner of the property has many improvements planned, including the reconfiguration of RV Buildings, additional market sized storage units and an additional keypad controller. Sheldrick secured a 10 year term with a sub 5% fixed rate, and a 20 year amortization schedule for the property owner. The Largo Group of Companies is a commercial mortgage banking company that structures, closes and services commercial mortgages for acquisitions, refinances and redevelopment projects. Largo arranges innovative financing structures for borrowers throughout the United States and Canada. They manage the loan process from loan application through closing and service the loan throughout its term.