Dealmaker: Mesa West Capital Originates $42M for Dallas Townhomes

(Image courtesy of Mesa West Capital)

Mesa West Capital, Los Angeles, originated $42 million for the acquisition and renovation of a 149-unit townhome community in Dallas.

The five-year, non-recourse loan was provided to a joint venture between Knightvest Capital and TPG Angelo Gordon.

“We believe this is a unique value-add opportunity featuring highly desirable townhome product that is differentiated from the bulk of the existing stock within the market,” said Brian Hirsh, head of Mesa West Capital’s Central Region, who led the origination team out of Chicago along with Jonah Sacks.

The financing was arranged by Mark Brandenburg out of JLL’s Dallas office.

The multifamily townhome community, Perry Row, offers one-, two- and three-bedroom townhome style units with numerous community amenities. It opened in 2009 and has since seen limited capital improvements. The new owners intend to launch comprehensive renovations including exterior and common area upgrades and full-unit renovations.