Investor Duo Closes on $42M Refi for Dallas Townhomes
Mesa West Capital provided a joint venture between Knightvest Capital and TPG Angelo Gordon with a $42 million first mortgage loan for the acquisition and renovation of a 149-unit townhome community in Dallas. The five-year, non-recourse loan is secured by Perry Row, a multifamily townhome community located at 6044 E. Lovers Lane in Northeast Dallas, approximately six miles north of downtown Dallas.
Built in 2009, the property offers a mix of one-, two-, and three-bedroom townhome-style units with balconies and fireplaces. Community amenities include a 24-hour fitness center, pool, outdoor kitchen and business center.
The property has undergone limited capital improvements since it opened in 2009. The new owners intend to implement a comprehensive renovation program that encompasses exterior and common area upgrades, as well as full unit interior renovations.
The financing was arranged by Mark Brandenburg out of JLL’s Dallas office.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout