DALLAS—Los Angeles-based Mesa West Capital has funded two separate five-year, non-recourse loans totaling $104.3 million for the acquisition of an 812,000-square-foot office campus and a 228-unit apartment home community in Dallas.

Mesa West provided $81.3 million in first mortgage debt to GEM Realty Capital and Cawley Partners for the acquisition of Lakeside Campus, a two-building office complex in Richardson. Located at 2201 and 2221 Lakeside Blvd. in the heart of the Telecom Corridor, Lakeside Campus features a 16-story office tower and a three-story, low-rise office building. Built in 1991 as the headquarters for Nortel Networks, the complex features state-of-the-art technology infrastructure, structured parking and a campus-like setting.

“The remaining vacancy is in the 16-story tower which will benefit from significant capital upgrades and will be well-positioned as one of the nicest available large blocks of space in the submarket,” Mesa West Capital principal Steve Fried, who originated the financing, told GlobeSt.com.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.