Mesa West Capital has provided Woodfield Development with a $50.4 million loan to refinance The Ames, a newly delivered Class A, 304-unit multifamily property in Summerville, South Carolina, a fast-growing suburb of Charleston.
“The Ames is a highly desirable multifamily community – delivered by an experienced, local developer – that benefits from the Charleston region’s strong population and job growth,” said Niaz. “Summerville is squarely within the path of growth and The Ames is further supported by its location in the heart of Nexton, a burgeoning mixed-use community with an array of dining, shopping, and recreational amenities.”
The Ames offers a mix of floor plans ranging from studios to three-bedroom, two-bath apartment homes. Units feature in-unit washer/dryer, granite countertops, walk-in closets and private balconies or patios. Community amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, resident lounge, fitness center, pickleball courts and a dog park. The Ames also benefits from its central location in Nexton, an award-winning master-planned mixed-use community, where residents are within walking distance of 100+ shops and restaurants, numerous public parks and 50 miles of walking and biking trails.
The financing was arranged by Walker & Dunlop‘s Charleston Capital Markets team led by Walker Layne and Austin Sneed.
Mesa West Capital is a leading commercial real estate debt fund manager and portfolio lender. With offices in Los Angeles, New York, Chicago, San Francisco, and Houston, Mesa West has been one of the leading providers of commercial real estate debt since its founding in 2004. Mesa West provides non-recourse first mortgage loans for core/core-plus, value-add or transitional properties throughout the United States. Mesa West’s lending portfolio includes all major property types with loan sizes ranging from $20 million up to $400 million. Since inception, the firm has sourced and closed more than 450 transactions totaling over $28 billion.
