Mesa West Capital has provided $43.5 million in financing to refinance six retail condominiums at 201 Newbury Street in Boston, Massachusetts.
The loan was originated out of the private lender’s Mesa West Core Lending Fund, which provides lower leverage first mortgage on stabilized core assets. The financing included $7 million of subordinate debt, which was sold to accounts managed by BlackRock, according to a prepared statement from the firm.
The collateral consists of six fully occupied retail condominiums with 24,716 sq ft retail space, which sit at the base of a four-story brownstone along the popular Newbury Street retail corridor. Anthropologie, Dr. Martens, Timberland and Ted Baker London are among the tenants.
Other recent loans originated out of the firm’s Core Fund include a $210 million loan to refinance the John Hancock Center in Chicago and a $260 million loan to refinance One Franklin Square in Washington, DC.
The fund complements Mesa West’s primary lending platform, which provides non-recourse first mortgage debt for the acquisition, refinancing and recapitalization of transitional assets throughout the US.
Mesa West Principal Ronnie Gul led the origination team out of the firm’s Los Angeles office. Trisha Connolly of Cushman & Wakefield arranged the financing.
Mesa West did not immediately respond to requests for comment on loan terms.