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Brokerage
Posted: July 11, 2023
Vogel of Largo Capital arranges first mortgage for 473 unit self-storage facility
The property features 473 rentable units with 413 standard units, 12 climate-controlled incubator/warehouse units, and 48 outdoor storage/parking spaces. The loan was placed through one of Largo’s 26 correspondent lenders. The interest rate was locked at application and features four rate reset options for a loan term that can extend up to 15 years with 25-year amortization. Largo will service this life company financed loan in-house, adding to its $3.6 billion loan portfolio.
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