South Florida Multifamily Property Secures $49 Million Loan to Recapitalize
Mesa West Capital originated the first mortgage debt for ESG Kullen and Angelo Gordon's 219-unit community.
August 30, 2022 at 04:16 PM
2 minute read
Real Estate News
The original version of this story was published on Law.com
Joint-venture partners ESG Kullen and Angelo Gordon have secured a $49.2 million loan for the recapitalization of a 219-unit multifamily property in Palm Beach County, FL.
The floating-rate loan was provided by commercial real estate debt fund manager and portfolio lender Mesa West Capital LLC.
The first mortgage debt is secured by the multifamily asset Monteverde at Renaissance Park, which comprises three six-story buildings across 2.5 acres. The community offers one-, two- and three-bedroom floor plans, as well as a resort-style pool and jacuzzi, a fitness center, billiard room, outdoor grills, bicycle storage, a gated parking garage and an on-site property manager.
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