Mesa West Capital has provided $88.3 million of financing against the SoBro, a recently completed apartment property with 313 units in Nashville, Tenn.
The financing is comprised of a $68 million senior loan and $20.3 million mezzanine loan and allowed the property's developer, a venture led by Magellan Development Group of Chicago, to refinance existing debt. It marks the first loan against a Nashville property for Mesa West, a Los Angeles alternative lender. It sold the mezzanine loan to a third party at closing. The financing was arranged by HFF.
The property, with 33 floors at 205 Demonbreun St., three...
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