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Mesa West Provides Acquisition Debt for Richmond Industrial
Mesa West Capital provided an affiliate of the Matan Companies with $34 million in short-term first mortgage debt for the acquisition of Deepwater Industrial Park, a recently built 321,646-square-foot distribution and warehouse complex in Richmond, VA.
Deepwater consists of the 202,176-square-foot 3001 Commerce Rd., 50% leased to Lowes Pro Supply, and a vacant 119,470-square-foot building at 2301 Commerce Rd. The buildings were delivered to market in May 2023 and are adjacent to a 1.2-million-square-foot-facility 100% leased to Lowes.
“The Richmond industrial market has flourished and continues to exhibit stable long-term demand due to its central location and multi-modal connectivity,” said Mesa West executive director Matthew Snyder, who led the Chicago-based origination team. “Deepwater, with its top-of-market specs, strong sponsorship and central location along I-95, is primed to attract significant interest from tenants looking to be in the Richmond market.”
The five-year, non-recourse financing was arranged by JLL’s Drake Greer.
- ◦Financing
