Mesa West Raises $600M for Real Estate Fund

The fund is designed to directly originate bridge financing with an emphasis on first mortgage debt for middle-market transitional and value-add properties in the Western United States as well as select gateway cities on the East Coast.

July 1, 2010
By Allison Landa, News Editor

Commercial real estate finance firm Mesa West Capital has exceeded its fundraising target for the Mesa West Real Estate Income Fund II, L.P. Originally banking on $400 million, the company said today that it now has more than $614.5 million in commitments.

The fund is designed to directly originate bridge financing with an emphasis on first mortgage debt for middle-market transitional and value-add properties in the Western United States as well as select gateway cities on the East Coast.

“Our investors are excited to be capitalizing on what should be one of the best lending vintages in a generation,” Mesa West principal Ryan Krauch said when announcing the news. “We have been able to successfully provide a very high level of current return while being in the safest part of the capital stack.”

Via its first fund, Mesa West provided $1.5 billion in 83 financings on multifamily, retail, office, industrial and hotel properties. It currently has originated more than $160 million in financings for its Fund II. The firm has offices in Los Angeles and New York.