Bela Flor Secures $24M For Mesa Rental Recap

Bela Flor Communities has secured $24 million in preferred equity for the recapitalization of Bella Victoria, a 236-unit luxury community in Mesa, Ariz. Berkadia arranged the financing on behalf of the borrower.

Completed in 2016, the garden-style community comprises 42 buildings with two- and three-bedroom floorplans ranging from 1,003 to 1,615 square feet. Each of the 236 units has a private, direct-access garage and a dedicated 220-volt circuit to charge electric vehicles. Apartments feature private balconies and patios. Common-area amenities include a fitness center, two swimming pools, a pet park, two spas and a lounge.

Located at 1350 S. Ellsworth Road, the property is off Highway 60, roughly 30 miles east of downtown Phoenix and 13 miles from downtown Mesa. The Superstition Springs neighborhood, densely populated with retail, dining and entertainment options, is about 4 miles away.