Mesa West Capital recently funded $47 million in mezzanine capital to finance separate commercial real estate transactions in Chicago and San Diego. Both loans were part of overall debt packages with first mortgage loans originated by Wells Fargo Bank.

The five-year floating-rate mezzanine loans are the first out of Mesa West Capital’s newly formed special situations lending program, as the Los Angeles-based private lender broadens its scope to offer owners and investors a wider variety of financial solutions throughout the capital stack. Since its founding in 2004, Mesa West Capital has provided real estate borrowers with more than $20 billion in short- to medium-term first mortgage debt.

“Our focus continues to be on financing high quality real estate, with strong sponsors and in markets that have durable long-term fundamentals,” said Ronnie Gul, Mesa West Capital principal. “This program is a natural extension of our existing business and allows us to provide efficient solutions for our clients as they navigate a challenging economic environment.”