Premier Business Centers

The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
February 15, 2019
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
CA Res Buy Financed with $125 Mil of Short-Term Money


Mesa West Capital provided a private multifamily investment firm with $125 mil in short-term first mortgage debt to finance the West Coast apartment investor’s recent acquisition and repositioning of four California multifamily assets.

Villas at Carlsbad, Carlsbad
Villas at Carlsbad, Carlsbad
The financings were secured by properties in the San Francisco Bay Area, Orange and San Diego Counties. They include the 186-unit Atlantic Apartments in Alameda, the 116-unit Mosaic Hayward, the 102-unit Villas at Carlsbad in Carlsbad, and the 116–unit Vista del Rey in Tustin.

The properties were acquired over the past six months from three different sellers. The properties all provide workforce housing in infill locations and were in need of more focused management and capital upgrades. The portfolio was approximately 95% leased at below market rents, at the time of closing.

Mesa West’s Ronnie Gul originated the five-year, floating rate loan. The financings were arranged by Jake Roberts and Anita Paryani-Rice at IPA Capital. A portion of the loan proceeds will be used to cure deferred maintenance and help fund various renovation programs. Improvements will focus on the exterior presence and common area amenities with select interior upgrades on a unit-by-unit basis.

“Each of the properties is located in a solid, infill location with durable demand drivers that provided new ownership an opportunity to more efficiently manage operations to maximize value,” said Gul. All of the properties are located in major metro first-ring submarkets exhibiting strong and lasting multifamily market fundamentals.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media