Perlman of Largo Capital secures mortgage to acquire and rebrand an existing self-storage facility

Huntsville, AL Ned Perlman, vice president of originations at Largo Capital, Inc. secures a permanent first mortgage to acquire and rebrand an existing self-storage facility. The property was developed in 2018 and features 507 storage units with RV parking for 18 vehicles. Over 90% of the units have interior access and are climate controlled. The facility is located in a heavily trafficked commercial corridor with good accessibility via the regional Interstate network and area roadways.

Perlman was able to arrange a competitive 5-year fixed rate loan through one of Largo’s correspondent Life Insurance Company lending relationships. The sub-7% interest rate was locked at loan application for the term of the loan. Largo will service this loan in-house, adding to its $4 billion loan portfolio. lenders to arrange a fixed rate loan at a sub-7% interest rate. Largo will service this loan in-house, adding to its $4 billion loan portfolio.