LOS ANGELES-Privately held commercial real estate finance company Mesa West has closed Mesa West Real Estate Income Fund II LP with more than $614.5 million in commitments. The commitments surpass the target of $400 million that Mesa West had established for the debt fund, according to company principal Ryan Krauch.

Krauch says that the new fund will allow Mesa West to continue to focus on directly originating bridge financing with an emphasis on first mortgage debt for middle-market sized transitional and value-add properties in the Western US. Mesa West provides capital for acquiring new assets and recapitalizing existing investments via what Krauch describes as "affordable, non-recourse financing for value-add and transitional assets."

Krauch says that investors "are excited to be capitalizing on what should be one of the best lending vintages in a generation." He adds that the company has been able to provide "a very high level of current return while being in the safest part of the capital stack―a great risk-adjusted position for our investors whether the market is capital-constrained or hyper-liquid."

Through its first fund, Mesa West capital provided $1.5 billion in 83 financings on multifamily, retail, office, industrial and hotel properties. It has originated more than $160 million in financings for Fund II, including loans secured by a 22-story, 420,000-square-foot class A office building in Glendale, CA;  a 269-room hotel in Evanston IL; and a 291-room hotel in Austin, TX. Three more loans are expected to close in July.