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.
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Kelsi Maree Borland
Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.
