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.

Lakeside Campus has been 100 percent occupied by State Farm Insurance and Frontier Communications on short-term term leases. At closing, the sponsor executed a long-term lease for approximately 400,000 square feet with online property management firm Real Page for the entire low-rise office building.  A portion of the loan proceeds from Mesa West will be used for planned lobby and common area renovations and associated costs to lease up the office tower, according to Fried.

Elizabeth Kogen of JMB Realty Corp. in Chicago arranged the financing.

Mesa West also provided Evanston, IL-based AHC Funds with a $23-million first mortgage loan for the acquisition and stabilization of Southern Villas, a luxury apartment community in the Galleria submarket. Built in 1998, the asset includes a mix of studio, one-and two-bedroom apartment homes and features structured parking and resort-like amenities including three Mediterranean-style courtyards, swimming pool, and 24-hour fitness center.

Tracy Kennedy and Tony Stein in the Austin office of CBRE arranged the financing.