Dealmaker: Mesa West Capital Originates $85M in Los Angeles

Mesa West Capital, Los Angeles, originated $84.75 million to recapitalize two Los Angeles apartment buildings owned by California Landmark Group, Los Angeles.

Two assets secured the refinance, The HW by CLG, a 79-unit low-rise courtyard building in Hollywood; and The BW by CLG, a 78-unit mid-rise community in the city’s Brentwood neighborhood. 

“Both properties are located in strong pockets of Los Angeles with high renter demand,” said Mesa West Executive Director Josh Westerberg, who led the origination team from the firm’s San Francisco office. “The bulk of the multifamily inventory in these submarkets are older product and both of these properties stand out as high-quality options for tenants looking for better amenities.”

The HW by CLG sits on Hollywood Boulevard between Laurel Canyon and Fairfax Avenue and includes one- and two-bedroom floorplans between 698 and 1,360 square feet. Community amenities include rooftop deck with views of downtown Los Angeles and the Hollywood Hills, a private screening room and a cardio and weight center.  

The BW by CLG at the northeast corner of Barrington Avenue and Wilshire Boulevard is five miles from Santa Monica and the Pacific Ocean. The property has one-, two- and three-bedroom apartments, a rooftop lounge with outdoor kitchen and grilling pavilion and a ground-floor restaurant.