Mesa West Capital has provided an affiliate of Crow Holdings Capital with $52 million in short-term, floating-rate first mortgage debt to refinance Canyon Reserve at the Ranch, a 256-unit garden-style multifamily community located in the Denver suburb of Westminster, Colorado.
Built in 1984, the 17-building community was fully repositioned by the Sponsor in 2022. The property features a mix of one- and two-bedroom apartment homes with modern finishes including stainless steel appliances, in-unit washer/dryers, walk-in closets, and private outdoor spaces. Community amenities include a resort-style swimming pool, an outdoor grilling area, a fitness center and a dog park.
Located at 2890 W 116th Place with direct access to U.S. Route 36, Canyon Reserve offers residents convenient connectivity to both Downtown Denver and Boulder, as well as proximity to Denver International Airport.
“There is a compelling supply-demand dynamic in Westminster, where new construction has been moderate compared to the significant wave of supply that’s impacted broader Denver,” said Brian Hirsh, Central Region Head of Originations at Mesa West Capital. “With the recent repositioning of the asset and strengthening market fundamentals, the property is well-positioned for outsized performance.”
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.
