Hi krdmnmsh,
To add to siegencorgie’s answer. You can also use Level Streaming. It’s a great way to load assets only to the part of the level you are in. Here is some more info on LOD’s, Culling, and Level Streaming.
https://docs.unrealengine.com/latest/INT/Engine/Content/Types/StaticMeshes/LOD/index.html
https://docs.unrealengine.com/latest/INT/Engine/Rendering/Scalability/ScalabilityReference/index.html