Equus Capital Partners obtained $72.1 million in short-term debt to acquire and reposition Legacy Place, a 299,898-square-foot office complex in Plano, TX. Mesa West Capital provided the financing for the two-building property at 5700 Tennyson Pkwy., east of the Dallas North Tollway. Pennsylvania-based Equus acquired the property from L&B Realty Advisors.

A portion of the loan proceeds from the five-year, non-recourse loan will be used to fund capital improvements, including a renovation of building lobbies and common areas, addition of hospitality-style amenities, elevator modernization, and new HVAC systems. The 20-year-old Legacy Place was 87.7% leased at the time of sale.

“Legacy Place I and II are high quality physical assets that will be significantly improved with the Sponsor’s capital plan,” said Mesa West’s Brian Hirsh who originated the loan. “This building modernization program will allow these buildings to directly compete with other Class A offerings in Legacy, a submarket that has been experiencing robust tenant demand.”

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