Mesa West Funds ConAm Group’s Las Vegas Buy

Mesa West Capital has funded a $40.9 million loan for the acquisition of South Valley Ranch Apartments in Las Vegas. ConAm Group purchased the property, and will also use the funds for repositioning.

South Valley Ranch features 292 apartment homes in a mix of one-, two- and three-bedroom floorplans housed in 37, two-story buildings on a 17-acre site. Common area amenities include an outdoor swimming pool, fitness center and dog run.

The loan is a short-term, first mortgage loan. The terms were not disclosed.