Dealmaker: Mesa West Capital Funds $81M Loan for Boston-Area Multifamily Community

(Photo courtesy of Mesa West Capital)

Mesa West Capital, Los Angeles, provided a joint venture between Toll Brothers and Carlyle with an $81 million loan to refinance Emblem 120, a 289-unit mid-rise multifamily property in Woburn, Mass.

The financing was arranged by Newmark’s Boston Debt and Structured Finance team led by David Douvadjian, Timothy O’Donnell and David Douvadjian, Jr.

Developed and delivered in 2022 by Toll Brothers Apartment Living, the six-story property includes studio, one-, two- and three-bedroom residences. Emblem 120 has a central courtyard, outdoor pool with cabanas and a rooftop terrace and lounge. The property hosts 9,390 square feet of retail space at street level.  

Mesa West Capital Vice President Pamir Niaz originated the financing with colleagues Matthew Snyder and Jacob Rosen. “We believe the property will continue to perform given the area’s limited future supply pipeline, coupled with ongoing demand for desirable multifamily housing from a deep and well-employed renter base,” Niaz said.

Emblem 120 is within walking distance of Anderson Regional Transportation Center, a transit hub providing commuter access to downtown Boston and Logan International Airport.