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Mesa West Capital Provides $110M to Fund Georgia MF Buy
Mesa West Capital provided a joint venture of KKR and Nashville-based Carter-Haston with $110 million in first mortgage debt for the off-market acquisition and stabilization of Juncture, a 560-unit apartment community in Alpharetta, GA. The five-year, floating rate loan is secured by the Class A garden-style multifamily community located at 910 Deerfield Crossings Dr. that was completed in October 2017.
Mesa West Capital’s Ronnie Gul says, “Juncture is one of the highest-quality assets in Alpharetta, a submarket which has benefited from job and population growth, in part due to the successful Avalon high-end lifestyle development.” Gul led the Los Angeles-based origination team, which also included Seth Hall.
The phased development features a mix of one and two-bedroom apartments across 16 buildings on a low-density 24-acre site. Each unit is characterized by its high ceilings, stainless steel appliances, full size washer/dryer and high-end finishes. The project also features resort-style community amenities.
For comments, questions or concerns, please contact Dennis Kaiser
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