January 30, 2017 Comments Off on Mesa West Originates $64M in Debt Financing for Two CA Assets Views: 244 California News, San Diego

Mesa West Originates $64M in Debt Financing for Two CA Assets

Los Angeles-based Mesa West Capital originated $63.8 million in short-term first mortgage debt in two separate financings secured by assets in San Diego and Walnut Creek, CA.

Mesa West provided Newport National Corp. with a $28 million first mortgage loan for the acquisition, renovation and stabilization of Scripps Summit Court in Scripps Ranch. Acquired from owner-user HD Supply Facilities Maintenance, which recently relocated to Atlanta, the asset includes a vacant 146,549-square-foot, four-story office building on a 21-acre lot.

Renovation plans include a new exterior entrance, upgrades to the lobby and common areas as well as the addition of a new bistro/coffee bar, upgraded fitness center, and new training/events room.

Mesa West also provided a JV between Citivest Commercial and Tallen Capital Partners, with a $35.75-million loan to refinance and reposition the Rossmoor Shopping Center in Walnut Creek. HFF brokered the deal between the JV, securing the loan through Mesa West.

Mesa West’s Steve Fried and Seth Hall originated the financing.

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